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. All rights reserved. The new AI document assistant transforms lengthy documents into actionable insights by extracting key details.

Technology

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. All rights reserved. Herman Estes Jr. In March 2023, Estes made a $1.3 Sentencing is Sept.

Tax

Withum

DECEMBER 4, 2024

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. 179D deduction to the person “primarily responsible” for the design.

Tax

Accounting Today

JUNE 9, 2025

By Daniel Hood 34m ago Technology Instead adds AI-driven tax reports The reports harness artificial intelligence to analyze full tax returns to glean tax strategies and missed opportunities. All rights reserved.

Account

Accounting Today

JUNE 9, 2025

As much as weve talked about it, our governance never really allowed for partner accountability to occur in firms. By Daniel Hood 35m ago Technology Instead adds AI-driven tax reports The reports harness artificial intelligence to analyze full tax returns to glean tax strategies and missed opportunities.

Account

ThomsonReuters

NOVEMBER 19, 2024

Corporate tax departments also must contend with limited resources, including budget constraints and a shortage of skilled professionals. Some jurisdictions may tax software differently from hardware, while others might treat certain digital health tools as exempt from VAT if they are deemed necessary for patient care.

Technology

Accounting Today

JULY 29, 2025

Accountants also dedicate substantial time to recording activities, including (though increasingly automated by software) ledger entries, tax liability entries, transfer pricing, intercompany transactions, tax return preparation and preparing for SEC filings in publicly listed organizations. All rights reserved.

accounting and finance

ThomsonReuters

APRIL 15, 2025

From compiling tax returns, to compliance reporting, to providing visibility over the impact of liabilities on business operations, having up-to-date, complete and accurate data at your fingertips is vital. Tax data is a critical business asset, but one which is still too often under-utilized.

Technology

Accounting Today

JUNE 9, 2025

There were corporate tax provisions which were permanent, (02:20): And there were the individual and estate provisions, which under that law are scheduled to sunset at the end of this year. So if Congress were to do nothing, just were to do nothing, which we know is not going to happen, but still tax pockets would go back up one to 4%.

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!" All rights reserved. Brown had clients pay him a 10% fee of each refund.

Tax

Menzies

AUGUST 6, 2025

This information will then automatically prepopulate on tax returns. Launch a new expenses service to enable PAYE taxpayers to submit claims for tax relief on their allowable expenses and upload supporting evidence all in one place. In 2023/24, the tax gap stood at £46.8 billion which is a concern.

tax return

Accounting Today

JULY 2, 2025

Was This Convicted Tax Return Preparer Courageous or Foolish?" CLA ( [link] ): Real-estate-owning clients looking for ways to streamline tax compliance and enhance deductions can look to an often-overlooked strategy: the de minimis safe harbor election. All rights reserved. Tips to prepare them.

North Carolina

Accounting Today

JULY 29, 2025

The Office of Personnel Management recently proposed a rule adding new suitability criteria for federal employees, including "failure to comply with generally applicable legal obligations, including timely filing of tax returns." All rights reserved.

Tax

MyIRSRelief

DECEMBER 1, 2023

This article will answer some of the most frequently asked questions about C Corporation tax savings. What is a C Corporation? A C Corporation is a legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity. Corporation Income Tax Return.

corporation tax

Withum

JANUARY 13, 2022

From the Paycheck Protection Program (PPP) to the Employee Retention Credit (ERC), small businesses were infused with billions of dollars in government assistance to keep the economy running and businesses afloat. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns.

Tax

Ronika Khanna CPA,CA

JUNE 7, 2024

It can be easy to ignore these notices in favour of more pressing business related issues, which is probably the worst thing to do since the government is extremely persistent and will usually follow up with arbitrary assessments and interest and penalties. If you are registered in Quebec, you are also required to file QST Returns.

Tax

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. The Department of Justice filed a civil complaint in Eastern Washington District U.S.

tax return

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.

corporation tax

ThomsonReuters

JUNE 26, 2024

Businesses must innovate and adapt to the changing indirect tax landscape to stay competitive. Corporate tax departments are using technology increasingly as a strategic partner to address these issues. The 2023 State of the Corporate Tax Department study describes this shift as going from a reactive to a proactive state.

corporation tax

Withum

OCTOBER 3, 2024

Individuals and households that reside or have a business in any one of these localities qualify for tax relief, including: Individuals whose principal residence is located in a covered disaster area and their spouse, if filing jointly. The most common filings and postponements are listed below.

South Carolina

Inform Accounting

OCTOBER 14, 2022

In this press conference, the September tax cuts as promised in the mini-budget have been watered down even further. What we know so far is that: The Corporation Tax will rise from 19% to 25% in April 2023. It is clear that the Conservative government is in turmoil right now. Taxing cryptoassets: what you need to know.

Government

ThomsonReuters

DECEMBER 20, 2020

Both sales tax and VAT are types of indirect tax – a tax collected by the seller who charges the buyer at the time of purchase and then pays or remits the tax to the government on behalf of the buyer. Sales tax and VAT are a common cause of confusion within the corporate tax community.

Sales

Xero

AUGUST 11, 2022

Frankly, you already have enough to remember, thanks to Making Tax Digital (MTD) for VAT and Income Tax Self Assessment (ITSA). The government legislation with the goal of digitising the tax process has been underway for some time, and the next step is looming large on the horizon. Where to find more information.

income tax

Ronika Khanna CPA,CA

DECEMBER 2, 2022

If you do decide to pay yourself dividends, it is important to ensure that you prepare the proper documentation for Revenue Canada (CRA) and if you live in Quebec, Revenue Quebec (MRQ) since this must be reported as investment income on your personal tax return in the calendar year in which the dividends are paid. available at Amazon.

tax return

CPA Practice

AUGUST 22, 2023

Key industry findings from the report: Tax and Accounting Professionals: Freeing up time to deliver more value: Productivity is the highest priority for tax and accounting firms (59%), while internal efficiency (75%) tops the list in corporate tax and accounting departments. To access the full report, visit [link]

Legal

CPA Practice

JUNE 1, 2023

BEPS also requires that companies itemize their revenues by country, and as taxation bodies develop more sophisticated models that compare BEPS data with corporate tax return data, there may be an increase in investigations. Further, teams need to adapt to a shifting landscape of rules as the framework evolves over time.

Tax

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?

Tax

PYMNTS

JANUARY 18, 2021

government's inability to curb the risk of fraud that emerged during the first round of PPP funding. This week's B2B Data Digest takes a look at the numbers behind the latest instances of fraud, including fraudulent invoices, corporate tax scams and more. $19 But new concerns are mounting over the U.S.

B2B

CPA Practice

APRIL 17, 2023

Still, the failure to recognize the importance of proper tax planning adds up. Depending on your state and business type, at least a third of your profits will go to various layers of government. A similar boost was the Tax Cuts and Jobs Act of 2017, which slashed corporate taxes to a 21% rate.

Tax

Inform Accounting

JUNE 27, 2022

Late payment interest is payable on late tax bills covering income tax, National Insurance contributions, capital gain tax, stamp duty land tax, stamp duty and stamp duty reserve tax. The corporation tax pay and file rate also increases to 3.75%. Remember to declare COVID-19 grants on your tax return.

corporation tax

Withum

MARCH 21, 2022

As you may recall, the 199A deduction was incorporated in the TCJA as a compromise for pass-through entities owners after significant public comment following the proposed decline of the corporate tax rate 35% to 21%. This results in over $100,000 more cash for the C corporation. So what does it all mean?

corporation tax

Going Concern

AUGUST 5, 2022

Department of Education makes $300 billion accounting mistake on student loans [ Washington Examiner ] A new report from the Government Accountability Office details a breathtaking discrepancy between what the federal government claimed the student loan program would generate, and what it actually costs taxpayers.

Account

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.

Tax

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.

tax return

Inform Accounting

JUNE 23, 2022

We appreciate agents' and claimants' patience while we handle these claims and continue to offer the guidance below: To help us process your R&D payment quickly, please ensure you have completed all entries on the R&D section of your Corporation Tax return (CT600 form). Taxing cryptoassets: what you need to know.

Tax

Ronika Khanna CPA,CA

NOVEMBER 26, 2024

In the fall of 2018, the federal government decided to introduce a tax incentive called the Accelerated Investment Incentive (AII). In layman’s terms, it means you could claim a higher amount of depreciation on assets such as computer, equipment, furniture etc, in the year of purchase, thereby reducing your taxes in the short term.

Tax

Inform Accounting

SEPTEMBER 23, 2022

The Government has set an ambitious target to achieve a trend rate of growth of 2.5%, achieved by tax incentives to encourage investment in the UK. The Government was criticised in the lead up to today’s announcement for not allowing the Office for Budget Responsibility (OBR) to release forecasts with the mini budget.

income tax