Articles
- DOL to Conduct Audit Quality Assessment of 2020 Plan Year Filings
The DOL Employee Benefit Security Administration (EBSA) Office of the Chief Accountant (OCA) is planning to conduct a study to assess the quality of audit work performed by independent qualified public accountants (IQPAs) with respect to... read more
- Treasury, IRS Issue Guidance For 2021 On Reporting Qualified Sick And Family Leave Wages
WASHINGTON – The Treasury Department and the Internal Revenue Service today issued Notice 2021-53 , which provides guidance to employers about reporting on Form W-2 the amount of qualified sick and family leave wages paid to employees... read more
- Interest Rates Remain The Same For The Fourth Quarter Of 2021
WASHINGTON – The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Oct. 1, 2021. The rates will be: 3% for overpayments [2% in the case of a corporation]; 0.5 % for the... read more
- The 10 Biggest Myths (Missed Opportunities) With the Employee Retention Credit
The Employee Retention Credit (ERC) IS HUGE! In March 2021, this credit was extended through December 31, 2021 AND EXPANDED, as part of the American Rescue Plan Act of 2021 (ARPA). But, let’s face it...many of us CPAs, the highly trusted,... read more
- 2021 AICPA MAP Survey Now Open
What story does your firm’s numbers say? Participate in the 2021 AICPA PCPS/CPA.com National Management of an Accounting Practice Survey for insights. Numbers mean a lot. Especially for us as professionals who are constantly dealing with... read more
- Help spread the word! Encourage clients to obtain IP PINs from IRS to protect against tax-related identity theft
Internal Revenue Service Security Summit partners today called on tax professionals to increase efforts to inform clients about the Identity Protection PIN Opt-In Program that can protect against tax-related identity theft. Sharing information... read more
- NFTs Bring New Challenges
While 2021 has seen Bitcoin and other cryptocurrencies rise in notoriety and value, we cannot overlook the increased popularity of NFTs—non-fungible tokens. Recently digital designer Mark Winkelman (aka Beeple) sold his digital collage NFT... read more
- IRS Improves Services To Taxpayers With Digital Authorizations And Launch Of New Tax Pro Account
IR-2021-154, July 19, 2021 WASHINGTON – The Internal Revenue Service today launched a new feature that will give taxpayers digital control over who can represent them or view their tax records, a groundbreaking step in the agency’s... read more
- IRS Security Summit Announces Summer Campaign To Raise Awareness Among Tax Pros About Identity Theft; Urges Practitioners To Boost Security Immunity
WASHINGTON – Continuing an effort to battle tax-related identity theft, the IRS, state tax agencies and the tax industry announced today that the annual campaign to raise awareness among tax professionals about data security will begin next... read more
- July Ushers In Georgia Income Tax Cut, New Business Incentives
by Nyamekye Daniel (The Center Square) – New laws that will cut income taxes for Georgians and increase tax incentives for businesses go into effect Thursday with the start of a new fiscal year. Dubbed the Tax Relief Act of 2021, House... read more