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

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. All rights reserved. Virginia – U.S.

E-commerce

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 26, 2025

Hartford, Connecticut: Tax preparer Clyde Gibson Jr., 43, has pleaded guilty to tax fraud. From at least 2015 into 2024, Gibson was a tax preparer under the name Build Understand Destroys LLC. He prepared thousands of federal returns, many of which claimed false deductions. All rights reserved.

Tax

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. All rights reserved. By Michael Cohn July 10 Like what you see?

Technology

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. All rights reserved. By Michael Cohn July 10 Like what you see?

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

For the "Standard" option, Brown had his preparers falsely claim sick and family leave credits and other false items. 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. All rights reserved.

Tax

Accounting Today

JULY 21, 2025

Grand Prairie, Texas: Four tax preparers convicted of defrauding the IRS of nearly $8 million have been sentenced to a combined 105 months in prison. Adenisimi pleaded guilty last year to falsely preparing returns and admitted to fraudulently obtaining two Paycheck Protection Program loans totaling $760,415. income tax return.

Rhode Island

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 All rights reserved.

Tax

Accounting Today

AUGUST 4, 2025

These multi-hustles can range from hobbies like selling baseball cards on up to truly working multiple jobs at once, and its making those individuals financial, accounting and tax situations far more difficult. Traditionally, accounting firms may have offered a personal income tax return option along with a business owners C corp tax returns.

accounted

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." By Michael Cohn 4h ago Tax House vs.

tax preparation

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? All rights reserved. teams of customs and duties experts.

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 It is critical that the IRS begin to take steps now to prepare." All rights reserved. More than 95% of processed returns were e-filed and some 62% resulted in refunds.

Technology

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. All rights reserved.

audit

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. All rights reserved.

auditor

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. All rights reserved. Read the full story.) ILLINOIS Jason Van de Loo was appointed CEO at Choreo, Chicago.

Oklahoma

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

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. All rights reserved.

Technology

Withum

OCTOBER 3, 2024

Does disaster relief apply to a taxpayer that is not in a disaster area, but the tax preparer is? Per the IRS website , disaster relief applies to the clients of tax preparers who are unable to file returns or make payments on behalf of the client because of a federally declared disaster.

South Carolina

Canopy Accounting

SEPTEMBER 29, 2023

Corporation Income Tax Return, plays a crucial role in the world of taxation for corporations. In this blogpost, we will explore the key aspects of Form 1120 and its significance in filing corporate taxes. Form 1120, the U.S.

income 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. Taylor prepared 779 returns for S corporations between tax years 2017 and 2020.

tax return

CPA Practice

AUGUST 23, 2023

Wilde’s team analyzed more than 94,000 tax returns of U.S. businesses with at least $10 million in assets that used an external tax preparer between 2005 and 2016. Wilde’s study, “Who really matters in corporate tax?” Most of the businesses—91%–were private and their data was provided by the IRS. The study found….

business tax

xendoo

JANUARY 12, 2022

You can use the information and the dates we provide to form a strategic plan for preparing and filing your taxes in 2022. What Is the Business Tax Filing Deadline for 2022? You may have already marked April 18, 2022, on your calendar to remind you to pay your personal income taxes. Want to learn more?

business tax

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.

corporation tax

ThomsonReuters

JULY 6, 2023

Let’s take a look at what tax advisory is and how you can take advantage of this approach to serving clients. What are tax advisory services?

Tax

xendoo

SEPTEMBER 10, 2021

Corporate tax preparation . Business Tax Preparation and Filings. Taxes represent a unique SMB bookkeeping demand. On the one hand, tax preparation is a yearly chore, but on the other hand, business tax codes can be complex, and ever-changing. . Financial statements .

bookkeeping

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.

corporation tax

xendoo

MAY 30, 2021

Florida business owners should be aware of the following: Corporations that do business in Florida must pay a 5.5% income tax. Florida has a sales tax rate of 6%. S Corporations are exempt from paying state income tax. Sole proprietorships, partnerships, and most LLCs are exempt from state income tax.

Florida

SkagitCountyTaxServices

AUGUST 26, 2021

Per the Treasury , the bill will target tax increases on big corporations (raising the corporate income tax — i.e. C-corps — to 28%, among other moves) while protecting the majority of small businesses (around 97%). First off (and most importantly), plan ahead.

business tax

Analytix Finance & Accounting

NOVEMBER 30, 2023

Sole proprietors need to manage their finances to cover both: income and self-employment tax obligations. Tax liability is straightforward. Owner pays taxes at their individual income tax rate on the net profits of the business. Corporations pay corporate income tax on profits.

Tax

inDinero Tax Tips

MARCH 3, 2021

Using your entity type, you can identify your deadline for filing business income taxes and what it would be if you elect to take advantage of the extension, which needs to be filed before the original tax deadline date. Extension tax deadline for partnerships ( Form 1065 ). S Corporation Tax Deadlines.

business tax

MyIRSRelief

APRIL 22, 2024

Discuss Payment Options: If you owe taxes, discuss payment options with your advisor. Form 941 is used by employers to report income taxes, social security tax, or Medicare tax withheld from employees’ paychecks. Problems with payroll taxes are serious and require immediate attention.

Tax

xendoo

DECEMBER 11, 2022

Corporations and LLCs that are taxed as corporations must use this form to report their income, tax deductions , and credits. Corporation Income Tax Return, is an IRS form that certain businesses use to file taxes. Net capital gain income. Tax deductions (These vary by company.

Tax

inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . The IRS announced a plan to increase audits for small businesses by 50% for the 2020 tax year. Our CPAs Answer Your Top 5 Burning Tax Questions.

Tax

Ronika Khanna CPA,CA

FEBRUARY 23, 2023

Probably the most popular question posed to accountants and tax preparers (especially around this time of year) is “what types of expenses are deductible?”. The short answer is that a business expense is considered to be deductible if it has been incurred with the ultimate purpose of earning income.

Tax

Withum

OCTOBER 18, 2023

The QBI deduction was adopted primarily to keep pass-through business owners on a level playing field with large corporations that are enjoying a permanent flat 21% federal tax rate. However, unlike the reduced corporate tax rate, the QBI deduction is only temporary and no longer available after December 31, 2025.

Tax