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Taxpayers who adopted or started the adoption process in 2021 may qualify for the adoption credit. This credit can be applied to international, domestic private, and public foster care adoption. Continue Reading
This week's topics: Form 1024 joins Form 1023 in becoming online only filings; Pressure builds on the IRS to pause automated notices in light of inability to handle correspondence on notices already issued; IRS announces beginning of filing season along with other information for the season Continue Reading
The Internal Revenue Service today issued frequently asked questions (FAQs) for the 2021 Recovery Rebate Credit PDF. Individuals who did not qualify for, or did not receive, the full amount of the third Economic Impact Payment may be eligible to claim the 2021 Recovery Rebate Credit based on their 2021 tax year information. Continue Reading
The pandemic is no longer an excuse to ignore cultivating new and existing business relationships. Make 2022 the year you up your networking game. Continue Reading
Whether it’s a full-time job or just a side hustle, taxpayers must report gig economy earnings on their tax return. The IRS offers several resources to help gig economy taxpayers properly fulfill their tax responsibilities. Continue Reading
The Internal Revenue Service today updated frequently asked questions (FAQs) for the 2021 Child Tax Credit and Advance Child Tax Credit to help eligible families properly claim the credit when they prepare and file their 2021 tax return. Continue Reading
The vast majority of tax and finance leaders see a need for improved technology and data skills in their employees, according to a new international survey. Continue Reading
CPA tax professionals greeted the launch of tax season with skepticism that the IRS will be able to contend with its continuing logistical challenges, with taxpayers and their preparers likely to experience more frustration and delays Continue Reading
The four major ways in which the financial executive role will evolve in 2022. Continue Reading
This week's topics: IRS publishes detail on changes for amended returns and research credits; Taxpayers do not have to pay in tax IRS undercomputed when adjusting for unemployment compensation; Expenses used for PPP loan forgiveness do not reduce AAA for S corporations per IRS instructions; Information letter addresses when industry accountant becomes a paid preparer; An audio only version of this week’s update can be downloaded or streamed below Continue Reading