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AICPA to Congress: Delay needed in BOI reporting deadline

by usoftax_admin | Nov 23, 2024 | Tax News

Without a delay, “millions of small business owners become accidentally and unknowingly delinquent in their compliance,” reads the letter, signed by CEO Barry Melancon, CPA, CGMA.

At ERISA’s 50th anniversary, a legacy of IRS-practitioner collaboration

by usoftax_admin | Nov 23, 2024 | Tax News

The historic legislation’s enabling of growth and development of qualified retirement plans also launched a new era of public-private cooperation in tax and employee benefits.

Taxpayer advocate: Unprocessed ERC claims could total 1 million at year end

by usoftax_admin | Nov 23, 2024 | Tax News

National Taxpayer Advocate Erin Collins told the AICPA & CIMA National Tax Conference that the number of unprocessed employee retention credit claims will grow before the final filing deadline in April.

BOI update: 6.5 million of 32 million reports filed so far

by usoftax_admin | Nov 23, 2024 | Tax News

FinCEN official says the reports “track more closely” with businesses created in 2024, which have a tighter deadline to file than businesses created earlier.

CRFB leader: Tax policy may not be a Trump administration high priority

by usoftax_admin | Nov 23, 2024 | Tax News

The head of the nonpartisan Committee for a Responsible Federal Budget told the AICPA & CIMA National Tax Conference that extending the Tax Cuts and Jobs Act would add $5 trillion to the national debt.

Final regs. modernize process for sale of taxpayers’ property

by usoftax_admin | Nov 23, 2024 | Tax News

The regulations under Sec. 6335, which had not changed substantially since they were first issued in 1954, did not reflect modern electronic methods of submitting bids and accepting payment from bidders.
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