Outsourcing? Increasing profitability is a crucial part of growing and sustaining a business. What is the saddest truth about the accounting profession? Many people believe that saving taxes is part of their job when the truth is that none of...

If you have complicated taxes or just hate doing your own taxes, finding a good CPA can be of great help and a lot of stress relief. A good CPA can ensure you get all the points you qualify for...

In accounting, the peak season is a stressful time of year, but there are things you and your employees can do to ease the stress of tax season. The pace can be hectic, but it's also a good time to...

New Markets Tax Credit (NMTC) COVID-19 Tax Relief in New Markets Tax Credit Transactions; The Internal Revenue Service (IRS) and the U.S. Department of the Treasury provide tax relief to investors, taxpayers and businesses for new markets tax credit transactions….

June 15 Tax Deadline Postponed; Tax deadline postponed for taxpayers who live and work abroad; The Internal Revenue Service (IRS) reminded people who live and work abroad that their tax deadline has been postponed. As per the details, tax deadline…

Safe Harbor for Renewable Energy Projects; The Internal Revenue Service (IRS) and the U.S. Department of the Treasury announced relief for those taxpayers who are involved in developing renewable energy projects in any part of the United States. As per…

Final Regulations for Tax-Exempt Organizations to Provide Relief; The Internal Revenue Service (IRS) and the U.S. Department of the Treasury issued final regulations for tax-exempt organizations to provide relief. The final regulations (PDF) issued by the government agencies clarify that the…

IRS Cafeteria Plans Tax Relief through Increased Flexibility in Section 125; The Internal Revenue Service (IRS) allows temporary changes to section 125 cafeteria plans that provides guidance on increased flexibility for taxpayers. According to the changes, the claims period for…

IRS New Regulations on Income Tax; The Internal Revenue Service (IRS) and the U.S. Department of the Treasury issued new guidance for Income Tax Withholding for retirement and annuity payments. As per the details, the proposed regulation provides update regarding…

IRS Settlement Days program to resolve tax disputes during COVID-19 pandemic; The Internal Revenue Service Office of Chief Counsel announces that the IRS retools Settlement Days program in response to Coronavirus pandemic in order to allow unrepresented taxpayers for settlement…