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Find out the types of unclaimed property notices companies receive and best practices on handling them.
Source: JOA News
Read More here – How to handle state unclaimed property notices
In determining the beginning of the lookback period for refund claims for returns with due dates postponed by Notice 2021-21 or Notice 2020-23, the IRS will disregard the periods from April 15, 2020, to July 15, 2020, and from April 15, 2021, to May 17, 2021. This change will align the lookback periods with the postponed return filing due dates.
Source: Tax News
Read More here – Lookback period extended for refunds related to pandemic postponements
In determining the beginning of the lookback period for refund claims for returns with due dates postponed by Notice 2021-21 or Notice 2020-23, the IRS will disregard the periods from April 15, 2020, to July 15, 2020, and from April 15, 2021, to May 17, 2021. This change will align the lookback periods with the postponed return filing due dates.
Source: JOA News
Read More here – Lookback period extended for refunds related to pandemic postponements
The Supreme Court held that the $10,000 maximum penalty for the nonwillful failure to file a compliant report applies on a per-report, not a per-account, basis.
Source: Tax News
Read More here – Supreme Court holds FBAR penalty is imposed per report, not per account
The Supreme Court held that the $10,000 maximum penalty for the nonwillful failure to file a compliant report applies on a per-report, not a per-account, basis.
Source: JOA News
Read More here – Supreme Court holds FBAR penalty is imposed per report, not per account
A district court held that the PTIN fees charged by the IRS from 2011 to 2017 were excessive and ordered the IRS to determine an appropriate partial refund of the fees.
Source: Tax News
Read More here – District Court holds IRS owes tax preparers partial refund of PTIN fees
A district court held that the PTIN fees charged by the IRS from 2011 to 2017 were excessive and ordered the IRS to determine an appropriate partial refund of the fees.
Source: JOA News
Read More here – District Court holds IRS owes tax preparers partial refund of PTIN fees
The Financial Accounting Foundation released its free, enhanced online access to the FASB Accounting Standards Codification and the GASB Governmental Accounting Research System.
Source: JOA News
Read More here – FAF debuts enhanced access to online accounting standards
More large companies than ever are reporting ESG data and obtaining assurance, according to a global survey, prompting many U.S. audit firms to explore how to best position themselves for an increased role.
Source: JOA News
Read More here – Opportunity knocks for firms as ESG reporting, assurance levels rise
Taxpayers in most of California and parts of Alabama and Georgia have had their tax filing and payment deadlines further extended to Oct. 16. The postponement covers a wide variety of returns and taxes.
Source: Tax News
Read More here – Taxpayers in disaster areas of 3 states have until Oct. 16 to file returns
