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. years) to a shorter depreciable tax life (e.g., 3, 5, 7, 15, or 20 years).

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

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 All rights reserved.

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

Tax

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

Withum

DECEMBER 17, 2024

The issue surrounding this additional 20% deduction means that owners of S Corporations and Partnerships will see an increase in their taxes by the sunsetting of this extra 20% deduction. It is important to note the TCJA sunsetting will not eliminate the 21% corporate tax rate.

Tax

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. All rights reserved.

Tax

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. You go to the beauty portal, you go to the barbershop, they have more protection than a person who prepares tax returns.

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.

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

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.

accountant

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. An increase in available online services to allow taxpayers and agents to self-serve online.

tax return

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

Wellers Accounting

FEBRUARY 21, 2025

Tom Biggs explains the various end of tax year considerations, and strategies, that form effective tax planning to potentially reduce your bill.

Tax

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

MyIRSRelief

NOVEMBER 17, 2023

S Corporations are a popular choice for many business owners due to their unique tax benefits. This article will answer some of the most frequently asked questions about S Corporation tax savings. What is an S Corporation? We assist in business tax compliance, preparation, planning and representation.

corporation tax

MyIRSRelief

DECEMBER 1, 2023

C Corporations are a common choice for many businesses, offering a range of tax benefits that can lead to significant savings. This article will answer some of the most frequently asked questions about C Corporation tax savings. What is a C Corporation? This can significantly reduce a corporation’s taxable income.

corporation tax

ThomsonReuters

AUGUST 25, 2023

Jump to: How does depreciation affect corporation taxes? Accelerated depreciation for corporations How does depreciation work in an S corporation? What is the depreciation guidance for corporate alternative minimum tax? In short, depreciation can result in a reduction in corporate taxes.

corporation tax

Cherry Bekaert

JULY 14, 2023

More and more states treat software-as-a-service (SaaS) or platform-as-a-service (PaaS), hosting services and other data-processing services as taxable services and subject to sales tax, which shouldn’t be ignored. However, state income tax issues for PTEs generally receive less attention in the technology industry.

income tax

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

ThomsonReuters

NOVEMBER 2, 2021

As a corporate tax professional, you know the complexities of complying with business taxation requirements. Your company may have to file corporate tax returns in multiple states and local jurisdictions, as well as with federal — and perhaps international — tax authorities. is a C corporation.

tax return

Withum

JANUARY 13, 2022

Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. This article will serve as a cheat sheet to taxpayers and practitioners to properly report COVID-19 relief funds on their 2021 tax returns. PPP EIDL ERC FFCRA SVOG R R F. Paycheck Protection Program (PPP).

Tax

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

SMBAccountant

MARCH 8, 2023

According to Investopedia, tax accounting is “a structure of accounting methods focused on taxes rather than the appearance of public financial statements”. Tax accounting applies to individuals, businesses, and corporations. Tax accountants must use the Internal Revenue Code (IRC) to provide accurate tax returns.

tax accountant

xendoo

JANUARY 25, 2021

S Corporation Tax Filing. for a calendar tax year). March 15 Submit Form 1120S Income Tax Return. Partnership Tax Filing. for a calendar tax year). March 15 Submit Form 1065 Income Tax Return. C Corporation Tax Filing. for a calendar tax year).

Tax

Withum

OCTOBER 3, 2024

2023 Federal Form 1120 (C Corporations) April 15, 2023 October 15, 2024 May 1, 2025 2023 C Corporation Tax Payments April 15, 2023 June 15, 2023 September 15, 2023 December 15, 2023 N/A The IRS noted payments related to 2023 returns are not eligible for the extra time because they were due last spring before the hurricane occurred.

South Carolina

MyIRSRelief

MAY 19, 2023

In these situations, seeking professional tax help in New York can make a significant difference in resolving your tax problems and avoiding legal and financial consequences. Contact us for tax help today. Back Taxes Back taxes refer to unpaid taxes from previous years, which can accumulate interest and penalties over time.

New York

TaxConnex

NOVEMBER 10, 2022

I graduated in 1985 with a Masters in Tax. I was trained in income tax and expected to have a career in public accounting, but I only lasted a few years in a couple of different large CPA firms. I then went to the BellSouth Corporation tax department and had various roles. What inspired you to start this business?

income tax

Cherry Bekaert

MAY 3, 2024

What Is Global Tax Minimization? Global tax minimization is the process that companies follow to fully comply with the tax law in each country in which they operate in such a manner that their worldwide income tax liability is reduced to the lowest possible amount. income tax return.

Tax

ThomsonReuters

DECEMBER 29, 2022

Companies are facing an ever-increasing burden of corporate tax compliance and the pace of complexities shows no sign of slowing. Helping companies ensure compliance by outsourcing for business processes represents a growth opportunity for today’s tax and accounting firms. . “ Find the right corporate tax solution.

corporation tax

Ronika Khanna CPA,CA

MAY 5, 2024

The video below takes you through the process of how to enter shareholder loans for specific situations How to record corporate tax expense, payments and interest/penalties: If your business is profitable, you usually have to pay corporate taxes at the end of the year.

income tax

ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. Whether it’s advising on residential energy tax credits or restructuring a partnership, your knowledge and expertise beyond the tax return are valuable.

Tax

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

OCTOBER 1, 2021

As the effects of the pandemic continue to reverberate through the economy, resource-constrained corporate tax departments are unceasingly adapting to change — including new regulatory requirements, new ways of working, extended tax deadlines, Covid tax relief provisions and, now, the demands of a busy tax-filing season.

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

tax return

Ronika Khanna CPA,CA

JUNE 7, 2024

If you are registered in Quebec, you are also required to file QST Returns. Sales tax returns reflect the amounts charged on products and services, which are collected on behalf of the government. The administration and tax filings is significantly less onerous than for payroll, however, there are other drawbacks.

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.

business tax