CPA Practice

FEBRUARY 3, 2023

(TNS) A Columbus, GA-based tax preparer has pleaded guilty in federal court to charges that she submitted false claims for tax credits for her clients and also failed to pay her own personal taxes. She also failed to file her own tax returns during that time period. Sentencing is scheduled for June 13.

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CPA Practice

MAY 17, 2023

The IRS is planning to roll out its own free online tax-filing system in a move that could put the agency in direct competition with online tax preparation behemoths like Turbo Tax and H&R Block. A free, government-run, online tax-filing system for taxpayers has been talked about as a possibility for many years.

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MyIRSRelief

OCTOBER 3, 2022

Taxes can be broken down into three categories: what you purchase, what you own, and what you earn. They contribute to resources such as our government, educational systems, law enforcement, libraries, and others. However, individuals who fail to pay taxes can suffer penalties and potential criminal charges.

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CPA Practice

JANUARY 29, 2024

It’s back to regular IRS deadlines this year, but with a new tool for many low- and moderate-income households: a service that will prepare and file their tax returns online for free. If you’re entitled to a refund, tax experts say, you should file your return as soon as possible.

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Nancy McClelland, LLC

FEBRUARY 24, 2024

The past four years have been challenging in so many ways, to so many people — but as a tax preparer, I can confidently say that the inability for the IRS to provide its usual level of customer service has been among the most impactful. And NerdWallet recently published a list of free and tax preparation resources.

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CPA Practice

FEBRUARY 6, 2023

By Samantha Gowen, Los Angeles Daily News (TNS) Tax filers in California who got a Middle Class Tax Refund and a corresponding 1099 form should wait to file their federal tax returns, the IRS said last Friday. The IRS, now two weeks into tax season, issued a statement Feb. Visit dailynews.com.

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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. I would not want to be too dependent on it,” said one corporate tax director.

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Nancy McClelland, LLC

MARCH 7, 2023

(c) Nataliya Vaitkevich The past three years have been challenging in so many ways, to so many people — but as a tax preparer, I can confidently say that the inability for the IRS to provide its usual level of customer service has been among the most impactful.

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CPA Practice

APRIL 11, 2024

By Jean Ross, InsideSources.com (TNS) If there’s one thing we should be able to agree upon, it’s that everyone should pay the taxes they owe without having to pay for the privilege of doing so. This year, for the first time, residents of 12 states who file simple tax returns can file online for free using the IRS’s new Direct File portal.

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CPA Practice

APRIL 1, 2024

While individuals of any background face the risk of being targeted by the predatory tax filing industry, Latinos may fall victim to unqualified service providers who prey on our community. tax system is not just a matter of modernizing government systems—it’s a matter of justice. Improving the U.S.

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CPA Practice

AUGUST 11, 2023

The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. The multi-millions came from filings of over 1,000 false tax forms claiming the pandemic-related employee retention credit, also referred to as the ERTC or ERC. Treasury Department.

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Nancy McClelland, LLC

APRIL 9, 2024

For years, we have stressed the importance to our clients of making quarterly estimated tax payments. And unlike many tax preparers, we also do bookkeeping, accounting, and consulting for our small business owners — so we’ve also encouraged them to have us do a quarter-by-quarter calculation of how much to pay.

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MyIRSRelief

FEBRUARY 1, 2023

An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance with the tax laws. Tax lawyers must complete a law degree and pass a bar exam in order to practice law.

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PYMNTS

APRIL 5, 2020

Online tax preparation service TurboTax has announced that it is rolling out a free, stimulus registration solution to assist people who are not required to file a tax return. who are not required to file taxes, and some 80 percent are eligible for a stimulus check. There are roughly 10 million people in the U.S.

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Nancy McClelland, LLC

JANUARY 30, 2024

Tax preparers everywhere spent the past two months gearing up for yesterday’s “opening day” of tax season, January 29th. It was an exciting time for us, as it was finally going to be a return to normal. The opinions shared here are the author’s and not those of AICPA or CPA.com.)

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ThomsonReuters

JANUARY 18, 2024

Accountant vs. CPA vs. tax preparer: What are the differences? Preparing tax returns. Accountant vs. CPA vs. tax preparer: What are the differences? Accounting professionals may find that some outside of the profession do not fully understand the differences between an accountant and a tax preparer.

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ThomsonReuters

OCTOBER 12, 2023

Paying taxes on money earned abroad Avoiding double taxation Helping clients who live abroad with their taxes U.S. income tax returns, just like individuals living in the United States. However, the tax obligations for expats can be different and more complex due to their international status. tax return.

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ThomsonReuters

NOVEMBER 15, 2023

It provides comprehensive information about the organization’s activities, governance, and finances, ensuring transparency and accountability. Book PPC’s 990 Deskbook provides detailed, easy-to-understand tax return guidance for Form 990 and its related forms. File the tax return.

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Withum

DECEMBER 22, 2023

Taxpayers also must disclose to the IRS identifying information and other details about any advisors or tax preparers who advised or assisted them with their ERC claims.

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CPA Practice

AUGUST 15, 2023

Jared Ballew, 2022-23 Chair of the ETAAC and Vice President of Government and Industry Relations at Taxwell; and Ann Campbell, CPA CIA and Drake Software Trainer will share an overview of the cyber threats that taxpayers and tax professionals face daily.

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inDinero Tax Tips

MARCH 2, 2023

That means you must disclose any cryptocurrency trading activity conducted over the past year on your tax return. The anonymous and decentralized nature of blockchains have led many to believe their crypto trades are hidden from the government. How Do Businesses Report Capital Gains Tax on Cryptocurrency?

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ThomsonReuters

OCTOBER 12, 2023

From understanding what foreign income is to navigating various tax forms and deductions, it is important for accountants to understand the ins and outs of U.S. federal income tax return ( Form 1040 ). tax return. tax return for foreign income taxes paid to a foreign government.

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ThomsonReuters

SEPTEMBER 7, 2023

Jump to: Child and dependent care credit FAQs What is kiddie tax? What is the adoption tax credit? Claiming children on taxes Choosing the best tax preparation software As all working parents know, the cost of child and dependent care can be a significant financial burden. What is the adoption tax credit?

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Going Concern

FEBRUARY 9, 2024

Australian authorities allege PwC is ‘deliberately hiding’ tax scandal report [ Financial Times ] Australian authorities alleged in a senate inquiry into a PwC tax scandal that the accountancy firm is “deliberately hiding” a report detailing how leaked government information was used outside the country.

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CPA Practice

MARCH 26, 2024

economy, they also say the government system lacked safeguards and fell prey to widespread theft. Millions of government funds rolled into his bank accounts. Moore asked Bailyn how much of the pandemic loan proceeds were returned by Lorquet. government seized his four luxury cars and various pieces of jewelry he bought.

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ThomsonReuters

NOVEMBER 15, 2023

Charitable contributions from IRAs How much of a donation is tax deductible? In addition to helping our communities, these donations can also lead to significant tax benefits. QCDs can reduce your AGI, which may positively affect other aspects of your tax return. How much of a donation is tax deductible?

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Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries?

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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?”. Life insurance premiums are not tax deductible unless the beneficiary is the business. Corporations are required to file a separate corporate tax return.

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Going Concern

OCTOBER 7, 2022

Accounting’s Big Lie — and How to Fix It [ Project on Government Oversight ] A colossal conflict of interest compromises the auditing of public companies and the financial security of everyone who depends on them. The Project On Government Oversight is planning a conference on what to do about it. Attorney Nick Brown.

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ThomsonReuters

SEPTEMBER 7, 2023

Are there any recent changes with child tax credit legislation? Which tax software can accountants use for calculating the child tax credit? The child tax credit is a tax benefit provided by the U.S. federal government to help families with the cost of raising children. citizen, U.S. national or U.S.

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Going Concern

SEPTEMBER 1, 2023

The professional and business service sector added 19,000 jobs, including 2,700 in accounting, tax preparation, bookkeeping and payroll services. However, the divestment of its government consulting business, which was responsible for roughly 20% of revenue, is likely to see revenue drop this fiscal year. billion ($2.21

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LyfeAccounting

MARCH 10, 2021

Audits are services where CPAs are required to audit your financial information in accordance with accounting and auditing standards set by the government. They know the rules of accounting and can act as a trusted advisor to help you plan for taxes, manage your finances, and overcome business challenges that you’ve never experienced before.

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Ronika Khanna CPA,CA

APRIL 14, 2022

Being a small business owner comes with challenges, not the least of which is doing your taxes. While most Canadian taxpayers have relatively simple tax returns that can easily be completed using software, small business owners have the additional burden of reporting details relating to their businesses.

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Cherry Bekaert

NOVEMBER 28, 2023

Many of the IRA energy tax credits and incentives are designed to be transferable to other taxpayers looking to buy federal tax credits or may be refunded in cash to governments or tax-exempt organizations that do not pay income tax. and foreign taxes should review their strategies annually.

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inDinero Tax Tips

MARCH 2, 2023

That means you must disclose any cryptocurrency trading activity conducted over the past year on your tax return. The anonymous and decentralized nature of blockchains have led many to believe their crypto trades are hidden from the government. How Do Businesses Report Capital Gains Tax on Cryptocurrency?

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LyfeAccounting

MAY 27, 2021

They have a question about your tax return. They changed your return. They need to notify you of delays in processing your return. Usually, when you receive an IRS letter, it is not going to be in reference to all of the tax returns you ever filed. You are due a larger or smaller refund.

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LyfeAccounting

APRIL 27, 2021

But in today’s post, we’ll actually be explaining why having a huge tax refund or any refund at all is not necessarily a good thing and the reasons might surprise you. What is a Tax Refund? Well, it’s not just free money from the government (though it might feel that way). Business Owner Tax Mistakes of Overpaying.

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