AICPA Addresses ‘Plummeting’ Level of Service with IRS Practitioner Priority Service Phone Line
Service levels for the practitioner priority service phone line have been in continuous decline for several years.
Product & Service Guide
AICPA Submits Recommendations on Green Book Trust & Estate Tax Provisions
The AICPA expressed several concerns with proposals that could be included in future tax legislation. Comments submitted address the following proposals:
House Sends Biden Landmark Tax, Climate, Health Bill to Sign
The legislation passed the House this afternoon on a party line 220-207 vote.
Tax Bill Costs Corporations Nearly $300 Billion More, While Middle Class Will Pay Less
Households earning $500,000 would face 1% increase in tax burden if House passes tax-and-climate bill.
Most Americans: ‘I’ve Got 99 Problems, But an IRS Audit Ain’t One’
A new poll found that a majority of voters (76%) weren’t worried about the prospect of being audited by the IRS.
A SEP-IRA Can Be the Easy Way Out
First off, the employer must contribute to a SEP-IRA for any employees age 21 and over who have worked for the business three out of the previous five years
Here’s What Rich Americans Could Face From a Beefed-Up IRS
Wealthy Americans should be prepared for audit levels they haven’t seen in decades, if the Democrats’ tax and climate bill passes the House.
Carried Interest Rules Live to See Another Day
This tax break has been in the crosshairs of Congress for years but was removed from Senate Democrats’ Inflation Reduction Act.
This Retirement Plan Is Just for Self-Employeds
You can adopt either a defined contribution Keogh plan or a defined benefit Keogh plan. As you might expect, the rules for these variations generally
Solo 401(k) Plans: Looking Out for Number One
A solo 401(k) plan works pretty much like a traditional 401(k). For starters, you can elect to defer part of your salary to your account within generous annual limits.
Americans Living Paycheck to Paycheck Increased Year-Over-Year Across All Income Levels
In addition, average savings dropped $517 from $11,724 in May 2022 to $10,757 in June 2022.
Nearly Half of U.S. Companies Plan to Add Staff in the Second Half of 2022
However, nearly eight in 10 managers in finance and accounting worry about resignations from their team.
Starting a Retirement Plan? Keep It SIMPLE
To qualify to use a SIMPLE, the business can’t employ more than 100 workers. This includes any employees who earned at least $5,000 in the previous year.
IRAs Are Better Than No Retirement Plan At All
Contributions are invested and can grow and compound within your account without any current tax until withdrawals are made. This is an easy type of retirement plan to set up and maintain.
The Independent Contractor Dilemma
Gig economy companies classifying their workers as independent contractors continue to face lawsuits, state action, and federal agency enforcement
U.S. Sales Tax Reached All-Time High
Historically, over the past 60 years, it has been shown that during adverse economic cycles, the sales tax provides a much more consistent method of funding relative to the income tax.