Small Business September 8, 2022
The Work Opportunity Tax Credit for 2022 (WOTC)
The latest extension—approved as part of the Consolidated Appropriations Act (CAA)—continues the WOTC for a five-year period.
September 7, 2022
Tax Issues with Student Loan Forgiveness
Generally, the income is taxable in the year that the forgiveness or cancellation occurs. The creditor will
September 7, 2022
Arranging a Tax-Favored Installment Sale
With this tried-and-true tax planning technique, you can defer the tax over several years, usually reducing the overall tax bite.
September 3, 2022
Five Tax Breaks for Higher Education
It cost a pretty penny to send your kids to school, but at least the tax law affords some measure of tax relief. Here’s a roundup of five key tax breaks for higher education.
September 2, 2022
IRS Exposed Confidential Data on 120,000 Taxpayers on Open Website
The Internal Revenue Service mistakenly published confidential data for 120,000 taxpayers on its website before realizing the error and taking down the data, the Treasury Department said.
Accounting September 1, 2022
Inflation Nation: U.S. Business Executives Project Zero Profit Growth for Coming Year
Revenue projections also fell, quarter over quarter, from an expected 3.4% growth rate over the next 12 months to 2.6%.
Accounting August 31, 2022
The Comedy Store Sues Moss Adams Over Missed $8.5 Million in COVID Relief Funds
The suit claims the accounting firm misrepresented its expertise about the federal COVID-related relief program.
August 30, 2022
California Man Pleads Guilty to $25 Million PPP Loan Fraud Involving Pro Athletes
Conspired to prepare and file with the IRS a series of false and fraudulent income tax returns on behalf of at least nine professional athletes.
August 30, 2022
Florida Tax Preparer Gets 1 Year in Prison for Contempt
Convicted of criminal contempt for continuing to prepare and file tax returns with the IRS in violation of a federal court order barring him from doing so.
August 30, 2022
AICPA CEO Says Claims of a Militarized IRS are Misleading Myths
In a statement, AICPA president and CEO, Barry Melancon, CPA, CGMA, addressed various false claims about militarization of the agency ...
Advisory August 30, 2022
New Intuit Tax Advisor System Integrates Tax Prep and Advisory
ITA generates client-friendly reports with recommendations that are personalized for estimated tax savings strategies.
August 29, 2022
AICPA Releases Comments Requesting Guidance in Key Areas Related to Remote Work
The AICPA requested guidance in several key areas related to employees working remotely and offering recommendations regarding the taxation of payments related to remote work.