June 25, 2020
The Internal Revenue Service Office of Chief Counsel has announced a time-limited settlement offer to certain taxpayers with pending docketed Tax Court cases involving syndicated conservation easement transactions.
June 25, 2020
The survey also found that more than a third of taxpayers (37%) do not have the resources to pay 2019 taxes owed despite the deadline being extended to July 15th.
June 25, 2020
A majority of taxpayers (61%) are deeply concerned that the financial impacts of COVID-19 may force them into tax debt, adding to the $131 billion already owed to the IRS by 14 million Americans.
June 25, 2020
Technology and evolving standards are transforming the way audits are being conducted. The AICPA has been a leader in this area, particularly in its work to define and develop the audit of the future through projects such ...
June 24, 2020
There are many advantages to leveraging the cloud to consolidate your document storage. These include increased document accessibility, improved time management, and enhanced data security, not to mention a ...
June 24, 2020
The $3 trillion Health and Economic Recovery Omnibus Emergency Solutions Act (“HEROES Act”), already passed by the House, would again distribute $1,200 per person, via paper checks, direct deposit deposit or debit cards.
June 22, 2020
Despite initial uncertainty around the terms of their PPP loans, most business owners now indicate the PPP Flexibility Act will be meaningful for their businesses as they work to resume operations and bring back employees.
June 22, 2020
Cloud-based AP is becoming an essential ingredient in modernizing and digitally transforming financial operations, while also insulating companies from business disruption, so companies can stay afloat...
June 21, 2020
A coronavirus-related distribution is not subject to the 10% additional tax that otherwise generally applies to distributions made before an individual reaches age 59 ½.
June 19, 2020
The Accounts Payable process continues to require too much manual handling, even after decades of automation efforts. Even the best invoice automation efforts range from 70-90% data ...
June 18, 2020
With Artificial Intelligence (AI) increasingly impacting business and auditors, Chartered Professional Accountants of Canada (CPA Canada) and the American Institute of CPAs (AICPA) have partnered to produce two new white papers on the topic.
June 18, 2020
While no one can predict how long the current environment will last, practitioners are in a unique situation to advise their clients on how they might take advantage of current gift and estate planning opportunities.