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Understanding the corporate tax outsourcing opportunity: What firms need to know

ThomsonReuters

Companies are facing an ever-increasing burden of corporate tax compliance and the pace of complexities shows no sign of slowing. Helping companies ensure compliance by outsourcing for business processes represents a growth opportunity for today’s tax and accounting firms. . “ percent from 2022 to 2030.

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BDO USA is Shifting From a Partnership to a Corporation

CPA Practice

on July 1, after the sixth largest accounting firm in the nation by revenue officially changes from its current partnership structure to a professional services corporation based in Delaware. Even though partnerships aren’t taxed, they must file a tax return each year unless the partnership has no income or expenses.

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What’s Hot on Checkpoint for Federal & State Tax Professionals?

ThomsonReuters

The Inflation Reduction Act of 2022 imposes a new 15% corporate alternative (book) minimum tax on the adjusted financial statement income of applicable corporations (those with 3-year average financial statement income of at least $1 billion). Tax-exempt organizations may make this election for twelve credits.

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What is Schedule K-1?

ThomsonReuters

K-1s are sometimes confused with Form 1099s, which are tax information documents for individuals who are not employees, like sole proprietors and freelancers. K-1s, however, are quite different and can come with some complexities for tax and accounting firms. from the partnership for the tax year.

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HMRC information notices – Schedule 36 FA 2008

Menzies

Menzies LLP - A leading chartered accountancy firm. To allow HMRC to check that the correct amounts of tax have been paid by taxpayers, they have been afforded formal legal powers to request information and documents from taxpayers. These powers are contained within Schedule 36 to Finance Act 2008.

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Friday Footnotes: Staffing Disasters; Let’s Rag on EY; A Warning For Tax Practitioners | 4.14.23

Going Concern

Staffing Drama Signal Mountain Won’t Pay Accounting Firm For Extra Work On Audit [ Chattanoogan.com ] Clients are the worst The Signal Mountain Town Council has declined to pay an auditing firm extra money it said was due because of inadequate help from city employees in preparing the annual city audit.

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Friday Footnotes: Ex-Deloitte Partner Stole Military Documents on His Way Out; KPMG Reveals Its Partnership Deed | 7.21.23

Going Concern

News Battle accountancy firm urges others to offer opportunities to Ukrainian professionals after successful placement [ SussexWorld via Yahoo! KPMG has said it would co-develop cloud and AI-based products for its employees and its clients—a five-year investment that the firm projects could return as much as $12 billion in revenue.

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