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Best of the Week

March 13, 2021

Momentum builds for delaying tax deadline

By Michael Cohn 3 min read

Leaders of the House Ways and Means Committee and accounting groups are calling for extending the tax deadline to give the IRS, taxpayers and tax professionals an extra three months.

Preparers divided over postponing filing deadline

By Jeff Stimpson 4 min read

Some tax pros say the confusion caused by the pandemic require a delay; others say it should be unnecessary by now.

Inside the tax provisions of the stimulus act

By Roger Russell 3 min read

Mark Luscombe offers an in-depth look at the many tax angles of the American Rescue Plan.

AICPA calls for later PPP deadline, revisions to guidance

By Michael Cohn 7 min read

Confusion around the program and other stimulus measures may be preventing small businesses from getting the help they need.

2 key tax things an advisor can do for clients this filing season

By Lynnley Browning 5 min read

Roth conversions and backdoor Roths ease COVID financial pain for wealthy earners this tax season

COVID relief bill’s tax, cash benefits can apply to some wealthy clients

By Lynnley Browning 5 min read

It’s not just $1,400 checks. Here’s what advisors need to know about other financial perks in the massive stimulus package.

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Fitting CAS into your practice

A panel of experts share the best way to package, promote, deliver and bill for Client Accounting Services.

Biden signs American Rescue Plan into law, expanding tax credits

By Michael Cohn 8 min read

President Biden signed the American Rescue Plan Act into law Thursday, triggering the release of $1,400 Economic Impact Payments along with tax breaks for stimulating the economy.

AICPA testifies to Congress on extending PPP deadline

By Michael Cohn 7 min read

An American Institute of CPAs official told lawmakers Wednesday why the application timeline for the Paycheck Protection Program should be extended as small businesses continue to face obstacles getting loans.

What’s in the $1.9T stimulus bill Biden is about to sign

By Laura Davison 6 min read

The legislation includes a massive, one-year expansion to the child tax credit program aimed at curbing child poverty, a change Democrats are already seeking to make permanent.

What’s in the $1.9T stimulus bill passed by the Senate

By Laura Davison 5 min read

Senate Democrats passed the latest version of the $1.9 trillion stimulus bill after a more than 24-hour voting session that included the longest single vote in the chamber’s history.

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