Taxes

March 10, 2021 

President Biden has signed into law the new economic relief package passed by the House of Representatives and Senate on Wednesday. The American Rescue Plan (ARP) Act provides a wide array of tax-related benefits for individuals. Following is a brief ...

March 10, 2021 

Canopy is also introducing a global inbox enabling accountants to view and manage all work emails in one place—from both clients and non-clients. In addition to this tool, Canopy will make it easy to create a task or contact directly from an email in ...

March 10, 2021 

The event was developed to offer firms and their staff a much-needed mid-season break, complete with high-value prizes and inspiring sideline reports from peer firms across the country.

March 16, 2021 

Corvee, a software and solutions company serving tax and accounting firms, is offering a webinar to help tax and accounting professionals navigate the latest COVID-19 Stimulus Relief Bill (American Rescue Plan). The webinar aims to provide insight and ...

March 8, 2021 

In her role at the American Hotel & Lodging Association, Weir designed and executed programs that delivered career advancement opportunities and competency attainment for professionals in the hotel sector in order to strengthen the lodging industry ...

March 7, 2021 

President Joe Biden’s signature $1.9 trillion Covid-19 relief bill passed the Senate 50-49 on Saturday following a more than 25-hour marathon of amendment votes completed after Democrats settled an intra-party dispute over unemployment aid.

March 5, 2021 

The closing letter is issued to an executor of a decedent’s estate for which a Form 706, U.S. Estate (and Generation-Skipping Transfer) Tax Return, or Form 706-NA, United States Estate (and Generation-Skipping Transfer) Tax Return ...

March 4, 2021 

In a letter to the Department of the Treasury and the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) called for the extension of the filing and payment deadline for the 2020 tax year until June 15, 2021.

March 4, 2021 

Following the submission of AICPA’s recommendations, the IRS released guidance on the ERC. However, the guidance failed to clarify whether wages paid to S corporation owners and their actively employed spouses qualify for the ERC if all other ...

March 3, 2021 

As you gear up for tax season, it’s also a good idea to assess your strengths and weaknesses organizationally. This year, perhaps to a greater degree than ever, I predict the demand for strong, experienced finance leaders who can navigate the C-suite...

Jodi Chavez

March 2, 2021 

For 2020, the employee retention credit can be claimed by employers who paid qualified wages after March 12, 2020, and before January 1, 2021, and who experienced a full or partial suspension of their operations or a significant decline in gross receipts.

March 2, 2021 

The Internal Revenue Service says that interest rates will remain the same for the calendar quarter beginning April 1, 2021. The rates will be: 3% for overpayments [2%t in the case of a corporation]; 0.5%for the portion of a corporate overpayment exceeding $10,000; 3% for underpayments; and 5% for large corporate underpayments. Under the Internal...…