tax practice

seven trillion reasons to pay attention

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how closing the $7-trillion tax gap could impact the tax prep business.

by 卡塔尔世界杯常规比赛时间

president biden is proposing some big – and some would say long overdue – spending on infrastructure and programs to help lift americans out of the pandemic recession. he can’t raise taxes – that’s congress’s purview – but collecting taxes falls within the obligations of the executive branch.

more: 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
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

and the executive branch smells potential.
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she wanted her shoebox back

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one of the oddest ways i ever lost a client.

hoisted from comments
looking at comments, ed mendlowitz seems to have hit a nerve with this piece. 卡塔尔世界杯常规比赛时间 readers are reacting with knowing nods and war stories of their own. 

by ed mendlowitz
call me before you do anything: the art of accounting

who would ever think that the most important part of a shoebox with a client’s tax information was the shoebox?

more: when parents, children hit an impasse | how bickering can ruin a family business | one hour a year since 1972 | 50 ways to make more money in busy season | 20 good ways to boost tax season production
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not me, and i lost a client because of it. read more →

seven state societies team for all-star real estate tax conference

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koch

seven half-day virtual events help practitioners maximize deductions and increase cash flow for real estate and construction clients.

by 卡塔尔世界杯常规比赛时间
via bedford

karen koch, cpa, a legendary figure in real estate tax accounting, is headlining a seven-date, 4-cpe, virtual real estate conference series in association with the state cpa societies of connecticut, kentucky, virginia, texas, ohio, missouri, and minnesota.

she’ll be joined by renowned cpa tax specialists andy ackermann of mcm cpas and advisors, blake christian at hcvt, stephen lukinovich at mcm, josh malancuk of jm tax advocates. 卡塔尔世界杯常规比赛时间 editor-publisher rick telberg will also be participating.

“we’re honored to be working with so many of the nation’s leading state societies for our profession,” noted bedford partner karen koch, cpa/mbt. “we can’t wait to start sharing insights from some of the smartest professionals i know about the impact of tax incentives related to cost segregation, epact 179d certification, and r&d tax credits.”

the four-hour cpe events will provide a mix of pre-recorded presentations and live q&a from experts in the areas of cost segregation, energy credits, real estate elections, low-income housing credits, cost seg for opportunity zone investors, r&d credits in the construction industry, and real estate property tax reduction strategies.
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avalara launches new tax automated compliance apps for accountants at all levels of practice

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offers accountants the tools to build an independent salt practice.

by 卡塔尔世界杯常规比赛时间
via avalara

avalara inc., a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced an array of new tax compliance automation products and services designed specifically for accountants. the announcement is timed for the opening of avalara’s annual user conference, crush.

avalara for accountants provides accounting professionals with the technology to simplify and streamline their tax compliance practice, including:

  • sales tax returns preparation and filing automation options
  • license research, preparation, and management
  • sales tax expert advice

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avalara crush 2021: the new rules for tax tech

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mcfarlane

ceo mcfarlane: “navigate the new rules that are defining global commerce as we know it.”

avalara, a leading provider of tax compliance automation for businesses of all sizes, today announced details of its keynotes and featured speakers for avalara crush virtual, its fifth annual tax conference, and industry gathering.

“this year, avalara crush is designed to help attendees navigate the new rules that are defining global commerce as we know it,” said scott mcfarlane, co-founder, and ceo of avalara. “we’ve assembled thought leaders and experts on the forefront of tax compliance to share their insights, views, and strategies for success. i’m confident that attendees will walk away with the knowledge and insights needed to tackle tax compliance and help ensure tax never stands in the way of opportunity.”

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annual criminal tax conference set for june 4

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the one-day online conference features irs leaders and top tax attorneys and eight cpe credits.

hosted by eric green

key irs leaders and nationally recognized criminal tax attorneys will convene june 4 for the fourth annual criminal tax day 2021, a one-day online conference hosted by green & sklarz foundation trust that provides educational cpe/cle sessions for cpas, eas, and attorneys on the hottest criminal tax topics. all proceeds go to charity.

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don’t fire that staffer on may 18!

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midsection of businessman moving out with cardboard box from officefour reasons not to let people go after tax season.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: i am planning on letting go of some staff after tax season and will hire replacements at a higher level. any suggestions?

more: what to do with a lousy client? | stop drowning in client documents | make more money starting now | the wrong way to look for staff | strategic planning for the small firm | before you sell your practice | work the client needs … but won’t pay for
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answer: 1) your implication is that you will hire replacements at a higher level.
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how a few of the wealthiest skate around the irs

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and the irs is looking the other way.

by 卡塔尔世界杯常规比赛时间

the internal revenue service isn’t supposed to consider a taxpayer’s income or wealth when prioritizing taxpayer delinquent accounts. rather, the service is supposed to focus on balances due, pursuing collection of higher amounts.

more: pros tackle 49% of e-filed returns | survey: tax season swings into the red | another tax season from hell? | pros process 44% of tax e-filings | tax professionals report tough slogging | busy season 2021 gets off to weak start
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obviously, many of those higher balances are owed by taxpayers (or tax dodgers) in the higher adjusted gross income brackets, and the irs believes that pursuing high balance dues effectively addresses high agis.

but the treasury inspector general for tax administration says that focusing on the balance due is increasing the risk of high earners skipping out on what they owe.

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173% increase in irs correspondence backlog

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who knew?

by 卡塔尔世界杯常规比赛时间

we all know how the irs works. they send a letter to a possibly delinquent taxpayer who, in quivering fear, returns a response that is slipped through the mail slot in the irs door, where it falls into a shredder that feeds into a massive onsite incinerator. the letter’s ashen remains are then loaded onto a rocket and shot toward alpha centauri, never to be seen again.

more: 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
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

actually, that’s not entirely true. in 2019, irs compliance services collection operations managed to respond to 25 percent of its “inventory” of taxpayer delinquent account correspondence. the other 75 percent was considered “over-aged” after not being dealt with within 45 days of receipt.
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