ThomsonReuters

FEBRUARY 22, 2024

It is inevitable that in the next few years, it will impact – and even transform – how corporate tax professionals go about their work. So, what are the key aspects of AI that are likely to affect the world of corporate tax? Here are the top five AI terms corporate tax professionals need to know: 1.

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Going Concern

SEPTEMBER 14, 2023

This morning, Thomson Reuters released new research that reveals both corporate tax and global trade departments state they are under-resourced for technology and talent. From the press release : The 2023 State of Corporate Tax Department report highlights under-resourced tax departments are more likely to face audits and penalties.

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CTP

NOVEMBER 15, 2023

The General Accounting Office estimates that Americans over-pay their taxes by almost a billion (yes, that’s billion) dollars each year! That’s why tax planning is gaining in popularity. Some obvious reasons are mistakes or oversights on their tax returns. Have you received specific training in tax planning?

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Going Concern

DECEMBER 2, 2022

It’s December 2022 and we’re now a good year into “The Great Accounting Shortage,” the depth of which won’t truly be known until the fines start rolling in for p**s-poor audit work performed by skeleton crews. We might need to start thinking about Life After Accountants. So, any day now.

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Cheap Accounting

AUGUST 31, 2023

Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory. Keep receipts and invoices then record the amounts spent in the accounts. Directors have legal obligations bestowed on them when they are appointed including keeping accounting records and filing accounts.

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Ronika Khanna CPA,CA

APRIL 26, 2024

Business tax instalment payments (including GST-QST instalments ) This means that instead of entering the data on the forms that are available via my business account at CRA and RQ and then going to your bank to make payment, either online or via mail, it can all be done at one time through one form that serves as both tax filing and payment.

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ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? You may wonder how the S corporation taxation generally works. The following guide offers numerous strategies and tips that owners of S corporations can use to lower their taxes, including deductions and credits.

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Going Concern

MARCH 24, 2023

Iris here~ Tax Heaven 3000 is a visual novel dating game that actually prepares your 2022 federal income tax return! It’s always been a dream of mine to meet that special someone…and file their tax return. Tax Heaven 3000 assists a player in creating a self-prepared United States federal income tax return.

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ThomsonReuters

DECEMBER 29, 2022

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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Shay CPA

DECEMBER 7, 2022

Close your accounts. You’ve probably already thought about closing your bank accounts, but that’s not the only area where you need to get things sorted. Specifically, you should look at: Payroll accounts, including withholding, Department of Labor, and state unemployment insurance accounts. Sales tax accounts.

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Accounting Insight

MAY 19, 2023

Accounting software specialist, Bright, has launched its new cloud tax and compliance product at Accountex 2023. The launch of BrightTax offers a new answer to the desire from the accounting industry to adopt cloud-based software which combines secure and essential tools with an enjoyable user experience.

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ThomsonReuters

JANUARY 9, 2024

Jump to: How are C corporations taxed? When are C corp taxes due? How do C corps file taxes? How can C corporations reduce their taxes? But what does that mean for your taxes? How are C corporations taxed? How do C corps file taxes? Corporation Income Tax Return.

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CPA Practice

MAY 9, 2024

More than three-fourths (77%) of tax professionals believe AI technology can be applied to their work, and more than half (56%) of in-house corporate tax teams think their external tax advisers’ firms should be using AI, shows a new report by Thomson Reuters.

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Going Concern

JANUARY 25, 2024

This guy graduated #1 in accounting so he should have no problems DIYing. Client graduated # 1 in accounting and so doesn’t need us to do his simple tax returns anymore. I was charging $1800 (not $3000 – so much for the accounting). Rental property, $1mil+ in stock transactions.

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ThomsonReuters

MARCH 4, 2024

Preparers have the following perfection periods to correct and retransmit tax returns or extensions that were filed on time but were rejected by the filing deadline. The IRS considers returns that are resubmitted electronically during the applicable timeframe as timely-filed returns.

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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.

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Ronika Khanna CPA,CA

MARCH 22, 2024

Table of Contents As an accountant I frequently receive panicked calls from business owners who have received ominous letters from the tax authorities requesting that overdue tax returns be immediately filed. Others receive notices of assessments for estimated taxes payable if they have an overdue tax return.

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PYMNTS

JANUARY 10, 2018

Stripe has announced an addition to its Stripe Atlas toolkit that will help founders file their corporate tax returns in minutes. This new tool can be especially important for resource-strapped startups, which often have difficulty with the tax process even with the help of an adviser.

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ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. Whether it’s advising on residential energy tax credits or restructuring a partnership, your knowledge and expertise beyond the tax return are valuable.

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Going Concern

AUGUST 5, 2022

note: are you obsessed with accounting news? If the world had no accountants [ The Indicator from Planet Money ] As the unsung heroes of the financial world, CPAs (Certified Public Accountants) are responsible for a wide range of important tasks, from balancing the books to investigating fraud. Yeah, us too. million (Sh4.8

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ThomsonReuters

FEBRUARY 9, 2024

Under this act, if a corporation’s CEO or highest-paid employee’s compensation exceeds 50 times the median worker’s pay, the corporate tax rate would be increased by a penalty determined by the legislation. Also, the act addresses the use of optical character recognition (OCR) software.

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Cheap Accounting

NOVEMBER 12, 2022

If you are operating a limited company then you probably know that your accounts have to be filed at Companies House nine months after the end of your accounting year end – unless it’s the first year when the filing deadline is 21 months after the date of incorporation. So in effect you can make the accounts up as usual.

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Cheap Accounting

FEBRUARY 4, 2022

Some times accountancy data can be lost. It’s worth knowing that HMRC may accept a reasonable excuse where your returns are filed late. They say that “a reasonable excuse is something that stopped you meeting a tax obligation that you took reasonable care to meet”. Company Accounts and Corporation Tax Return – annual filing.

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CPA Practice

AUGUST 23, 2023

When it comes to a corporation’s relationship with its accounting firm, the firm itself is less important than the partner who leads its engagement team in lowering its tax rate, according to a new study from Iowa’s Tippie College of Business. The answer is that it’s the partner that matters much more than the accounting firm.”

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Cherry Bekaert

MAY 3, 2024

There are many factors that influence business structure design, including if the company is: Publicly held, private equity-owned or closely held Classified as a pass-through or a corporation for U.S. income tax return. corporations that are expanding into high-tax countries. tax return. and by U.S.

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Wellers Accounting

JUNE 21, 2023

Tom Walker answers the question, what is a director's loan account, explaining how they work, and the potential tax issues and risks involved.

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Xero

JUNE 18, 2023

Here are our latest updates and what they mean for accountants and bookkeepers in the UK. What’s new for UK practices in Xero Tax In addition to delivering a single client record across Xero HQ and XPM, we’ve made a number of updates to Xero Tax in the UK, to help you further streamline accounts and tax work.

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Inform Accounting

OCTOBER 27, 2022

But what if we told you there are several strategies you can adopt to help reduce the amount of tax you pay? Because we are sharing six tips to help you save tax and get the most for your money! Hire an accountant First and foremost, we strongly recommend hiring an accountant. Taxing cryptoassets: what you need to know.

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DuctTapeMarketing

JULY 14, 2018

Cloud-based accounting software can provide a whole suite of tools to help business owners get ahead. Handle payments and manage accounts payable. Prepare the books for tax season. A growing number of small business owners are outsourcing their bookkeeping to cloud-based companies that wrap around accounting software.

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CPA Practice

JUNE 26, 2023

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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Going Concern

NOVEMBER 24, 2022

Work for an innovative, boutique advisory, tax, and accounting firm that works exclusively with growth-focused small to medium-sized businesses. Responsibilities: You will be deeply involved with preparing tax planning & tax consulting services. Knowledge of tax laws and strategies is required. Apply here.

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Withum

JANUARY 13, 2022

Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. This article will serve as a cheat sheet to taxpayers and practitioners to properly report COVID-19 relief funds on their 2021 tax returns. PPP EIDL ERC FFCRA SVOG R R F. Paycheck Protection Program (PPP).

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xendoo

JANUARY 25, 2021

S Corporation Tax Filing. for a calendar tax year). March 15 Submit Form 1120S Income Tax Return. Partnership Tax Filing. for a calendar tax year). March 15 Submit Form 1065 Income Tax Return. C Corporation Tax Filing. for a calendar tax year). Individual Tax Filing.

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MyIRSRelief

APRIL 22, 2024

Compliance with Tax Filings: All tax returns must be filed. The process involves submitting an application to the IRS with a detailed explanation of your financial situation, often with the help of a tax professional. How Can I Resolve Unfiled Tax Returns in Corona, CA? What should I do? What should I do?

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ThomsonReuters

APRIL 17, 2024

This comprehensive study explores the attitudes, perceptions, and usage of GenAI among professionals in the legal, tax & accounting, risk & fraud, and government sectors. However, in the long-run, I think it will be a valuable tool.” How are tax professionals using generative AI?

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ThomsonReuters

JANUARY 21, 2022

It’s a new year and that means new tax laws and other tax changes. Below are changes that take effect this year, along with other tax planning information. First off, the deadline to file individual tax returns is April 18. Other deadlines are: January 17, 2022 : 4th quarter 2021 estimated tax payment due.

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Ronika Khanna CPA,CA

MAY 26, 2023

While submitting your tax return is accompanied by a significant sense of relief, one cannot completely relax until you receive the notice of assessment from Revenue Canada (and Revenue Quebec for those of you lucky enough to file two tax returns). It also provides information pertaining to future years.

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