Remove blog a-complete-guide-to-accounts-receivables
article thumbnail

IRS e-file rejection grace period of timely-filed returns and extensions

ThomsonReuters

Any taxpayer who received a rejected e-filed tax return has a rejection grace period of 5 calendar days after the official filing deadline (usually April 15) to retransmit the return or extension. The IRS considers returns that are resubmitted electronically during the applicable timeframe as timely-filed returns.

article thumbnail

Understanding Form 8283 and non-cash charitable contributions

ThomsonReuters

For accountants, navigating the complexities of Form 8283 and the tax implications of non-cash charitable contributions is essential in providing solid financial guidance to clients and optimizing their tax benefits. Jump to: What is Form 8283? Boat donation tax deduction What is the cost basis for non-cash charitable contributions?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

5 Steps to a Complete Sales Tax Filing Process

TaxConnex

This blog will help explain one part of the sales tax compliance puzzle: your filing process. However, the reality is that businesses grow, they acquire other businesses, they change accounting systems, they launch new e-commerce platforms - all resulting in different sales tax processes. Don’t let sales tax compliance overwhelm you.

Sales 222
article thumbnail

The Certified Payroll Professional Corner: Worker Status

ThomsonReuters

This marks our eighth CPP Corner and we would be interested in receiving feedback from you about the CPP exam in general. The penalties regarding information returns, including Forms W-2, are discussed in Payroll Guide ¶4294. Payroll Guide ¶4260 goes over the Form W-2 in general. We want to hear from you! 110 per return.”

payroll 89
article thumbnail

What is Schedule 8812?

ThomsonReuters

Additionally, the form requires certain financial figures, such as earned income and nontaxable combat pay. The Schedule 8812 instructions guide taxpayers through the process of calculating the additional child tax credit using a multi-step formula. Jump to: What is the additional child tax credit?

Tax 52
article thumbnail

Small firm, big impact: Tennick Accountants win hotly contested Xero Award

Xero

You win, or you learn – that’s one of Tennick Accountants’ internal mottos, and one that encouraged the firm to put themselves in the running and enter the 2023 Xero Awards UK & Ireland. Regardless of how our application was received, it made all of the team proud just taking a step back and reflecting.”

Account 118
article thumbnail

Spotlighting Women in Advisory Practice: “We needed to focus on what people wanted,” says Erin Heath, CPA

ThomsonReuters

There are many paths to accountancy, but this is one we don’t hear of often:  Erin Heath   grew up on a cattle ranch in South Dakota, where many of her “ranch-hand” duties sparked her interest in numbers. But it was an introduction to accounting class in high school that paved the way. “It It was love at first sight,” she recalls. “I

CPA 98