CPA Practice

JULY 7, 2025

Provide guidance on Notice 2020-75 and sections 469 and 163 on nonpassive versus passive income and interest expense tracing. Provide guidance on section 111 application to state tax refunds at the individual level and ordering between passthrough entity income tax payments and nondeductible estimated payments and withholding.

cpas

TaxConnex

DECEMBER 17, 2024

Leaving these key positions vacant can result in a lack of bandwidth or expertise to manage sales tax inviting non-compliance. Audits: Just as you develop a system to track sales tax obligations, you should also make it a priority for 2025 to keep tabs on audit notices. You can prepare for an audit in other ways, too.

Sales

CPA Practice

JULY 24, 2025

Read the FAQs Subscribe for free to get personalized daily content, newsletters, continuing education, podcasts, whitepapers and more.

Technology

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.

Tax

Accounting Today

JULY 24, 2025

He underreported his taxable personal income, which resulted in his evading at least $1.9 million in income tax. West Long Branch, New Jersey: Resident Matthew Tucci has pleaded guilty to tax evasion. Hoover, Alabama: Chiropractor Gary Forrest Edwards has pleaded guilty to tax evasion and to obstructing the IRS.

Tax

Shay CPA

JULY 16, 2025

Over the last 20 years of being an accountant, I’ve opened my fair share of mail to find tax notices so daunting they could wake you in cold sweat. These letters—from federal, state, or city agencies—might demand income tax, franchise tax, sales tax, unemployment insurance, or workers’ compensation.

Delaware

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 million during that time.

Tax

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.

Tax

Accounting Today

JUNE 6, 2025

Wolters Kluwer releases AI audit documentation solution Wolters Kluwer HQ Wolters Klower announced TeamMate+ AI Editor, a generative AI writing engine designed to enhance the quality of audit documentation with data protection and safeguards.

Technology

CPA Practice

JULY 14, 2025

The new promotions reach across several areas of the firm’s service offerings, including the firm’s tax, audit and consulting practices, as well as the growing wealth management practice. Logan Kowcheck, CPA joined Schneider Downs in 2011 in the firm’s audit practice group. He graduated with a B.S.B.A

West Virginia

SkagitCountyTaxServices

MARCH 6, 2025

And unfortunately, its not mostly the fun stuff keeping you busy its things more on the housekeeping side of running your business, like meeting tax and other important government deadlines. Monday, March 17 : S corporation and partnership tax returns are due for calendar-year businesses. Whats in it for you?

tax return

MyIRSRelief

MAY 23, 2025

A: As an Enrolled Agent (EA), Mike Habib holds the highest credential awarded by the IRS for tax professionals. This designation grants unlimited practice rights before the Internal Revenue Service, meaning he can represent clients in all tax matters including audits, collections, and appeals at every level of the IRS.

California

Going Concern

JUNE 5, 2025

Whether you’re looking for talent in tax, audit, accounting, or project-based roles, we’ve got candidates worth your time. Accountingfly’s Always-On Recruiting gives you immediate access to a curated pool of top remote candidates— with no upfront cost.

Real Estate

MyIRSRelief

JULY 25, 2025

Metro Area Cincinnati-Middletown, OH-KY-IN MSA Tax issues can be overwhelming, whether you’re an individual taxpayer or a business owner in Cincinnati, OH. From unfiled tax returns to unpaid back taxes, IRS audits, payroll tax problems, and liens or levies, these challenges can disrupt your financial stability and peace of mind.

Ohio

Going Concern

FEBRUARY 10, 2025

He mostly audited businesses mostly. You’d think it paid a lot in taxes, right? Well it paid precisely $0 in federal income taxes last year. Sendil Palani replies : Professor, Respectfully, Tesla’s income taxes are not an example of fraud. You want waste and fraud? Good luck with that, taxpayers.

Indiana

Accounting Insight

MAY 1, 2025

In this guide we cover everything you need to know about preparing for MTDincluding what it means for income tax and self-assessment, as well as MTD for Income Tax. What is MTD for Income Tax (MTD)? The change will affect those with over 50,000 in income per year in 2026, moving to 30,000 in 2027.

Tax

inDinero Tax Tips

JANUARY 1, 2025

Tax returns arent worth a founder’s time. As shares vest and increase in value, so do the income tax consequences of receiving them as compensation. By filing the 83(b) election, you can lock in the lower equity valuation for tax purposes, saving you and would-be investors considerably.

accrual accounting

Going Concern

JULY 10, 2025

Whether you’re looking for talent in tax, audit, accounting, or project-based roles, we’ve got candidates worth your time. Accountingfly’s Always-On Recruiting gives you immediate access to a curated pool of top remote candidates— with no upfront cost.

Real Estate

CPA Practice

JUNE 26, 2025

The company also uses Avalara’s tax code database and AI tools to classify product SKUs and apply exemptions efficiently within Shopify. By reducing manual intervention and automating sales tax returns, the tax team saved significant time and reduced errors across filings in more than 50 U.S. jurisdictions.

Technology

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.

Tax

CPA Practice

JUNE 18, 2025

Removed from Senate Bill: Restriction on regulation of contingency fees with respect to tax returns. The Child Tax Credit is also included and reflects a permanent increase to $2,200. Restoration of the limitation of “downward attribution” of stock ownership under section 958(b). Log In Need more information?

Tax

Accounting Today

JUNE 9, 2025

You go to the beauty portal, you go to the barbershop, they have more protection than a person who prepares tax returns. So it is safe to say that 70% of the people who prepare tax returns are not credentialed. Now, every month, the IRS comes out with a list on information on active pns. Youre counted in each category.

Washington

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

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.

Rhode Island

Generate Accounting

OCTOBER 31, 2024

IR will be making unannounced visits to hundreds of businesses who they believe aren’t meeting all their tax obligations as employers. These visits can lead to a full tax audit. ” “Businesses need to keep a record of and declare all income and sales, including any cash sales.

audit

CPA Practice

JULY 25, 2025

Accounting July 25, 2025  San Francisco-Area Accountant Faces More Federal Charges Michael Gilbert, who was charged with filing false tax returns in February, was indicted this week on charges of mail fraud and money laundering in an alleged scheme that deceived clients.

Technology

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 More than 95% of processed returns were e-filed and some 62% resulted in refunds. IRS employees manually transcribe data from paper-filed tax returns, digit by digit, into IRS systems.

Technology

Going Concern

APRIL 11, 2025

sector leader for asset management; David Neuenhaus appointed tax sector leader for asset management; Matt Giordano appointed audit sector leader and audit service line leader for asset management. IRS audits are at a record low and could plunge even further following President Trumps cuts, the New York Times reported yesterday.

audit

Going Concern

JULY 18, 2025

Audit Automated auditors: could AI undermine financial reporting? Paradoxically, AI can turn the audit into a black box,” he adds. Then, just 38 per cent of BDO’s audits were ranked as satisfactory. Here in Massachusetts, the collapse last year of Steward Health Care has been widely blamed on its ties to PE.

audit

CPA Practice

JULY 15, 2025

Many people assume that the maximum 529 plan contribution is $19,000 per child in 2025—or $38,000 if you file jointly—but that’s the maximum amount you can contribute without exceeding the annual gift tax limit. (If Here’s what else you should know about using a 529 plan to save for your kids’ education.

Technology

CPA Practice

JULY 14, 2025

According to court documents, Festus Adenisimi, of Mansfield, Texas, was the owner of FA Tax, a tax preparation business located in Grand Prairie, where he and other tax preparers prepared fraudulent tax returns for their clients, often causing the IRS to issue refunds to those clients. in restitution.

tax preparation

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.

Texas

CPA Practice

JUNE 23, 2025

Jason Bramwell Taxes June 23, 2025  IRS Refines Pre-Filing Agreement Tax Certainty Program Improvements made to the IRS Pre-Filing Agreement program will provide greater tax certainty for large business and international taxpayers, the agency announced on June 17.

Missouri

TaxConnex

JULY 18, 2024

Maintaining compliance documentation is crucial for businesses to ensure smooth and successful audits. Unfortunately, many businesses find themselves unprepared when faced with an audit, lacking the necessary documentation. These certificates validate the tax-exempt status of certain sales and are vital during an audit.

audit

MyIRSRelief

APRIL 1, 2022

Amending and or correcting a US individual 1040 income tax return (1040X), there are many reasons to do so: correcting filing status of the taxpayers, which if not corrected, would result in incorrect total income reported, tax deductions and tax credits. Changing IRA deduction (Form 8606).

tax return

CPA Practice

SEPTEMBER 22, 2023

Taylor, Kiplinger Consumer News Service (TNS) IRS audits raise anxiety for many taxpayers. What can be even more frustrating is when those examinations seem unevenly targeted to taxpayers with lower incomes. That’s been the case with the earned income tax credit (EITC), which has been the subject of recent controversy. (A

audit

TaxConnex

APRIL 20, 2021

This time of year, everybody’s mind is on income tax preparation. The fact is, when it comes to many companies’ federal and state income tax returns, they don’t rely on an automated income tax return. Why should sales tax be any different? They turn to experts.

Sales