Payroll July 19, 2023
Previously, any money that grandparents gave a grandchild for college had to be reported as student untaxed income on the FAFSA, potentially lowering the student’s eligibility for financial aid.
Taxes July 18, 2023
Over the past 60 years, in times of adverse economic cycles, sales taxes have provided a more resilient method of funding relative to income and property taxes.
Taxes July 17, 2023
A frivolous claim is one that is used to support an unreasonable entry on your returns or the failure to file a return. Numerous such claims have been shot down by the IRS, as well as the courts, in recent years.
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Accounting July 11, 2023
According to the survey, 76% of financial institutions are experiencing enhanced regulatory scrutiny related to sanctions since early 2022.
Payroll July 7, 2023
Fourteen people were charged in a $53 million fraud scheme involving the federal government’s pandemic relief program, including some executives from a Dallas metal recycling firm.
July 6, 2023
Be aware, however, that this special tax treatment isn’t automatic. To qualify for Section 1244 treatment, the following four main requirements must be met.
Taxes July 6, 2023
When planning your travels this summer or any other time of the year—business or personal—just remember that the IRS pays close attention to expenses incurred.
Accounting July 5, 2023
Wei joined the NYSSCPA in 1994 and is a member of the Queens/Brooklyn Chapter, where he served as president, president-elect, and currently sits on the Executive Board.
Payroll June 30, 2023
About 26 million borrowers applied for relief. If put into effect, the program is projected to cost more than $400 billion.
Taxes June 28, 2023
Form 706-GS(D-1) is used by trustees to report certain distributions from a trust that are subject to the generation-skipping transfer tax (GSTT).
Advisory June 28, 2023
By now, most tax preparers are aware they need to comply with the FTC Safeguards Rule and IRS Publication 4557. Failure to do so could result in stiff penalties.
Taxes June 28, 2023
The AICPA supports altering the due dates for estimated tax payments, stressing that it would be better to more closely tie payment due dates to the normal quarter date, which is traditionally 15 days after the quarter end.