survey: drake takes the cake in tax apps
top seven tax software platforms rated and reviewed.
by 卡塔尔世界杯常规比赛时间
tax practice
bradley burnett: the “uncle billy” problem with the erc
irs notice 2021-29 “drops a bomb” on the employee retention credit.
with bradley burnett, jd llm
with 18 months of water under the bridge, we’re three-fourths of the way through the employee retention program, the irs changed their mind on an extremely important issue that changes many, many tax situations.
the question is: who’s eligible? and who’s not? read more →
irs “drops a bomb” on erc
bradley burnett: the “uncle billy” problem with the erc.
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subscribe to the podcast here | watch the video here
with bradley burnett, jd llm
with 18 months of water under the bridge, we’re three-fourths of the way through the employee retention program, the irs changed their mind on an extremely important issue that changes many, many tax situations. read more →
pop quiz: can you find $330,000 for your clients?
but hurry, time is running out.
by bradley burnett, jd llm
the employee retention credit could be worth more than $330,000 to a small-business client.
but our polling shows that 75 percent of tax and accounting professionals have filed no (that’s zero) forms to claim the credit for clients. and now it’s ending early, due to a congressional compromise on the big infrastructure bill.
the “ludicrously lucrative” employee retention credit
but congress adds a last-minute surprise.
with bradley burnett, jd llm
> > > catch bradley’s next webinar on the erc here
cybersecurity for tax professionals
checklist: the 24 steps to prevent and, if necessary, respond to breaches.
by amy welch
last year, there were nearly 90,000 reports of tax identity theft, according to the federal trade commission.
in fact, in june, an irs agent admitted to stealing someone’s identity. law360.com reported special agent bryan cho, 49, pled guilty to aggravated identity theft and wire fraud in a brooklyn district court. it appears anyone can be a criminal!
join donny shimamoto, cpa, citp, cgma, for “hybrid work: holistic approach to customer, employee & cybersecurity risks,” aug. 26, 3:30 pm et. register here | learn more
it’s also important to note that protecting taxpayer data is the law. according to the ftc safeguards rule, “tax return preparers must create and enact security plans to protect client data. failure to do so may result in an ftc investigation.” additionally, any “failures that lead to an unauthorized disclosure may subject you to penalties under sections 7216 and/or 6713 of the internal revenue code. read more →
watch: “brand spanking new!” irs notice on employee retention credit
live webinar: the ridiculously lucrative employee retention credit
what congress giveth, it takes away. so hurry.
by bradley burnett, jd llm
question: what’s a great way to spend cash, then put it right back into your pocket?
answer: spend it on wages, then claim the employee retention credit (erc). 
click for webinar details
it’s a great deal and keeps on getting better.
“brand spanking new!” irs notice on the employee tax credit
ira tax memo: why you really need a protective trust
extract from forthcoming update to practitioner’s guide to ira distribution rules
by seymour goldberg, cpa, mba, jd
the practitioner’s guide to the ira distribution rules under the secure act
editor’s note: as sy goldberg prepares an update to his “practitioner’s guide to the ira distribution rules under the secure act,” he’s uncovering some important nuggets, such as this extract to be found in a section called advantages of trusts as ira beneficiary. this extract, and much more, will be included in the forthcoming update, which is free to purchasers of the current edition.
the use of a protective trust as an ira beneficiary with special provisions when clients have insufficient probate assets and significant ira assets and the estate tax liability is significant.
this means that there may not be a source for payment of estate taxes that are attributable to the ira assets if the beneficiary or beneficiaries of the ira assets do not voluntarily cooperate in reimbursing the personal representative of the estate for the estate taxes attributable to the ira accounts.
closing the tax gap: more data, more compliance?
tax professionals should brace for a new wave of information reporting.
by 卡塔尔世界杯常规比赛时间 research
here’s something the irs has discovered and many tax preparers can probably confirm: while roughly 99 percent of taxes due on wages are paid to the irs, compliance on less visible sources of income is estimated to be just 45 percent.
more: how charlatans, creeps, and ghosts plague the tax profession | grappling with the tax gap | wealthiest taxpayers cheat irs out of $400 billion a year | 173% increase in irs correspondence backlog | hunker down: the irs backlog isn’t going away anytime soon | the irs studebaker bomb | imagine irs ‘concierge’ service. just imagine. | irs has recruiting problems, too
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yes, it seems that americans are more willing to pay what they owe when the irs knows they owe it.
read more →
how charlatans, creeps, and ghosts plague the tax profession
aicpa backs bill to regulate tax practitioners.
by 卡塔尔世界杯常规比赛时间 research
here’s a shocking stat from the treasury department:
“… unregulated preparers who lack the training to provide accurate tax assistance … submit more returns than all other preparers combined.”
more: grappling with the tax gap | wealthiest taxpayers cheat irs out of $400 billion a year | 173% increase in irs correspondence backlog | hunker down: the irs backlog isn’t going away anytime soon | the irs studebaker bomb | imagine irs ‘concierge’ service. just imagine. | irs has recruiting problems, too
that sounds like trouble in a number of ways:
- unwitting taxpayers may be paying more taxes than they owe.
- taxpayers may be left liable for shoddy or shady tax preparation.
- the irs may be collecting less than it could.
- taxpayers may be left in a lurch when the irs has questions but the preparer has disappeared.
salt: the small business disaster waiting to happen
more highlights: “tax season from hell.” the pandemic pivot. small business outlook. digitally-powered recovery.
by 卡塔尔世界杯常规比赛时间
three years after the notorious “wayfair” decision, accountants say a vast number of small businesses face new and burdensome interstate sales tax measures. but only a few accountants appear ready to help, according to new research by 卡塔尔世界杯常规比赛时间.
more: survey: rough seas ahead for small business
most accountants believe that 98 percent of small businesses – virtually all – are failing to fully comply with all the interstate sales tax issues they may be liable for. and yet, about 71 percent of accountants are falling short of handling all their clients’ sales tax issues, with about 12 percent saying they address “most” issues, 36 percent handling “some,” and 24 percent handling none, according to the new study conducted in conjunction with avalara, the tax management software company.