IRS offers penalty relief to late filers, refunding $1.2B
Accounting Today
Accounting Today, an Arizent brand, is the independent news and information resource for tax and accounting professional
The IRS is providing relief to most individual and business taxpayers who filed their 2019 or 2020 returns late due to the pandemic, and more of today’s top stories.
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The service is going further to help the taxpayers who have already paid the penalties by refunding them with automatic payments that are expected to be completed by the end of September.
In other news today:
The Illinois CPA Society's annual summit highlighted the biggest concerns confronting the profession.
The agency has become a target of GOP lawmakers in recent weeks after President Biden signed a new spending law with funding for tax enforcement, technology upgrades and taxpayer service.
Most accountants sooner or later need to have awkward conversations with clients about overdue bills or work that goes beyond the scope of their services, but putting off those conversations can mean they never collect those extra fees.
A disgruntled former IT audit manager at BDO USA in Atlanta was arrested by authorities after allegedly murdering her former supervisor.
Most studies showing "tax alpha" through tax-loss harvesting assume investors are already rich, taxed in the highest brackets and flush with short-term capital gains.
Finance Manager
2yI’d like to know how the Pro-PPP loan relief, anti Student Loan debt reduction, flocks feel about this?