News
67 posts with this tag
Business Frame Weekly - AICPA Proposes Changes to Internal Revenue Code / IRS Processed 29% More Returns YoY / QuickBooks Business Network Now Live
The AICPA recently sent 61 proposals for changes to the Internal Revenue Code to Congress as part of the 2023 AICPA Compendium of Tax Legislative Proposals.
Business Frame Weekly - 2022 State Payments are Non-Taxable / Document Mgmt Inefficient at Accounting Firms / IRS Asked to Revamp Examination Function
The IRS confirmed on Friday that taxpayers in certain states will not have to report state general welfare or disaster relief payments or refunds in 2022 on their federal tax returns.
Business Frame Weekly - New Guidance for Quality Control Remediation / U.S. Recession Odds Down to 25% / AI Enhancements to TurboTax Live
A new staff report by the PCAOB offers advice to help audit firms remedy quality control criticisms cited in the inspection process.
Business Frame Weekly - FAF Announces Free Online Portal / Tax Break Proposal for Beauty Salon, Barber Tips / W-2 Statements Due by January 31
Financial accounting standards will be more widely accessible to the public after the Financial Accounting Foundation (FAF) revealed a free, enhanced online portal this week.
Business Frame Weekly - QuickBooks Business Network to Automate B2B Payments / Tax Season 2023 / 20% of U.S. Business Plan to Reduce Staff
Intuit QuickBooks Business Network to Accelerate and Automate B2B Payments for Millions of U.S. Businesses
Business Frame Weekly - 2023 Tax Filing to Start Jan 23 / Troubleshooting QuickBooks Opening Balances / Effective Big Corporation Tax Rate Fell to 9%
The average effective tax rate of profitable large corporations fell from 16% in 2014 to 9% in 2018 after passage of the Tax Cuts and Jobs Act of 2017, according to a report released last Friday by the Government Accountability Office.
Business Frame Weekly - $80 Billion IRS Funding Bill Reintroduced / IRS Issues 12 Million Refunds / Audits Drop Slightly in 2022
The Family and Small Business Taxpayer Protection Act was reintroduced on Monday in order to rescind the extra $80 billion funding for the IRS under the Inflation Reduction Act.
Business Frame Weekly - IRS Issues Interim Guidance / U.S. Holiday Retail Sales Up 7.6% / Congress Passes SECURE 2.0
According to the IRS, two notices provided interim guidance on the application of the Inflation Reduction Act’s corporate stock repurchase excise tax and the new corporate alternative minimum tax.
Business Frame Weekly - IRS $600 Threshold Rule Delayed / New York Salary Transparency Law Passed / PCAOB Proposes New Auditing Standard
According to recent guidance by the IRS, third-party settlement organizations will not be required to report tax year 2022 transactions on a Form 1099-K for the $600 threshold amount enacted as part of the American Rescue Plan of 2021.