MyIRSRelief

SEPTEMBER 1, 2023

Life has a way of throwing us unexpected challenges, and for many individuals and businesses, tax problems are among the most daunting. Contact us for professional tax help today! Section 1: The Weight of Tax Troubles The Burden of Tax Audits Facing a tax audit can be like walking on a tightrope without a safety net.

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MyIRSRelief

JULY 3, 2023

ERC IRS Audit Representation: Your Comprehensive FAQ Guide The Employee Retention Credit (ERC) has been a lifeline for many businesses during challenging times, providing substantial relief. Contact us for professional tax help today! What Skills Should I Look for in a Tax Professional for ERC Audit Representation?

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MyIRSRelief

JUNE 23, 2023

Tax matters can be complex and daunting, and navigating the ever-changing tax landscape can be a challenge. In such a scenario, having a qualified tax professional on your side is invaluable. The Enrolled Agent (EA) – a tax specialist authorized by the U.S. Contact us for professional tax help today!

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MyIRSRelief

AUGUST 14, 2023

Dealing with tax-related issues can be overwhelming, and one such issue is an IRS wage garnishment. An IRS wage garnishment, also known as a wage levy or wage attachment, is a legal action taken by the Internal Revenue Service (IRS) to collect unpaid taxes. What is an IRS wage garnishment?

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tax return Tax Legal audit 130

MyIRSRelief

AUGUST 14, 2023

Dealing with tax-related issues can be overwhelming, and one such issue is an IRS wage garnishment. An IRS wage garnishment, also known as a wage levy or wage attachment, is a legal action taken by the Internal Revenue Service (IRS) to collect unpaid taxes. What is an IRS wage garnishment?

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tax return Tax Legal audit 130

ThomsonReuters

JANUARY 27, 2022

Federal Independent Dispute Resolution (IDR) Process Guidance for Certified IDR Entities (Dec. This guide includes detailed information on how the parties may initiate the IDR process and describes the requirements of the process, including specifics on the rules that certified IDR entities must follow in making a payment determination.

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ThomsonReuters

APRIL 21, 2022

Federal Independent Dispute Resolution (IDR) Process Guidance for Disputing Parties (Apr. 2022); Federal Independent Dispute Resolution (IDR) Process Guidance for Certified IDR Entities (Apr. Disputing Parties Process Guide. IDRE Process Guide. Contributing Editors: EBIA Staff.

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CPA Practice

APRIL 10, 2024

This webinar will be held on Thursday, May 16, 2024 Sponsor: SafeSend Duration: 1 Hour Register Now With many technological and AI-powered advances coming to the tax and accounting profession, firms are looking to provide the best service for their clients, all while staying up to date, saving time, and cutting costs.

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CPA Practice

OCTOBER 16, 2023

Accountants are crucial for guiding clients through the various financial and administrative aspects of running a business. Nonprofit Organizations : Nonprofits are typically required to keep meeting minutes, especially if they want to maintain their tax-exempt status. By Nellie Akalp. How Often are Meeting Minutes Needed?

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CPA Practice

OCTOBER 18, 2023

Accountants are crucial for guiding clients through the various financial and administrative aspects of running a business. Nonprofit Organizations : Nonprofits are typically required to keep meeting minutes, especially if they want to maintain their tax-exempt status. By Nellie Akalp. How Often are Meeting Minutes Needed?

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CPA Practice

MARCH 15, 2024

Some promoter groups may have called the credit by another name, such as a grant, business stimulus payment, government relief or other names, so even if the terms Employee Retention Credit and Employee Retention Tax Credit don’t sound familiar, businesses should still review their records. No interest or penalties will apply.

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MyIRSRelief

JUNE 16, 2023

Welcome to our comprehensive FAQ guide on the IRS Fresh Start Program ! Dealing with tax issues can be overwhelming, but the Fresh Start Program is designed to provide taxpayers with a second chance. It aims to provide relief to individuals and small businesses by offering them manageable payment plans and tax debt resolution options.

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CPA Practice

MAY 3, 2024

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday? By Gail Cole.

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MyIRSRelief

NOVEMBER 28, 2022

Is quite simple, they are tasked with collecting all of the income taxes assessed by the state of California. The FTB or Franchise Tax Board was created to replace the office of the Franchise Tax Commissioner that was abolished in 1950. Get FTB help, call our Los Angeles based tax firm today at 1-877-78-TAXES [1-877-788-2937].

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MyIRSRelief

SEPTEMBER 15, 2023

An IRS bank levy is a legal action taken by the Internal Revenue Service (IRS) to collect unpaid taxes. When the IRS levies your bank account, they freeze the funds in it and eventually withdraw the amount owed to satisfy your tax debt. Contact us for professional tax help today! Why would the IRS levy my bank account?

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tax return Tax Legal audit 130

MyIRSRelief

AUGUST 1, 2023

However, with the increasing complexity of tax regulations, many of these companies find themselves struggling to maintain tax compliance. Contact us for professional tax help today! However, managing payroll taxes for these two distinct driver categories can be a daunting task for trucking companies.

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payroll tax Tax payroll audit 130

ThomsonReuters

AUGUST 11, 2022

A federal trial court has again vacated key portions of the interim final regulations implementing the independent dispute resolution (IDR) provisions of the No Surprises Act—this time relating to air ambulance services. EBIA Comment: Presumably, the agencies will again revise the IDR process guides to reflect this decision.

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ThomsonReuters

JANUARY 4, 2024

But where do you begin building your tax planning strategy? Let’s take a look at a three-part new year’s resolution that is sure to tackle common challenges, strengthen client relationships, and ensure longevity and success for your firm now and in the years ahead. Partial outsourcing is also an option.

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tax planning Tax Technology tax return 78

CPA Practice

JUNE 28, 2023

By now, most tax preparers are aware they need to comply with the FTC Safeguards Rule and IRS Publication 4557. And what if you don’t provide tax? The FTC provides an exemption for non-tax firms that have less than 5000 “targets” in their combined data stores and software. By Chris Farrell, CPA.

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CPA Practice

FEBRUARY 7, 2024

Each new year can bring resolutions of change and reflections on past experiences, even for businesses. It’s also when millions of taxpayers and tax professionals get ready to start the annual tax reporting season. Related : How Did Your 1099 Tax Season Go? New E-Filing Rules Challenged Some in 2024.

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Accounting Insight

JANUARY 5, 2024

Despite how common VAT is, the tax is difficult at the best of times to understand. Knowing who pays VAT – the buyer or the seller – is straightforward, though, if you take the time to learn about the tax or have help. For questions around the EU VAT eCommerce package read this comprehensive guide. What’s GST?

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ThomsonReuters

MAY 19, 2022

At the request of the IRS, DOL, and HHS, the Fifth Circuit has put a hold on the agencies’ appeal of the trial court case vacating key portions of the interim final regulations implementing the independent dispute resolution (IDR) provisions of the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA).

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Going Concern

JULY 6, 2023

When PwC Australia CEO Tom Seymour stepped down in May after it was confirmed he’d received tainted emails containing confidential government tax intel leaked by former partner Peter Collins, it seems the firm hoped sacrificing him was enough to settle the matter and move on. ” Wayne Plummer – Corporate Tax at PwC.

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ThomsonReuters

MAY 20, 2021

The National Institute of Standards and Technology (NIST) has issued a call for public comments in conjunction with its plan to update “ An Introductory Resource Guide for Implementing the Health Insurance Portability and Accountability Act (HIPAA) Security Rule ” (Resource Guide). Specifically, NIST seeks input regarding—.

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ThomsonReuters

JUNE 9, 2022

Federal Independent Dispute Resolution Process, Checklist of requirements for group health plans and group and individual health insurance issuers (June 3, 2022). Keep in mind that the agencies have recently revised their IDR process guides, and the HHS IDR portal is “live” (see our Checkpoint article ). Available at [link].

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Menzies

DECEMBER 11, 2023

However, transformation comes at a significant cost and feasibility will need to be investigated with consideration of both available tax reliefs and timing of investments. What tax reliefs are available for Warehouse of the future projects?

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Technology Transportation chartered accountant Tax 52

ThomsonReuters

AUGUST 25, 2022

The DOL, HHS, and IRS have finalized portions of the surprise medical billing regulations covering the independent dispute resolution (IDR) process. HHS’s IDR process guide for certified IDR entities has been updated to reflect the changes required by the court cases. Regulations. Fact Sheet. Contributing Editors: EBIA Staff.

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Going Concern

JUNE 2, 2023

ChatGPT Offers CPAs ‘Superpowers’ Deloitte’s Ucuzoglu Says [ Bloomberg Tax ] “The use cases are breathtaking: They will fundamentally alter the profession,” said Deloitte Global CEO Joe Ucuzoglu, addressing a University of Southern California financial reporting conference on Thursday. “And The roughly A$290 billion ($196.71

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Menzies

JUNE 19, 2023

In the UK we have a tax code that recognises that taxpayers will make mistakes in their tax affairs and shouldn’t be penalised either financially or reputationally if the mistake was made with honest intentions. The Charter has been amended over time but there are currently seven guiding principles which HMRC aim to follow.

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Ryan Lazanis

AUGUST 22, 2022

Tasks with deadlines, like tax preparation, need to be logged and then assigned to team members so that you can all collaborate together. With accounting firms & tax professionals having hundreds and even thousands of tasks across the business, you’ll need more than Quickbooks Online or Xero. kinda like your tax software).

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Going Concern

APRIL 15, 2024

Bloomberg Tax says the proposal has drawn “blunt feedback” which is a polite way of saying people think it’s stupid. Their policies at home rapidly slashed corporate taxes and regulations. Hey and welcome to Monday, APRIL 15! You made it! Well, almost. We’re so proud of you. Now, some news.

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audit Account accountant accounted 62

Going Concern

OCTOBER 2, 2023

O’Neill also said the “full shape” of PwC’s alleged wrongdoings would not be known until separate investigations by the Australian federal police and the Tax Practitioner’s Board are finalised and two Senate inquiries finish their reports. There’s nothing wrong with doing that but let’s not pretend it’s anything more than that,” O’Neill said.

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ThomsonReuters

JANUARY 18, 2024

Accountant vs. CPA vs. tax preparer: What are the differences? Preparing tax returns. According to Pilar Garcia, CPA , Tax and Accounting Executive Editor for Thomson Reuters, “AI, especially generative AI, can propel the accounting profession forward like no other technological advancement since Excel.

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LyfeAccounting

JUNE 2, 2021

Want to Know How to File an Amended Tax Return? As an accounting firm, we’ve filed our fair share of amended tax returns. In today’s post, we’ll be going over when to amend your taxes and the 5 steps to actually amend your taxes. When to Amend Your Taxes? Steps to Take When Filing Amended Tax Return.

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tax return Tax accounting and finance tax preparation 52

Ryan Lazanis

SEPTEMBER 29, 2023

Collaboration One of the more prominent features of Canopy that any accounting and tax professional will appreciate is its collaboration features. Whether you’re working tax professional’s office or at home, it allows you to facilitate tasks such as uploading documents, scanning files, and transferring data to new file structures.

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accounting software Account accountant accounted 52

Ryan Lazanis

AUGUST 2, 2023

Here are some examples: Smith Bookkeeping Solutions Brown Financial Consulting Jordan and Johnson Accounting & Tax Services Patel & Associates Certified Public Accountants Etc. Pulchritudinous Accounting Solutions Sempiternal Chronovex Advisors Wyldfyre Bookkeeping Savants Novus Futureal Tax Experts Etc.

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accounting firms Account accountant accounted 52

xendoo

JANUARY 26, 2023

As a business owner, you probably know that you should file taxes on time. However, if you’ve fallen behind on taxes, you’re not alone. Over 33% of Americans procrastinate doing taxes until the last minute. Reasons for procrastinating taxes vary. What happens if a business doesn’t file taxes by the due date?

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