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Federal Taxation

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Upcoming Events

IRS warns against charity scams

October 17, 2022

The Internal Revenue Service is partnering to fight fraud against charities, businesses and individuals during Charity Fraud Awareness Week.

  • forensic accounting and fraud
  • personal financial planning
  • federal tax

Understand the tax consequences of remote work

October 17, 2022

In a post-pandemic world, 16% of companies have gone fully remote. Many workers have embraced and adapted to this new setup.

  • coronavirus
  • state tax
  • federal tax

Paul Iannone and Danny Pannese write Tax Advisor magazine cover story: 10 good reasons why LLCs should not elect to be S corporations

October 06, 2022

Paul N. Iannone, CPA, J.D., MST, and Danny A. Pannese, CPA/ABV/CFF, CVA, CSEP, MST, both associate professors in the Jack Welch College of Business & Technology at Sacred Heart University in Fairfield, wrote the Tax Advisor magazine cover story: 10 good reasons why LLCs should not elect to be S corporations.

  • accounting and auditing
  • business and industry
  • member news
  • federal tax

R&D credit claim transition period extended

October 03, 2022

The IRS extended for another year, until Jan. 10, 2024, the transition period during which it will allow taxpayers 45 days to perfect a refund claim involving a Sec. 41 research and development (R&D) credit to comply with new information requirements.

  • federal tax

IRS: Hurricane Ian victims in Florida qualify for tax relief; Oct. 17 deadline, other dates extended to Feb. 15

September 29, 2022

Hurricane Ian victims throughout Florida now have until February 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

  • federal tax

IRS distributed most Child Tax Credit payments correctly, but millions missed out

September 28, 2022

The Internal Revenue Service sent out the vast majority of advance payments of the Child Tax Credit last year to eligible families, alleviating poverty, according to a new report, but millions of taxpayers who should have received the payments did not, while millions of others who didn't qualify received them instead.

  • personal financial planning
  • federal tax

IRS updates Information on tax credit helping businesses to hire certain categories of workers

September 19, 2022

The IRS today updated information on the Work Opportunity Tax Credit (WOTC), available to employers that hire designated categories of workers who face significant barriers to employment. For employers facing a tight job market, the WOTC may be able to help.

  • business and industry
  • practice management
  • federal tax

IRS's extra enforcement funding brings audit worries

September 14, 2022

The additional $80 billion in funding over the next decade for the Internal Revenue Service from the Inflation Reduction Act is supposed to go toward improving taxpayer service, modernizing the IRS's outdated technology, increasing enforcement efforts, and hiring more staff to process tax returns and replace retiring employees, but many taxpayers are concerned the funds will lead to more audits.

  • federal tax

2022 tax planning after the Inflation Reduction Act

September 12, 2022

The Inflation Reduction Act extended many green energy and energy efficiency tax breaks already in the Tax Code and created a number of new tax breaks as well. The legislation also imposes a number of new requirements to obtain the largest possible tax break, such as requirements to pay prevailing wages and offer apprenticeship programs, requirements to use domestic content, and requirements to operate in low-income or otherwise distressed communities.

  • federal tax

IRS delays in processing NOL refund claims costing taxpayers millions in interest

September 12, 2022

The Internal Revenue Service's continuing backlog is having an impact in many areas, including the processing of noncorporate applications for refund claims on net operating losses by pass-through businesses, leading to millions of dollars in interest payments.

  • federal tax

Surgent's Student Loan Repayment and Forgiveness: Analysis and Impact on Individuals and Employers

Oct 25th 10:00am - 12:00pm

Online

2.00 Credits

For student loan borrowers, the new Student Debt Relief Program announced by President Biden is an excellent opportunity to reduce their debt. There is a growing need for better tax planning advice from tax practitioners since the IRS and Department of Education are automating this information process starting in mid-2023. This automation will impact both FAFSA and the Income-Driven Repayment (IDR) methods. IDR usage has increased by 75% since 2016 and is also required to be used for many of the loan forgiveness programs.According to a recent survey, the new Student Loan Assistance Benefit is ranked as the third most demanded benefit for employees under age 35.  With the new tax-free student loan reimbursement and in anticipation of SECURE 2.0, employers will be seeking advice on properly implementing these unique employee benefits. This program will cover the impact on both the employee and the employer. We will also explain why this benefit needs to look at the household income and the need for tax filing advice.  Student loan repayment and forgiveness will impact a large segment of the population. It is estimated that 70% of the educated workforce will have student loans. Employers and employees will soon be looking for expert advice on both its general and tax implications. Don’t miss this opportunity to serve as a critical resource for friends, family, and clients and enhance your bottom line in the process.

New Rules for Research and Experimentation Deduction (Section 174) - What the CPA Needs to Know NOW!!!

Oct 27th 1:00pm - 2:00pm

Online

1.00 Credits

This program addresses the most recent developments impacting taxpayers incurring research and experimentation costs.  Emphasis will be placed on compliance with the 2022 change in Sec. 174 Amortization of research and experimental expenditures.

Surgent's Student Loan Repayment and Forgiveness: Analysis and Impact on Individuals and Employers

Nov 8th 10:00am - 12:00pm

Online

2.00 Credits

For student loan borrowers, the new Student Debt Relief Program announced by President Biden is an excellent opportunity to reduce their debt. There is a growing need for better tax planning advice from tax practitioners since the IRS and Department of Education are automating this information process starting in mid-2023. This automation will impact both FAFSA and the Income-Driven Repayment (IDR) methods. IDR usage has increased by 75% since 2016 and is also required to be used for many of the loan forgiveness programs.According to a recent survey, the new Student Loan Assistance Benefit is ranked as the third most demanded benefit for employees under age 35.  With the new tax-free student loan reimbursement and in anticipation of SECURE 2.0, employers will be seeking advice on properly implementing these unique employee benefits. This program will cover the impact on both the employee and the employer. We will also explain why this benefit needs to look at the household income and the need for tax filing advice.  Student loan repayment and forgiveness will impact a large segment of the population. It is estimated that 70% of the educated workforce will have student loans. Employers and employees will soon be looking for expert advice on both its general and tax implications. Don’t miss this opportunity to serve as a critical resource for friends, family, and clients and enhance your bottom line in the process.

New Rules for Research and Experimentation Deduction (Section 174) - What the CPA Needs to Know NOW!!!

Nov 9th 9:00am - 10:00am

Online

1.00 Credits

This program addresses the most recent developments impacting taxpayers incurring research and experimentation costs.  Emphasis will be placed on compliance with the 2022 change in Sec. 174 Amortization of research and experimental expenditures.

New Rules for Research and Experimentation Deduction (Section 174) - What the CPA Needs to Know NOW!!!

Nov 22nd 12:00pm - 1:00pm

Online

1.00 Credits

This program addresses the most recent developments impacting taxpayers incurring research and experimentation costs.  Emphasis will be placed on compliance with the 2022 change in Sec. 174 Amortization of research and experimental expenditures.

Surgent's Student Loan Repayment and Forgiveness: Analysis and Impact on Individuals and Employers

Nov 29th 10:00am - 12:00pm

Online

2.00 Credits

For student loan borrowers, the new Student Debt Relief Program announced by President Biden is an excellent opportunity to reduce their debt. There is a growing need for better tax planning advice from tax practitioners since the IRS and Department of Education are automating this information process starting in mid-2023. This automation will impact both FAFSA and the Income-Driven Repayment (IDR) methods. IDR usage has increased by 75% since 2016 and is also required to be used for many of the loan forgiveness programs.According to a recent survey, the new Student Loan Assistance Benefit is ranked as the third most demanded benefit for employees under age 35.  With the new tax-free student loan reimbursement and in anticipation of SECURE 2.0, employers will be seeking advice on properly implementing these unique employee benefits. This program will cover the impact on both the employee and the employer. We will also explain why this benefit needs to look at the household income and the need for tax filing advice.  Student loan repayment and forgiveness will impact a large segment of the population. It is estimated that 70% of the educated workforce will have student loans. Employers and employees will soon be looking for expert advice on both its general and tax implications. Don’t miss this opportunity to serve as a critical resource for friends, family, and clients and enhance your bottom line in the process.

Featured

Federal Tax Conference

Nov 30th 8:25am - 4:35pm

Rocky Hill

8.00 Credits

*IMPORTANT:  This is the in-person option for the Federal Tax Conference While we are planning for all speakers to attend in person, due to the uncertainty of today's environment and varying company policies, some speakers may need to appear via livestream if circumstances necessitate it. Attend this can't-miss event for just-in-time updates, legislative news, and information from IRS officials.

Featured

VIRTUAL - Federal Tax Conference

Nov 30th 8:25am - 4:35pm

Online

8.00 Credits

*IMPORTANT:  This is the virtual option for the Federal Tax Conference While we are planning for all speakers to attend in person, due to the uncertainty of today's environment and varying company policies, some speakers may need to appear via livestream if circumstances necessitate it. Attend this can't-miss event for just-in-time updates, legislative news, and information from IRS officials.

New Rules for Research and Experimentation Deduction (Section 174) - What the CPA Needs to Know NOW!!!

Dec 9th 9:00am - 10:00am

Online

1.00 Credits

This program addresses the most recent developments impacting taxpayers incurring research and experimentation costs.  Emphasis will be placed on compliance with the 2022 change in Sec. 174 Amortization of research and experimental expenditures.

Surgent's Student Loan Repayment and Forgiveness: Analysis and Impact on Individuals and Employers

Dec 14th 2:00pm - 4:00pm

Online

2.00 Credits

For student loan borrowers, the new Student Debt Relief Program announced by President Biden is an excellent opportunity to reduce their debt. There is a growing need for better tax planning advice from tax practitioners since the IRS and Department of Education are automating this information process starting in mid-2023. This automation will impact both FAFSA and the Income-Driven Repayment (IDR) methods. IDR usage has increased by 75% since 2016 and is also required to be used for many of the loan forgiveness programs.According to a recent survey, the new Student Loan Assistance Benefit is ranked as the third most demanded benefit for employees under age 35.  With the new tax-free student loan reimbursement and in anticipation of SECURE 2.0, employers will be seeking advice on properly implementing these unique employee benefits. This program will cover the impact on both the employee and the employer. We will also explain why this benefit needs to look at the household income and the need for tax filing advice.  Student loan repayment and forgiveness will impact a large segment of the population. It is estimated that 70% of the educated workforce will have student loans. Employers and employees will soon be looking for expert advice on both its general and tax implications. Don’t miss this opportunity to serve as a critical resource for friends, family, and clients and enhance your bottom line in the process.

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