Accounting Today

AUGUST 4, 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. Quarterly estimated income tax payments normally due on Sept. Quarterly payroll and excise tax returns normally due on July 31 and Oct.

New Mexico

CPA Practice

JULY 7, 2025

Rosen is a member of the AICPA Tax Section and is a past member of the AICPA Trust, Estate and Gift Technical Resource Panel and Tax Reform Resource Task Force and has more than 43 years of experience in public accounting, speaks locally and nationally on tax planning and related issues and has published more than 100 articles.

cpas

Withum

DECEMBER 4, 2024

Section 179 expensing, unlike bonus depreciation, can give rise to state income tax benefits. Cost segregation is recognized as an engineering-based tax study accepted by the IRS. years) to a shorter depreciable tax life (e.g., For-profit entities can apply clean energy credits against their federal income tax due.

Tax

CTP

JANUARY 17, 2025

We will especially want to have this conversation if our clients tax return features one of the IRS red flags of the season. Below are key talking points we will want to review with clients to reassure them that we are prepared to walk them through an audit and to remind them of why working with a tax planner pays off in the end.

audit

CTP

APRIL 21, 2025

For those who are either interested in starting an NIL collective or have launched one but are still figuring out how to run it effectively, a strategic but often-overlooked next step is to develop a tax plan. The organization would be exempt from income tax, meaning that all earnings could go toward the team.

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 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. All rights reserved.

Tax

Accounting Insight

MAY 2, 2025

Its no secret that accountants are stretched during tax return season. Theres hardly time to stay on top of each clients basic needs yet alone advising them on their tax affairs. What is personal tax automation? In other words, your very own personal tax assistant is working 24-7 on your client portfolio.

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

Tax

CPA Practice

JULY 14, 2025

His areas of tax expertise include partnerships, including allocations, tax planning and structuring. Morris brings over a decade of experience advising on domestic and cross-border tax issues involving mergers and acquisitions, divestitures, recapitalizations, debt and equity financings, and internal restructurings.

West Virginia

Withum

DECEMBER 11, 2024

Payroll tax offset: Beginning in 2016, qualified small businesses (defined as those with less than $5 million in gross receipts and those in their first 5 years of existence) can elect to use the R&D tax credit to offset their quarterly payroll taxes, which can provide a significant cash flow benefit.

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 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)? The change will affect those with over 50,000 in income per year in 2026, moving to 30,000 in 2027.

Tax

Going Concern

JULY 10, 2025

TAX CANDIDATES FTE Tax and Advisory | Candidate ID #24421361 Certifications: CPA Education: BBA Accounting Experience (years): 30 years accounting experience Work experience (detail): 10+ in public accounting Manages a book of clients, tax prep, sign off, advisory Leads client tax planning and transaction advisory Researches and presents tax savings (..)

Real Estate

Withum

DECEMBER 17, 2024

It is important to note the TCJA sunsetting will not eliminate the 21% corporate tax rate. As an example, owners of S Corporations and Partnerships currently have the potential to pay taxes up to a 37% federal income tax rate.

Tax

CPA Practice

JUNE 26, 2025

The company also uses Avalara’s tax code database and AI tools to classify product SKUs and apply exemptions efficiently within Shopify. By reducing manual intervention and automating sales tax returns, the tax team saved significant time and reduced errors across filings in more than 50 U.S. jurisdictions.

Technology

CPA Practice

JUNE 18, 2025

Removed from Senate Bill: Restriction on regulation of contingency fees with respect to tax returns. The Child Tax Credit is also included and reflects a permanent increase to $2,200. Restoration of the limitation of “downward attribution” of stock ownership under section 958(b). Log In Need more information?

Tax

CPA Practice

JULY 30, 2025

Of course, gig workers still need to keep track of their income because they’re required to file a tax return with the IRS if they have net earnings of $400 or more from gig work.

Technology

Accounting Today

JUNE 9, 2025

You go to the beauty portal, you go to the barbershop, they have more protection than a person who prepares tax returns. So it is safe to say that 70% of the people who prepare tax returns are not credentialed. All rights reserved. Now, every month, the IRS comes out with a list on information on active pns.

Washington

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

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

CPA Practice

AUGUST 7, 2025

Expand Electronic Federal Tax Payment System (EFTPS) capabilities, which would enable business accounts to submit payments on behalf of individuals for Form 1040 and 1040-NR, including estimated tax payments, extension payments and balances due. 3975 , the Tax Fairness for Disaster Victims Act , introduced by Kennedy.

audit

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

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

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.

Account

CPA Practice

JULY 25, 2025

Accounting July 25, 2025  San Francisco-Area Accountant Faces More Federal Charges Michael Gilbert, who was charged with filing false tax returns in February, was indicted this week on charges of mail fraud and money laundering in an alleged scheme that deceived clients.

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 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

Going Concern

APRIL 11, 2025

News Tax firm owned by Anne Arundel lawyer found liable in unjust enrichment case [ Maryland Daily Record ] An accounting firm owned by Glen Frost, the founder of one of Anne Arundel Countys largest law firms, was found liable for unjust enrichment and ordered to pay more than $680,000 after a jury trial last month.

audit

CPA Practice

JULY 15, 2025

Many people assume that the maximum 529 plan contribution is $19,000 per child in 2025—or $38,000 if you file jointly—but that’s the maximum amount you can contribute without exceeding the annual gift tax limit. (If Here’s what else you should know about using a 529 plan to save for your kids’ education.

Technology

Withum

DECEMBER 4, 2024

Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2024 that are phased out over varying levels of adjusted gross income (AGI). Consider relocating your residency and domicile for the purpose of reducing or eliminating your state income tax.

tax planning

CPA Practice

JULY 14, 2025

According to court documents, Festus Adenisimi, of Mansfield, Texas, was the owner of FA Tax, a tax preparation business located in Grand Prairie, where he and other tax preparers prepared fraudulent tax returns for their clients, often causing the IRS to issue refunds to those clients. in restitution.

tax preparation

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

CPA Practice

AUGUST 1, 2025

Long is committed to modernizing the IRS and providing a taxpayer experience that meets today’s expectations, which includes giving taxpayers transparency into the status of their tax returns and audits,” the statement said. What is Direct File?

Technology

CPA Practice

JUNE 23, 2025

Jason Bramwell Taxes June 23, 2025  IRS Refines Pre-Filing Agreement Tax Certainty Program Improvements made to the IRS Pre-Filing Agreement program will provide greater tax certainty for large business and international taxpayers, the agency announced on June 17.

Missouri

MyIRSRelief

DECEMBER 15, 2023

Top 10 Tax Planning Concepts for W-2 Earners As a W-2 earner, understanding tax planning concepts can help you maximize your tax savings and ensure you’re making the most of your income. Here are the top ten tax planning concepts you should know.

tax planning

CTP

DECEMBER 8, 2022

Given its surging popularity and lesser-known tax rules, we will focus this article on short-term rentals. Again, sites like Airbnb and the evolution of the gig economy are presenting opportunities for income and tax planning that were not available before. Lastly, depreciation can be a major tax planning tool.

Real Estate