Category Archives: Uncategorized

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IRS to begin audits of personal, business use of corporate jets

Category:Uncategorized

IRS Commissioner Danny Werfel said Wednesday that the audits will focus on business vs. personal use of aircraft by large corporations, large partnerships, and high-income taxpayers.
Source: JOA News
Read More here – IRS to begin audits of personal, business use of corporate jets


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The ERC: Practitioners’ responsibilities to amend income tax returns

Category:Uncategorized

Practitioners must weigh applicable professional standards and exercise due diligence in assessing whether a taxpayer claiming an employee retention credit must amend one or more income tax returns to reduce deductions of wages for which the credit was claimed.
Source: JOA News
Read More here – The ERC: Practitioners’ responsibilities to amend income tax returns


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Helping sole proprietors choose between a solo 401(k) and a SEP-IRA

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Understanding the differences between these two types of retirement plans can help sole proprietors make the best choice for their bigger-picture tax and retirement savings goals.
Source: JOA News
Read More here – Helping sole proprietors choose between a solo 401(k) and a SEP-IRA


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No ‘gotcha’ enforcement of BOI regulations, FinCEN chief vows

Category:Uncategorized

Andrea Gacki, director of the Financial Crimes Enforcement Network, reassured a House committee that the agency can act only against willful violations of the new beneficial ownership information reporting rule.
Source: Tax News
Read More here – No ‘gotcha’ enforcement of BOI regulations, FinCEN chief vows


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No ‘gotcha’ enforcement of BOI regulations, FinCEN chief vows

Category:Uncategorized

Andrea Gacki, director of the Financial Crimes Enforcement Network, reassured a House committee that the agency can act only against willful violations of the new beneficial ownership information reporting rule.
Source: JOA News
Read More here – No ‘gotcha’ enforcement of BOI regulations, FinCEN chief vows


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On Form 1099-K delays, Werfel says IRS must protect taxpayer rights

Category:Uncategorized

IRS Commissioner Danny Werfel also discussed the employee retention credit and IRS funding when he appeared before the House Ways and Means Committee on Thursday.
Source: Tax News
Read More here – On Form 1099-K delays, Werfel says IRS must protect taxpayer rights


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On Form 1099-K delays, Werfel says IRS must protect taxpayer rights

Category:Uncategorized

IRS Commissioner Danny Werfel also discussed the employee retention credit and IRS funding when he appeared before the House Ways and Means Committee on Thursday.
Source: JOA News
Read More here – On Form 1099-K delays, Werfel says IRS must protect taxpayer rights


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A&A Focus recap: ASB update, technology spotlight, AR-C Section 70, and CECL

Category:Uncategorized

The February AICPA accounting, audit, and attest webcast brought together experts, including the chairs of the Auditing Standards Board (ASB) and the Accounting and Review Services Committee (ARSC), to provide updates on recent news.
Source: JOA News
Read More here – A&A Focus recap: ASB update, technology spotlight, AR-C Section 70, and CECL


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Return-to-office politics: 4 tips for reducing talent attrition

Category:Uncategorized

A survey finds that high-performing workers often balk at being forced back into the office, giving companies plenty to consider before mandating a return.
Source: JOA News
Read More here – Return-to-office politics: 4 tips for reducing talent attrition


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7 warning signs that an ERC claim is questionable, from the IRS

Category:Uncategorized

As the March 22 deadline for the ERC voluntary disclosure program approaches, the IRS alerted small businesses to seven red flags that it is focusing on when it reviews claims.
Source: Tax News
Read More here – 7 warning signs that an ERC claim is questionable, from the IRS