A guide to Making Tax Digital for Income Tax Self Assessment
Wellers Accounting
JULY 29, 2025
Making Tax Digital for Income Tax Self Assessment is being rolled out in phases, here is a guide of what you need to know and action.
Mississippi, Texas storm victims get tax relief
Accounting Today
JUNE 20, 2025
The current list of eligible localities is on the IRS Tax Relief in Disaster Situations page.) 3 deadline for both states applies to individual income tax returns and payments normally due on April 15, 2025. For individual taxpayers, this means Oct.
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From tax prep to asset management, invoicing and portals, and auditing to remote CFO functions, the services the accounting and tax pros provide are dependent on the technologies they use. The awards highlight the most useful technology for firms and clients.
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How to Streamline Payment Applications & Lien Waivers Through Innovative Construction Technology
Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future
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Tax Fraud Blotter: Sick excuses
Accounting Today
JUNE 12, 2025
EDT 6 Min Read Facebook Twitter LinkedIn Email By any other name; poor Service; a saga continues; and other highlights of recent tax cases. Rockford, Illinois: Tax preparer Gretchen Alvarez, 49, has pleaded guilty to preparing and filing false income tax returns.
Financial Roadmap for Employees Transitioning to Self-Employment
Ronika Khanna CPA,CA
OCTOBER 18, 2024
Budget for Taxes One of the biggest changes when you become self employed is that taxes are not automatically deducted from your paycheque. Rather, you’re responsible for calculating and paying your taxes, which includes both income tax and for those of you who are registered, sales taxes.
KPMG Names Next Management Committee
CPA Practice
JULY 1, 2025
audit, tax and advisory firm, today announced its next Management Committee, effective July 1, 2025. audit, tax and advisory firm, today announced its next Management Committee, effective July 1, 2025. The awards highlight the most useful technology for firms and clients.
Tax Fraud Blotter: Getting personal
Accounting Today
JULY 24, 2025
Sole owner of Zion Outfitter, an outdoor retailer in Springdale, Utah, he handled the company finances and provided CPAs with information and records to prepare tax forms to submit to the IRS. He underreported his taxable personal income, which resulted in his evading at least $1.9 million in income tax. million in taxes.
Xero Simple is here for small businesses
Xero
JUNE 3, 2025
From April 2026, small businesses, sole traders and landlords will need to change how they report income tax to HMRC. New legislation, known as Making Tax Digital for Income Tax (MTD for IT ), is set to be introduced, sparking a shift in financial reporting requirements.
In the blogs: Answer unclear; ask again later
Accounting Today
JULY 22, 2025
Taxable Talk ( [link] ): In this years World Series of Poker, zero is the best tax number. TaxProf Blog ( [link] ): Rebecca Morrows "The Income Tax as a Market Correction" offers a profound ("somewhat cheeky") retort to the many economists who call the income tax inefficient. Virginia – U.S.
Tax Fraud Blotter: Prep perps
Accounting Today
JUNE 5, 2025
CPA Timothy Trifilo has been sentenced to 20 months in prison for making a false statement on a mortgage loan application and for not filing an income tax return. For a decade, he did not file federal income tax returns nor pay taxes owed despite earning more than $7.7 Philadelphia: Tax preparer James J.
Tax Fraud Blotter: Negative waves
Accounting Today
JUNE 19, 2025
Whitman also has not filed an individual income tax return since 1997 and has made no tax payments since 2000. In 2012, the IRS assessed nearly $800,000 in taxes against Whitman for 2002 through 2009 and began trying to collect. Between 2002 and 2018, he generated millions of dollars in gross receipts sales.
New product launches at Accountex London 2025
Accounting Insight
MAY 6, 2025
Exhibitors will be showcasing the best new products, tech, software, services and solutions in the world of accounting. New products TaxCalc (Stand 450) are launching their MTD Quarterly Filer, a new bridging tool for Making Tax Digital for Income Tax.
Not for profit (NFP) self-review return: What you need to know
Reckon
FEBRUARY 20, 2025
However, the new reporting scheme has left some NFPs uncertain of their status or tax obligations. Announced in 2021, the Australian government imposed the new self-reporting requirements to ensure that only eligible NFPs can access income tax exemption. This is a drastic change from how tax exemption was calculated for NFPs.
Tech news: Karbon Practice Management evolves into Practice Intelligence
Accounting Today
JUNE 6, 2025
The upgraded income tax return solution now includes enhanced client onboarding workflows that allow firms to create multiple engagements in bulk to accelerate onboarding. The new AI document assistant transforms lengthy documents into actionable insights by extracting key details.
Tech Startup Accounting Insights From A Y Combinator Company
inDinero Tax Tips
JANUARY 1, 2025
In this article, well explore the essentials of tech startup accounting, including best practices, common mistakes, and the accounting software we think will make your life easier. Download your Series A checklist: Download Here The Importance of Accounting for Tech Startups Accounting is about more than compliance.
Introducing Zoho Books to Sole Traders: A special webinar on MTD readiness
Accounting Web
JULY 29, 2025
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How to avoid Self Assessment penalties
Accounting Insight
JANUARY 16, 2025
Use online tools for calculating tax Using online accounting software like QuickBooks makes the whole process easier, as the software can help perform calculations for you. Some software integrates directly into the tax return system, making it even easier.
TaxCalc unveils new CEO as Charity Accounts set to launch
Accounting Web
JULY 21, 2025
Accounting software Tags Charities Income tax Making tax digital
LeaseCrunch Rebrands as Crunchafi—a Broader Vision for CPA Firms
CPA Practice
JUNE 25, 2025
OBannon LeaseCrunch, a provider of cloud-based accounting software for CPA firms, today announces its rebrand as Crunchafi. The new identity signals a renewed commitment to providing purpose-built solutions that reduce friction, automate complex tasks and empower CPA firms with actionable financial insights.
Deloitte Launches Global Agentic Network
CPA Practice
JULY 1, 2025
audit, tax and advisory firm, today announced its next Management Committee, effective July 1, 2025. OBannon Technology June 30, 2025  Sponsored Special Report: 2025 Readers’ Choice Awards Readers tell us which tax and accounting software they love the most.
Tech news: Audit Sight releases Management Meeting Module
Accounting Today
JULY 11, 2025
million seed funding for agentic AI assistants; and other news and updates from the accounting tech arena. Blockchain-focused accounting software company Ledgible announced the appointment of Tomer Siegal as vice president of product. By Michael Cohn July 10 Like what you see?
Rethink expense report workflows for company credit cards
Accounting Today
JULY 11, 2025
By Jeff Stimpson July 10 Tax Smith+Howard starts new tax practices Smith + Howard, an Atlanta-based Top 100 Firm, has opened two new tax practices: site selection + incentives and state and local income tax consulting. By Michael Cohn July 10 Like what you see?
The state of the 'Big Beautiful Bill' and more
Accounting Today
JUNE 9, 2025
billion in fraudulent earned income tax credits given out, which represented about a third of the tax returns that had the EITC credit on there. Neil Fishman (31:58): Yeah, but one other thing I want to point out from that report from the taxpayer advocate, in fiscal year 23, there was 21.9
Tax Fraud Blotter: Who ya gonna call?
Accounting Today
JULY 10, 2025
Brown and other ghost preparers who worked with him falsified 63 federal income tax returns for clients, causing the Treasury to issue $1,003,631 in false tax refunds. He owned and operated We Are Taxes and boasted that "Everyone Gets a Check!" Brown had clients pay him a 10% fee of each refund.
Tax Fraud Blotter: Hard lessons
Accounting Today
JULY 21, 2025
Most of the companys income was generated from the Ohio Department of Disabilities, which receives its funding through Ohio Medicaid. IRS records analysis confirmed that the defendant did not file income tax returns for 2015 and 2016, but he eventually prepared and filed those documents two years later, in April 2018.
More winners and losers from the Trump tax bill
Accounting Today
JULY 15, 2025
The bill said that you had to have the asset placed in service by 2027 but also you had to start construction on that facility within one year of the enactment date," said Ian Boccaccio, principal and income tax practice leader at tax firm Ryan. "If
In the blogs: Here to stay
Accounting Today
JUNE 24, 2025
The Wandering Tax Pro ( [link] ): What politicos dub "tax reform" just adds complexity to the code. How any "new Internal Revenue Code must acknowledge and confirm that the one and only purpose of the federal income tax system is to raise the money necessary to fund the government."
Tax Fraud Blotter: Boundless energy
Accounting Today
JUNE 26, 2025
During the 2016 through 2022 tax years, Gibson prepared at least 135 returns containing fraudulent information, causing a loss to the IRS of at least $125,197, which Gibson has agreed to pay in restitution.
Ryan advises clients on tariff issues
Accounting Today
JUNE 18, 2025
Since Ryan is a global tax consulting firm, he has been working with the firms Australian, Canadian, European, and U.S. We look at the tariffs that are being paid and we say, how are these impacting other tariffs, or how are these tariffs impacting other tax types? teams of customs and duties experts.
After 'successful' season, new IRS problems loom: TAS
Accounting Today
JUNE 25, 2025
With the IRS workforce reduced by 26% and significant tax law changes on the horizon, there are risks to next years filing season," Collins said. "It It is critical that the IRS begin to take steps now to prepare." More than 95% of processed returns were e-filed and some 62% resulted in refunds.
UK watchdog probes Deloitte audit of collapsed fintech
Accounting Today
JULY 10, 2025
By Jeff Stimpson 5h ago Tax Smith+Howard starts new tax practices Smith + Howard, an Atlanta-based Top 100 Firm, has opened two new tax practices: Site Selection + Incentives and State and Local Income Tax Consulting.
Auditors with unusual names deviated from rules, study finds
Accounting Today
JULY 10, 2025
By Jeff Stimpson 5h ago Tax Smith+Howard starts new tax practices Smith + Howard, an Atlanta-based Top 100 Firm, has opened two new tax practices: Site Selection + Incentives and State and Local Income Tax Consulting.
On the move: REDW appoints first OKC principal-in-charge
Accounting Today
JULY 11, 2025
GEORGIA Shelly Carmichael Smith + Howard, Atlanta, launched two new tax practices: site selection + incentives, led by Shelly Carmichael, and state and local income tax consulting, led by Brandee Tilman. Read the full story.) ILLINOIS Jason Van de Loo was appointed CEO at Choreo, Chicago.
Texas flooding, weather victims get tax relief
Accounting Today
JULY 15, 2025
The February deadline applies to: Any individual, business or tax-exempt organization that has a valid extension to file their 2024 return due to run out on Oct. 15, 2025; Quarterly estimated income tax payments normally due on Sept. 15, 2026; Quarterly payroll and excise tax returns normally due on July 31, Oct.
It's time to better manage your cloud costs
Accounting Today
JULY 10, 2025
By Jeff Stimpson 5h ago Tax Smith+Howard starts new tax practices Smith + Howard, an Atlanta-based Top 100 Firm, has opened two new tax practices: Site Selection + Incentives and State and Local Income Tax Consulting.
Spring forecast 2025 wish list: Technology
Menzies
MARCH 6, 2025
Elsewhere, we hope there will finally be some certainty over an implementation date for Making Tax Digital for Income Tax Self Assessment. For those in the business of accounts software there should be a boom when MTD for ITSA eventually takes off.
This Phishing Scam Gets an Identity Theft Expert ‘Really, Very Angry’
CPA Practice
JUNE 10, 2025
OBannon Technology June 9, 2025  Why Customer Service is Critical in Accounting Software As accounting technology continues to evolve, prioritizing customer service ensures solutions not only meet but exceed user expectations, transforming software providers into indispensable partners.
What you need to know about quarterly updates for Making Tax Digital for Income Tax Self Assessment
Xero
JUNE 13, 2022
While here may not be the best place to ponder the ebb and flow of time, it is worth bearing in mind when assessing the April 2024 starting date for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA). Affected taxpayers or their accountant or bookkeeper can submit quarterly updates for MTD for ITSA.
We tackle questions landlords may have around Making Tax Digital for Income Tax Self Assessment
Xero
MAY 27, 2022
If you’re a landlord , you’ll likely have felt the rumblings around Making Tax Digital for Income Tax Self Assessment ( MTD for ITSA ). . For example, if you’ve received income from shares in a real estate investment trust (REIT), you won’t have to comply. There are some exemptions to MTD for ITSA rules.
How to File Income Tax Return: Tax Filing Preparation Guide 2022
Snyder
JUNE 9, 2022
For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.
4 Accounting Transactions that Use Journal Entries and How to Enter them in QBO
Ronika Khanna CPA,CA
MAY 5, 2024
Accounting software has come a long way in the past few years. Although a good bookkeeper can be invaluable, It has become fairly easy for business owners and their support staff to take on the responsibility of entering day to day transactions while they employ accountants for the more complex aspects of their accounting and tax.
How to do BAS in the real world?
Reckon
OCTOBER 16, 2022
Furthermore, he’s pretty good with software and should have no problems doing his own BAS, which is much easier than it sounds. Since Arnie can easily lodge BAS by himself with the help of his accounting software and doesn’t earn a lot of money, he doesn’t necessarily need to hire a BAS agent. Both are popular and easy options.
16 Common Financial and Tax Mistakes That Affect Your Small Business’ Bottom Line
Ronika Khanna CPA,CA
SEPTEMBER 22, 2023
While many small businesses or freelancers do not need accounting software , at minimum an excel or google docs spreadsheet can be used to track your transactions. Not paying instalments When a business reaches a certain income and sales tax threshold, they are required to pay income tax and sales tax instalments.
The golden rules to avoid a massive tax bill as a sole trader
Reckon
JUNE 21, 2022
Take heed of our sound tactics to better manage your income and taxes to avoid a massive tax bill in the future. 1) Know your tax bracket and tax rates. To understand your tax rate as a sole trader business, simply use the ATO’s income tax calculator for accuracy and peace of mind.
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