CPA Never under estimate the value
The IRS said Thursday it will reopen its voluntary disclosure program to allow businesses to correct questionable claims for the pandemic-era employee retention credit.
Source: JOA News
Read More here – Businesses with dubious ERC claims have another chance with the IRS
A letter asks the Department of Homeland Security to add accounting to its STEM Designated Degree Program List in an effort to bolster talent acquisition.
Source: JOA News
Read More here – AICPA, state CPA societies nominate accounting for STEM designation
A shift away from the traditional view of what it means to retire in America means that innovative approaches can lead to better outcomes for everyone.
Source: JOA News
Read More here – Retirement: How to respond to the changing definition of the word
The most recent draft of the form for reporting digital asset transactions reflects the final regulations for custodial broker reporting that the IRS released in June.
Source: JOA News
Read More here – IRS releases updated draft of Form 1099-DA for digital assets
The PSA uses a chat between friends in a coffee shop to educate small businesses about beneficial ownership information reporting, which 32.6 million businesses must file.
Source: JOA News
Read More here – FinCEN uses TV ad to tell businesses about BOI
The IRS moved the moratorium date forward into early 2024. Also, it announced sending disallowance letters to some businesses with invalid claims and plans for payments to others.
Source: JOA News
Read More here – ERC disallowance letters go to 28K businesses, moratorium adjusted
FinCEN, which oversees beneficial ownership information reports, has received just 2.7 million of the 32.6 million reports that it expects. Through June, FinCEN said, it has reached more than 90,000 stakeholders.
Source: JOA News
Read More here – BOI requirements roll along despite concerns about too little outreach
A tax practitioner complained about a six-week wait for a response to help a client with a financial hardship who was owed a refund, leading to the unflattering review by the Treasury Inspector General for Tax Administration.
Source: JOA News
Read More here – Tax practitioner complaint leads to review of advocate phone service
Retiring clients need a realistic and accurate target that ensures they neither outlive their savings nor unnecessarily restrict their “fun money” spending. Here are some steps to follow.
Source: JOA News
Read More here – Helping pre-retirees choose a retirement spending limit
Barry Melancon, CPA, CGMA, AICPA & CIMA’s CEO, said the decisions will create uncertainty for a profession that craves certainty.
Source: JOA News
Read More here – Melancon: Supreme Court decisions are ‘big deal’ for tax pros
