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IRS: Recent legislation requires tax exempt organizations to e-file forms
The Internal Revenue Service said today that the Taxpayer First Act, enacted July 1, requires tax exempt organizations to electronically file information returns and related forms. The new law affects tax exempt organizations in tax years...
6 Ways to Market Your Tax Preparation Services
Frequently, CPAs look down on marketing as being unprofessional or feel that they simply don’t have the time or resources to do it. But the truth of the matter is that marketing your tax return preparation practice is good business and isn’t as...
BEAT regs. are finalized, new regs. are proposed
The IRS on Monday issued detailed guidance on the Sec. 59A base-erosion and anti-abuse tax (BEAT), which was added to the Code by the law known as the Tax Cuts and Jobs Act, P.L. 115-97. Monday’s regulations (T.D. 9885) finalize proposed...
6 steps to a better busy season
Busy season can be the most lucrative time of year for many firms, but it can also be a stressful period that threatens to leave your team burned out by April. To avoid that, experienced CPAs share their thoughts on how implementing certain...
Final regulations confirm: Making large gifts now won’t harm estates after 2025
The Treasury Department and the Internal Revenue Service today issued final regulations confirming that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted...
What Revenue Ruling 2019-24 Means for Clients
It is important that accountants keep up with these efforts of the IRS with respect to bitcoin and other cryptocurrencies because keeping up will enable accountants to give the best possible counsel to their clients. Accountants need to...
What State is Next to Tax Remote Sales?
In the race to see which state will be next to do so, Florida seems to be edging ahead. Senate Bill 126 jumped over its first hurdle when the Senate Committee on Commerce and Tourism unanimously approved it on October 15, 2019. If the bill finds...