CPA Never under estimate the value
The IRS said it would not require taxpayers who received excess advance premium tax credits for 2020 to file Form 8962, Premium Tax Credit, after the American Rescue Plan Act retroactively exempted those amounts from being taxed.
Source: JOA News
Read More here – IRS explains new treatment of excess premium tax credits
Employee benefit plan tax professionals need to dig deep in search of affiliates under common control and must carefully assess whether plans are skewed in favor of highly compensated employees.
Source: JOA News
Read More here – EBP tax compliance testing tips
The AICPA Auditing Standards Board has extended the comment period through Aug. 31 for an exposure draft of three interrelated proposed standards that would change the way firms manage quality in their accounting and auditing practices.
Source: JOA News
Read More here – ASB extends comment period for quality management ED
Companies should consider benefits and challenges of hiring workers outside their geographic area.
Source: JOA News
Read More here – How hiring practices have shifted as a result of the pandemic
The AICPA has released some recommendations for practitioners concerning various issues that have arisen due to the postponement of the April 15 tax deadline for individuals.
Source: Tax News
Read More here – AICPA recommendations on Q1 estimates and 2020 Form 709 extensions
The AICPA has released some recommendations for practitioners concerning various issues that have arisen due to the postponement of the April 15 tax deadline for individuals.
Source: JOA News
Read More here – AICPA recommendations on Q1 estimates and 2020 Form 709 extensions
The SBA opened its new application portal for the $16.25 billion Shuttered Venue Operators Grant (SVOG) program, but shut it down for repairs due to “technical difficulties” that prevented the platform from accepting applications.
Source: JOA News
Read More here – Shuttered Venue Operators Grant program closes for repairs on its opening day
The IRS issued guidance on Thursday on the temporary rule that allows a 100% deduction for eligible restaurant meals in 2021 and 2022.
Source: Tax News
Read More here – IRS explains which meals qualify for temporary 100% expense deduction
Rep. Lloyd Smucker, R.-Pa., announced he will introduce a bill that pushes back the due date for first-quarter 2021 estimated tax payments from April 15, 2021, to May 17, 2021. The AICPA expressed its support for the bill.
Source: Tax News
Read More here – Bill to postpone estimated tax due date to be introduced in Congress
The IRS issued guidance on the temporary rule that allows a 100% deduction for eligible restaurant meals in 2021 and 2022.
Source: JOA News
Read More here – IRS explains which meals qualify for temporary 100% expense deduction
