The Internal Revenue Service posted information about how to correctly compute the new exclusion on a portion of unemployment income as Congress pushes the IRS for further tax-filing relief.
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March 16, 2021
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IRS offers guidance on unemployment benefits exclusion
By Michael Cohn      5 min read
The Internal Revenue Service posted information about how to correctly compute the new exclusion on a portion of unemployment income as Congress pushes the IRS for further tax-filing relief.
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IRS failed to collect $2.4B in taxes from millionaires
By Laura Davison     2 min read
Auditors were only able to recoup about 39 percent of the more than $4 billion in unpaid taxes owed by a group of rich taxpayers with an average annual income of nearly $1.6 million.
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Canopy updates practice management for 2021 tax season
By Ranica Arrowsmith     2 min read
The new features help users see a high-level view of all billable work and services while having the ability to view all work emails in one interface.
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Lawmakers introduce bill to extend PPP through May 31
By Michael Cohn     8 min read
Members of Congress are proposing bipartisan legislation to extend the deadline for Paycheck Protection Program loans another two months as accountants press for more time on the expiring program.
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How a strong firm culture keeps CPAs focused in difficult times
By Carla McCall     5 min read
Building the right balance for staff and clients calls for a three-phase approach: create a safe space, apply lessons learned, and map a vision for the future.
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Ex-UBS banker tells judge he doesn’t ‘cultivate memories at UBS’
By Gaspard Sebag     2 min read
A former UBS Group AG executive who is trying to reverse a conviction at a landmark tax trial couldn’t remember the assets managed by his team focusing on French clients out of Switzerland.
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Art of Accounting: The Ides of March
By Edward Mendlowitz     3 min read
March 15 is a busy date. The S corporation and partnership returns are due then, so the K-1s can be distributed timely.
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Tax hikes on rich loom if Treasury revives hard look at estates
By Allyson Versprille     4 min read
Estate planners are keeping a close eye on the department’s agenda, anticipating the possible revival of several regulatory projects shelved by the Trump administration.
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Biden eyes first major tax hike since 1993
By Nancy Cook and Laura Davison     6 min read
President Joe Biden is looking at higher taxes to help pay for a long-term economic program designed as a follow-up to his pandemic-relief bill.
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Tiered huddles help firms manage busy season
By Kyle Walters     5 min read
By becoming a learning organization, your team can learn to solve their own problems and free you up to focus on clients and big-picture initiatives.
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