AICPA News
Employee retention credit guidance update and rising economic confidence - Journal of Accountancy podcast
On March 1, the IRS issued guidance on the employee retention credit. April Walker, CPA, CGMA, lead manager on the Tax Practice & Ethics team at the AICPA, explains the highlights of that guidance, including how the credit interacts with PPP loans. Also, Ken Witt, CPA, CGMA, senior manager for management accounting and member engagement at the AICPA, shares the important details of the latest AICPA Business & Industry Economic Outlook Survey.
journalofaccountancy.com
IRS News
Lawsuit Tax Hinges On Settlement Wording And IRS Form 1099
Settlement agreement wording is important. In IRS audits, the IRS may be satisfied with the settlement agreement, and may not go further, so word it carefully. Forms 1099 should be addressed explicitly, and any Form 1099 that is issued should not be ignored.
forbes.com
IRS Warning: FBAR Deadline For Offshore Accounts Is Still April 15
The IRS reminds U. S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is still April 15, 2021.
forbes.com
Conservation Appraisers Strike Back At IRS With Class Action Suit
Battered in Tax Court by the IRS, hounded by the Department of Justice seeking criminal charges and injunctions and beleaguered by class action attorneys SCE appraisers are fighting back with a class action lawsuit against the Internal Revenue Service and the Treasury
forbes.com
News
Tax report: Families dig up new tax breaks
The coronavirus-relief legislation signed by President Biden earlier this month contains unprecedented benefits for families with children and other dependents -- especially for some who plan carefully.
foxbusiness.com
Sobering IRS Warnings On Tax Crimes Before Filing Your Taxes
Are you comfortable signing your tax return under penalties of perjury? Willfully filing false tax returns or deliberately evading paying taxes are serious criminal offenses.
forbes.com
How To Beat Massive Estate & Income Tax Hikes
The new administration’s long-vowed to hike all Federal taxes on the well-to-do, and to lower the bar on taxable estates to just a few million, meaning many – if not most – readers of this piece will be paying aplenty.
forbes.com
IRS Will Start Sending Tax Refunds on Up to $10,200 in Unemployment Insurance in May. Here's Who Qualifies
Taxpayers who received unemployment income in 2020 and filed their taxes early in the year may receive a refund from the IRS next month.
nbcwashington.com