Going Concern

FEBRUARY 22, 2023

TL;DR Two guys and their accounting firm are accused of filing false tax returns and a touch of COVID relief fraud. Read: A federal grand jury returned an indictment on Feb. 1 charging two Utah County men and an accounting firm with claiming an excess of $11 million in tax credits through a COVID-related fraud scheme.

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Utah accounting firms tax return Account 98

CPA Practice

OCTOBER 10, 2023

The demand for skilled tax practitioners in the accounting profession has never been more critical. This surge in demand for CPA services comes at a time when experienced public accountants are exploring alternative career options, and fewer graduates are entering the profession. By Richard Lavina and Ralph Carnicer.

Technology 106

Technology accounting firms Account accountant 106

ThomsonReuters

APRIL 1, 2021

In response to the continuing COVID-19 emergency, the IRS has offered deadline relief for 2020 federal income tax returns that also extends the deadline for 2020 contributions to HSAs, IRAs, and certain other accounts. Contributions to HSAs, IRAs, and Other Accounts. Tax Return Preparers.

income tax 52

income tax tax return Tax Education 52

Accounting Insight

FEBRUARY 8, 2023

IRIS, the leading provider of accountancy software, is calling on businesses to carefully consider which accountancy firms they work with in 2023. IRIS, the leading provider of accountancy software, is calling on businesses to carefully consider which accountancy firms they work with in 2023.

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Account accountant accounted bookkeeping 64

Dent Moses

MAY 30, 2023

In most cases, the IRS can audit, propose adjustments, and assess additional tax up to 3 years after the later of (a) the date a return was filed, or (b) the original due date. For example, assume your 2022 individual tax return was filed on April 11, 2023, a week before the due date of April 18, 2023.

tax return 52

tax return Tax audit Sales 52

CPA Practice

JUNE 21, 2023

The IRS has reduced its backlog of unprocessed paper tax returns by 80%, has sent out refunds more quickly in 2023 than in previous years, and has cut wait times for those trying to reach the agency by phone, the national taxpayer advocate said in her midyear report to Congress on June 21. Erin Collins “What a difference a year makes!”

tax return 65

tax return Tax account management accounting manager 65

Going Concern

MARCH 24, 2023

Up until now, Tax Heaven 3000 creators MSCHF have been known for sneaker drops more than sketchy tax prep games (is anyone known for sketchy tax prep games?). A 2020 NYT profile explains : MSCHF isn’t a sneaker company. It’s always been a dream of mine to meet that special someone…and file their tax return.

Tax 119

Tax tax return Gaming income tax 119

CPA Practice

JANUARY 26, 2024

23, 2024, to two years in prison for a scheme to file false tax returns, and to two years in prison for an unrelated online romance scam. According to court documents and statements made in court related to the tax scheme, Iona Coates owned and operated Bits & Bytes Accounting Services Inc., In December 2020, U.S.

Florida 110

Florida tax preparation Tax tax return 110

Going Concern

FEBRUARY 26, 2024

National Review wins for best headline : The PCAOB has released EY Canada’s latest inspection report, they got a D : Big Four accounting firm Ernst and Young had multiple deficiencies in half the audits inspected by the Public Company Accounting Oversight Board in the United States in 2022. deficiencies). deficiencies).

audit 57

audit Mississippi auditor tax return 57

Going Concern

AUGUST 28, 2023

Accounting firms across the pond are ditching Zoom interviews, writes Sunday Times : Zoom calls became the norm for business meetings during the pandemic — but accountancy firms, among the biggest graduate recruiters, are going back to face-to-face interviews when hiring, saying it is easier to assess candidates’ characters.

accounting firms 52

accounting firms CPA Account accountant 52

CPA Practice

APRIL 5, 2024

(TNS) A Kennewick tax preparer cost the United States $42 million in lost tax revenue between 2017 and 2020 after filing tax returns that were riddled with errors, fabrications and fraudulent entries, alleges the Department of Justice. In 2009 he entered the private accounting practice of Thomas M.

tax return 103

tax return Tax tax preparation income tax 103

Churchill-Knight

DECEMBER 13, 2021

If you are required to submit a self-assessment tax return for the 2020/21 tax year, it’s recommended you file it before Christmas – to ensure you’re well within the deadline of the 31st January 2022. This blog explains more about the importance of beating the deadline, and we explain who needs to complete a tax return.

tax return 40

tax return Tax accounting standards Account 40

LyfeAccounting

JUNE 2, 2021

Want to Know How to File an Amended Tax Return? As an accounting firm, we’ve filed our fair share of amended tax returns. In today’s post, we’ll be going over when to amend your taxes and the 5 steps to actually amend your taxes. Steps to Take When Filing Amended Tax Return.

tax return 52

tax return Tax accounting and finance tax preparation 52

PYMNTS

JANUARY 11, 2021

There were around 13 million defunct accounts that accidentally received stimulus check payments by the IRS , which the agency is now attempting to get to their right places, according to The New York Times on Sunday (Jan. After the process is done, the accounts often become inactive but are still linked to the companies' records.

Account 64

Account accountant accounted tax return 64

ThomsonReuters

FEBRUARY 10, 2021

While many of those provisions impact tax years 2021 and later, some affect 2020 returns. Here’s a rundown of what you need to know about the CAA as you prepare 2020 business and individual tax returns. Individual Returns. Additional 2020 Recovery Rebates. Advance payments.

Tax 98

Tax tax return payroll Education 98

ThomsonReuters

MARCH 17, 2021

The IRS has issued new Form 8915-E, which individual taxpayers must file with their income tax returns to report coronavirus-related distributions and other qualified 2020 disaster distributions received from retirement plans in 2020, as well as 2020 repayments of those distributions. Form 8915-E. Instructions.

Construction 93

Construction Maine income tax tax return 93

RogerRossmeisl

DECEMBER 12, 2020

According to data company Dun & Bradstreet, business identity theft increased more than 250% in the first half of 2020. In a more typical year, crooks use stolen business identities to file fraudulent tax returns, apply for credit and empty bank accounts. businesses — for this remarkable number.

tax return 221

tax return CPA Tax Account 221

Going Concern

FEBRUARY 19, 2024

PwC is gonna get sued over Evergrande : Evergrande’s liquidators are preparing for a potential lawsuit against PwC, which audited the now-collapsed Chinese property group for more than a decade, in a move that could lead to the Big Four accounting firm facing a high-profile negligence claim. Lee has led CI since October 2020.

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auditor Account accountant accounted 57

Cheap Accounting

NOVEMBER 29, 2021

Many self-employed people (AKA sole traders) who complete a Self-Assessment tax return for the first time are left somewhat baffled when their tax bill is much bigger than expected. It happens because after they file their first Self-Assessment tax return, they find out they need to make a “ payment on account ”. .

Account 49

Account accountant accounted tax return 49

Going Concern

JULY 8, 2022

Plus, Pennsylvania accountant loves tax evasion, North Carolina CPA indicted on securities fraud charge, and Kentucky accountant gets jail time for sex trafficking. Accountant sentenced to prison for role in doctor-bribery scheme [ Press-Telegram ]. Drobot, who owned Pacific Hospital in Long Beach. According to the U.S.

North Carolina 52

North Carolina Account accountant accounted 52

CPA Practice

JUNE 15, 2023

The IRS created an automated process to recalculate the child tax credit, including the amount of advance payments posted to a taxpayer’s tax account, according to TIGTA. 105 taxpayers didn’t receive all of their eligible child tax credit, estimated at $139,000. This process uncovered 3.8 The IRS informed TIGTA on Oct.

Tax 131

Tax tax return tax accountant Technology 131

AdviceForTaxpreparers

SEPTEMBER 8, 2020

Earn $20 per Book Promoting My Tax Preparer Book from Home in Your Spare Time. My name is Bill Meador and I am writing a book to help tax staff succeed in a public accounting firm tax department. Now I understand the first reaction of many accountants to the concept of selling anything. by Bill Meador, CPA, JD.

tax preparation 246

tax preparation Tax cpa firm CPA 246

Churchill-Knight

DECEMBER 20, 2021

With just over a month to go until the self-assessment tax deadline, it is worth double-checking whether or not you have to submit a self-assessment tax return. In many cases, umbrella company employees won’t need to submit a tax return because they are taxed similarly to those in permanent employment (PAYE).

tax return 40

tax return Tax income tax tax accountant 40

Ryan Lazanis

AUGUST 22, 2022

Looking for the best accounting practice management software for your firm? Good news, because this is the ULTIMATE accounting practice management software round-up post. Get to know the top accounting practice management software and why it is essential for your business. The Basics of Accounting Practice Management Software.

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Account accountant accounted quickbooks 105

CPA Practice

DECEMBER 19, 2023

While the collection notices stopped, failure-to-pay penalties didn’t—and continued to accrue for taxpayers who had overdue taxes after receiving the initial balance due notice. The IRS is also waiving the failure-to-pay penalties for eligible taxpayers affected by this situation for tax years 2020 and 2021. 5, 2022, and Dec.

tax return 135

tax return Tax income tax business tax 135

Bharmal&Associates

JULY 30, 2020

New IRS guidance expands the possibilities for what is an adverse COVID-19 impact on you for purposes of taking up to $100,000 out of your retirement accounts and repaying it without penalties. You also can elect to include it all in tax year 2020, if you want. You pay no taxes or penalties. IRS Expands Relief.

tax return 130

tax return Tax cpas Start-ups 130

ThomsonReuters

MARCH 6, 2024

According to our most recent analysis, some of the most searched terms within Checkpoint Edge are tax credits, Employee Retention Credit (ERC) , and the Inflation Reduction Act (IRA). Because the ERC expired for most employers on September 30, 2021, the credit is claimed by submitting an amended employment tax return on Form 941-X.

tax return 52

tax return payroll tax payroll Tax 52

Going Concern

MAY 1, 2023

The opportunities for a slimmer legal and tax advisory group “would have been endless,” he said. Law firms have long fretted about the scale of competition they’d face should accounting firms plunge into the US legal practice, as they have done in Asia and South America. EY collected $45.4 EY collected $45.4 They have a big advantage.”

Tax 57

Tax Account accountant accounted 57

CPA Practice

NOVEMBER 21, 2023

By Bill Estep, Lexington Herald-Leader (TNS) A former Kentucky accountant has been indicted after allegedly failing to report more than $320,000 in income on his federal taxes. A federal grand jury indicted Charles Marshall Stivers, of Manchester, last week on two charges of making false statements on tax returns in 2018 and 2020.

Kentucky 65

Kentucky CPA Tax tax return 65

Ronika Khanna CPA,CA

MARCH 31, 2022

As numerous employees shifted from their offices to their homes, Revenue Canada (CRA) and accountants were deluged with questions about how they could claim home office expenses during the early days of the pandemic. To stave off the complaints and questions, CRA decided to introduce a simplified method of claiming a tax deduction.

tax return 52

tax return Tax tax preparation income tax 52

CPA Practice

FEBRUARY 10, 2023

Anyone who electronically files an amended individual income tax return can for the first time select to have any resulting refund deposited into their bank account, the IRS said on Feb. Individual Income Tax Return , with the IRS had to wait for a mailed paper refund check, adding an extra step onto the amended return process.

tax return 119

tax return income tax tax preparation Manufacturing 119

CPA Practice

MAY 28, 2024

Some people are “just really looking for a free tax software—bouncing between platforms—and we are not interested in pursuing those customers,” he said. Goodarzi also highlighted that TurboTax gained share among people who traditionally have hired an accountant to handle their tax returns. 1, the company said.

Tax 52

Tax quickbooks tax return accounting and finance 52

ThomsonReuters

JANUARY 28, 2021

IRS Publication 502 (Medical and Dental Expenses (for 2020 Returns)). The IRS has released an updated version of Publication 502 for the 2020 tax year. Publication 502 describes the medical expenses that are deductible by taxpayers on their federal income tax returns. Available at [link].

income tax 52

income tax tax return Tax Account 52

ThomsonReuters

AUGUST 12, 2021

The IRS has announced that certain retirement plans adopted retroactively for the 2020 taxable year will not be required to file Form 5500 for 2020. EBIA Comment: This is welcome news for sponsors who used the SECURE Act provision to adopt a profit-sharing or defined benefit plan retroactively for 2020. Available at [link].

tax return 52

tax return Tax Account accountant 52

MyIRSRelief

OCTOBER 3, 2022

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service. The Los Angeles County sales tax rate is 0.25%.

tax services 147

tax services California Tax tax preparation 147

Withum

MARCH 2, 2022

Under the American Rescue Plan of 2021, the Child Tax Credit was increased and allowed for advanced payments during the year. The following is an informative Q&A on the Child Tax Credit and how this may impact your 2021 tax return filing. What is the Child Tax Credit? More on Child Tax Credit.

Tax 122

Tax tax return online accounting Account 122

ThomsonReuters

MARCH 17, 2021

IRS Form 8889 (Health Savings Accounts (HSAs)) and Instructions (2020); Publication 969 (Health Savings Accounts and Other Tax-Favored Health Plans (for use in preparing 2020 returns)). The 2020 versions of Form 8889 and its instructions are substantially similar to their 2019 counterparts.

tax return 52

tax return Tax Legal Account 52