Blog
July 20, 2020
You’ve probably been thinking about reopening since your office closed, but your employees may not be comfortable with the idea. Each firm will have different needs and considerations, but the Centers for Disease Control and Prevention (CDC) created a decision tree to help you think through scenarios. (click on the picture to read more)...
July 20, 2020
The AICPA recommends that the IRS further expand on its previously announced relaxation of its requirements for digital signatures in the collections area to four other areas. the IRS should allow all taxpayers the option to use an e-signature for the Form 8878 series and the Form 8879 series for e-file signature authorizations, if the taxpayer’s software has e-signature capability. (click on the picture to read more)...
July 6, 2020
More than 3,600 complaints of COVID-19 scams had come into the FBI’s Internet Crime Complaint Center through April 21, according to the U.S. Department of Justice. (click on the picture to read more)...
June 30, 2020
The current system requires taxpayers to mail a paper amended return to the IRS for processing, and the IRS receives over 3 million of those forms each year. The new electronic option allows the IRS to receive amended returns faster while minimizing errors normally associated with manually completing the form. (click on the picture to read more)...
June 23, 2020
Legislation introduced in the Senate on Tuesday would overrule an IRS notice and clarify that ordinary expenses funded by Paycheck Protection Program (PPP) loans are deductible by taxpayers. (click on the picture to read more)...
June 12, 2020
The IRS issued long-promised proposed regulations explaining how taxpayers who may qualify for the Sec 36B premium tax credit are affected by the temporary reduction of the personal exemption deduction. (click on the picture to read more)...
June 8, 2020
The relief eases some potential consequences that a prolonged stay in a country may have on the determination of where an individual or business is subject to taxation. (click on the picture to read more)...
May 29, 2020
There’s a lot we have learned over the past two weeks as a nation, as an industry and as business owners. It’s important to take a closer look at the good, the bad and the ugly of the Paycheck Protection Program, and most importantly, what needs to be done next (click on the picture to read more)...
May 25, 2020
Finally, there are some nexus and withholding issues that states can address by just giving taxpayers guidance. Essentially, employees working remotely can create income tax nexus and withholding obligations for employers in those states. (click on the picture to read more)...
May 14, 2020
To enable taxpayers to continue to submit requests for IRS guidance during the coronavirus pandemic, the IRS is temporarily allowing the electronic submission of requests for letter rulings, closing agreements, determination letters, and information letters under the jurisdiction of the IRS Office of Chief Counsel (click on the picture to read more)...