CPA Practice

JULY 22, 2025

Jason Bramwell Accounting practice management platform Canopy on July 22 launched Smart Intake, a native solution that automates client intake and tax workflow with AI-powered questionnaires, featuring intelligent prefill, document checklists, and real-time customer relationship management data sync.

Technology 59

Technology payroll payroll tax audit 59

CPA Practice

DECEMBER 3, 2024

27)—A tax preparer who admitted to filing more than $3 million in fraudulent tax returns on behalf of her clients is facing up to 30 years in prison for her crime. As a result, the UA’s return claimed a fraudulent federal income tax refund of $12,359. (TNS) ATHENS, GA (Nov. District Judge Tilman E. Tripp” Self III.

tax preparation 97

tax preparation Georgia tax return Tax 97

Anders CPA

DECEMBER 24, 2024

You can reference this economic nexus by state chart for the most up-to-date information regarding economic nexus thresholds for sales and use tax. Economic nexus for income tax purposes is limited by P.L. Each state has its requirements for what creates nexus. This is called having an economic presence.

South Dakota 52

South Dakota income tax Missouri Sales 52

Withum

JANUARY 21, 2025

With this change, plan sponsors no longer need to collect documentation or require participants to provide specific information on the need for a hardship withdrawal. Participants will be asked to certify that they will preserve their documentation of the hardship and provide such documentation later if requested.

income tax 52

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CPA Practice

NOVEMBER 16, 2024

Reporting and documenting QCDs For 2024, QCDs should be reported on the 2024 tax return. in early 2025 documenting IRA distributions. Individual Income Tax Return , or Form 1040-SR, U.S. Tax Return for Seniors. For that reason, the annual QCD limit will rise to $108,000 in 2025.

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tax return income tax Tax 114

Accounting Insight

MAY 6, 2025

New products TaxCalc (Stand 450) are launching their MTD Quarterly Filer, a new bridging tool for Making Tax Digital for Income Tax. These fully integrated cloud solutions are designed to revolutionise the way accounting and tax professionals manage their workflows, ensuring efficiency, accuracy, and compliance.

Accounts Payable Automation 52

Accounts Payable Automation accounts payable accounting and finance income tax 52

Dent Moses

JUNE 25, 2025

On March 20, 2025, the IRS issued new FAQ’s as guidance to businesses understand how to properly report Employee Retention Credit (ERC) refunds on their income tax returns. This is especially important for companies that received ERC refunds but never amended their earlier tax returns, or for those whose claims were later denied.

tax return 52

tax return income tax payroll Tax 52

Accounting Insight

JUNE 6, 2025

With MTD for Income Tax, the UK government’s initiative to digitalise the tax system—approaching its next significant phase, this stark contrast serves as both an urgent signal and a compelling invitation to accounting professionals across Britain.

Tax 66

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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. Bui anticipated that the transactions would be audited.

Tax 85

Tax tax preparation audit Technology 85

CTP

APRIL 21, 2025

Non-Profit NIL Collectives: Gunning for That Tax Exemption For new NIL collectives, qualifying as a nonprofit sounds like a best-case scenario. The organization would be exempt from income tax, meaning that all earnings could go toward the team.

Tax 52

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Accounting Today

JUNE 20, 2025

The current list of eligible localities is on the IRS Tax Relief in Disaster Situations page.) 3 deadline for both states applies to individual income tax returns and payments normally due on April 15, 2025. For individual taxpayers, this means Oct.

Mississippi 94

Mississippi Texas Tax Technology 94

Withum

FEBRUARY 27, 2025

IRS-CI is the law enforcement arm of the IRS tasked with investigating violations of income tax, money laundering, and Bank Secrecy Act laws. Its the only federal agency that dedicates 100% of investigative time to financial investigations and has sole authority to investigate violations of US income tax laws.

income tax 76

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MyIRSRelief

OCTOBER 11, 2024

Here’s a detailed look at what personal tax preparation entails: Gathering Financial Information: The first step in personal tax preparation is gathering all necessary financial documents. This includes W-2 forms, 1099 forms, receipts for deductible expenses, and records of any other income or expenses.

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Ronika Khanna CPA,CA

JULY 8, 2025

If CRA sees that the relationship is actually one of employment, they can reclassify the income as salary, requiring the payer to remit unpaid payroll deductions (including CPP and income tax) plus penalties and interest. You pay income tax on it at your personal marginal rate. You don’t pay CPP on dividend income.

income tax 52

income tax tax return payroll Tax 52

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 59

Technology audit E-commerce tax preparation 59

Reckon

FEBRUARY 20, 2025

However, the new reporting scheme has left some NFPs uncertain of their status or tax obligations. Announced in 2021, the Australian government imposed the new self-reporting requirements to ensure that only eligible NFPs can access income tax exemption. This is a drastic change from how tax exemption was calculated for NFPs.

Non-Profits 52

Non-Profits income tax Tax Government 52

Nancy McClelland, LLC

JANUARY 12, 2025

” During the pandemic, we began requiring all clients to submit a copy of their IRS Account Transcript along with their Tax Organizer and other annual tax prep documentation. Initially, this was to confirm the amounts of stimulus payments and child tax credit payments. Please do not ever email sensitive documents.

Tax 52

Tax tax return accounted Account 52

CPA Practice

JUNE 17, 2025

35K, Partner $25K for Multiple Audit Failures The Utah-based firm and its founder/partner Kristofer Heaton were fined on June 12 for audit documentation, engagement quality review, and quality control failures involving five audits. Jason Bramwell Auditing June 13, 2025  PCAOB Docks Heaton & Co.

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inDinero Tax Tips

JANUARY 1, 2025

Just as an employee receiving stock as compensation would expect to sign a document, you should too. Many of these costs can be deducted or depreciated, which can reduce tax liability, but doing so requires careful accounting and reporting. Create process documents for training.

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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 59

Tax tax preparation North Carolina tax return 59

Accounting Today

JULY 24, 2025

Sole owner of Zion Outfitter, an outdoor retailer in Springdale, Utah, he handled the company finances and provided CPAs with information and records to prepare tax forms to submit to the IRS. He underreported his taxable personal income, which resulted in his evading at least $1.9 million in income tax.

Tax 59

Tax tax preparation Real Estate tax return 59

CPA Practice

JULY 14, 2025

One tool that handles everything from source document gathering all the way to tax return assembly/delivery—and automates manual tasks like intake, signatures, and deadline reminders—makes your firm a more attractive employer, too.

West Virginia 51

West Virginia Technology Pennsylvania accounting and finance 51

Withum

DECEMBER 11, 2024

For tax year 2023 and beyond, the maximum election amount has increased from $250,000 to $500,000, where up to $500,000 in credits per quarter is applied against employer-paid FICA (6.2%) and Medicare (1.45%) taxes.

E-commerce 52

E-commerce Tax payroll tax income tax 52

CTP

JANUARY 17, 2025

If a clients tax refund seems unusually high, the IRS may initiate an audit to request supporting documentationagain, this is true if even the refund is valid. The taxpayers Schedule C reports over $250,000 in gross receipts or under $30,000 in net income. Tax returns in these categories have more than a 4% chance of getting audited.

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audit Tax auditor tax return 96

Anders CPA

FEBRUARY 28, 2025

Workflow Process for Case Management Your workflow should pair case milestones with actions taken, documents needed and the timeline for when theyll be finished. And it is incumbent upon the firm to distribute income tax money out to the partners to pay their estimated taxes, which should be about 40% of your forecasted net income.

Non-Profits 59

Non-Profits Legal financial statements Manufacturing 59

Accounting Insight

MAY 2, 2025

Theres hardly time to stay on top of each clients basic needs yet alone advising them on their tax affairs. This is now made possible through Intelligent Automation, giving accountants the ability to automate the personal tax return process; from collating documents, to submitting to HMRC. Time and cost savings.

Technology 59

Technology accounting firms Tax tax return 59

Withum

FEBRUARY 27, 2025

The DOR is placing emphasis on providing the necessary documentation to substantiate the claim for a refund to avoid misinterpretation between the department and the taxpayer. The team is focusing on sales tax cases, as those are the largest revenue generator for the DOR.

Florida 52

Florida income tax audit Real Estate 52

CPA Practice

JULY 24, 2025

Purpose-built for accounts receivable, AI agents instantly recognize key tasks and bring all relevant data and documents to inform their response.

Technology 45

Technology Account accountant accounted 45

ThomsonReuters

NOVEMBER 1, 2024

Continuous tax law changes: Legislative changes are accelerating, influenced by economic and market conditions like inflation and global pandemics. The government aims to boost tax revenues to lessen reliance on income tax. Pagero Keep up with changing e-invoicing, e-document and tax regulations in your markets.

Tax 52

Tax Technology audit income tax 52

Accounting Insight

JANUARY 16, 2025

Accurate record-keeping You can track and categorise your income and expenses easily, allowing you to keep accurate financial records throughout the year and be less likely to make mistakes. It calculates an estimate of your income tax and national insurance based on your submitted transactions.

tax return 52

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FraudFiles

APRIL 14, 2025

Tax returns can be one of the most important pieces of information a forensic accountant evaluates in a divorce case. Of course, there are other very important financial documents, but income tax returns provide summary information about of lot of financial issues, including income, expenses, and assets.

tax return 52

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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)? How can you prepare for MTD for Income Tax? What do you need to do to be MTD compliant?

Tax 40

Tax income tax tax return Technology 40

CPA Practice

MAY 21, 2025

Filed automates the complete lifecycle of a tax returnfrom structuring diverse client documents to validating returns and proactively flagging anomalies based on firm-defined rules.

Technology 71

Technology tax preparation Tax income tax 71

CPA Practice

JULY 22, 2025

Launching later this year to enable firms before the tax season rush, SmartRequestAI uses proprietary AI technology to automate and streamline one of the most time-consuming parts of tax prep.

Technology 40

Technology Tax income tax 40

Accounting Today

JULY 11, 2025

The Abacus platform, which just went through its first tax season, automates data collection by pulling from client documents, past returns and standard forms—without a 7216 consent form required—and classifies, reconciles and pushes data directly into CPA workflows for review and filing. Abacus announces $6.6

Technology 64

Technology audit E-commerce tax preparation 64

Accounting Today

JULY 11, 2025

It shows up on the monthly statement but hasnt been coded, posted or documented. Unlike line managers, auditors know what to look for, have experience spotting patterns of misuse and work with clear documentation of the companys expense policy. This creates a black hole in reconciliation. By Michael Cohn July 10 Like what you see?

Technology 45

Technology audit auditor Expense Management 45

ThomsonReuters

JUNE 27, 2025

Key provisions include the permanent extension of select elements from the Tax Cuts and Jobs Act (TCJA), as well as the implementation of campaign promises from the Trump Administration, most notably, proposals to eliminate federal income tax on overtime pay and employee tips.

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