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Sovos ( [link] ): The IRS will decommission the Filing Information Returns Electronically system in January 2027; all 2026 returns will need to use the new IRS Information Returns Intake System. The window for preparation is closing fast.
By Chris Gaetano June 20 Audit Senate Parliamentarian rejects PCAOB provision in tax bill The provision would have eliminated the Public Company Accounting Oversight Board and transferred its responsibilities to the Securities and Exchange Commission. For individual taxpayers, this means Oct.
EDT 10 Min Read Facebook Twitter LinkedIn Email President Donald Trump displays the signed bill during a ceremony for the One Big Beautiful Bill Act on the South Lawn of the White House in Washington, D.C Any college with an enrollment of less than 3,000 is excluded, but anything larger than that, the rates go from 1.4%
Medicaid funding would also count, and substantial cuts are expected under the tax bill now being considered in Congress "Medicaid funding in particular is a really big part of state budgets, so the potential for them to be substantial at a state level at least exists and warrants consideration," said Black. Thats a big one," said Black.
The Acknowledgement of Fact Information Document Request process will be eliminated by 2026 due to concerns over limited value and extended timelines. Throughout implementation of these changes in 2025 and 2026, feedback can be sent to LBI.Policy.Feedback@irs.gov. Through this year, taxpayers can choose whether to use AOF.
Get yourself ready Institute on Taxation and Economic Policy ( [link] ): How much do the top 1% in each state get from the Senate tax bill? Tax Vox ( [link] ): How the Senate bill is even more regressive than the Finance Panels version. Josh Stein signed into law a bill that adds an additional pathway to CPA licensure, effective Jan.
EDT 2 Min Read Facebook Twitter LinkedIn Email fotolia As the Trump administrations One Big Beautiful Bill heads into the final stages of the legislative process, finance leaders are split in their assessment of the potential effects on their companies. By Paige Hagy 7h ago Like what you see?
Boyum & Barenscheer ( [link] ): The latest tax developments on 529s, especially given the One Big Beautiful Bill Act. 31, 2026, deadline for recognizing those deferred gains is only some 17 months away. Tax Vox ( [link] ): Some taxpayers will be able to deduct gratuities received this year.
By Jeff Stimpson 7h ago Tax CFOs split on impact of Trump tax bill Tariffs and the impact of government debt on the economy remain major concerns, according to a Grant Thornton survey. By Roger Russell 7h ago Accounting North Carolina signs licensure changes bill into law North Carolina Gov.
Samuel Corum/Bloomberg The Internal Revenue Service wont adjust current income-tax withholding levels for workers and employers to account for President Donald Trumps new tax law, delaying savings from retroactive cuts for most taxpayers.
2, 2026, to file returns and pay any taxes that were originally due during this period. 15, 2026; Quarterly payroll and excise tax returns normally due on July 31, Oct. 31, 2026; Calendar-year partnerships and S corps whose 2024 extensions run out on Sept. Affected individuals and businesses have until Feb. 15, 2025, and Jan.
with the bill limiting how much students and their parents can borrow for college from the government. The bill proposes changes to repayment programs which may make them less appealing to borrowers and lead them to refinance their debt through private lenders. government. By Paige Hagy 7h ago Like what you see?
Chip Roy speaks to the media about the "One, Big, Beautiful Bill" at the U.S. The presidents ambitious timeline to pass the bill is encountering considerable opposition as moderate and ultraconservative Republican lawmakers threaten to defy him and perhaps frustrate his domestic agenda. Andy Harris accompanied by Rep.
EDT 5 Min Read Facebook Twitter LinkedIn Email President Donald Trump displays the signed bill during a ceremony for the One Big Beautiful Bill Act on the South Lawn of the White House in Washington, D.C Some 61% of Americans oppose the legislation, while only 39% support it, according to a new CNN/SSRS poll released Wednesday.
Their co-managing roles are scheduled to last a year, with Andrews assuming the managing partner role on July 1, 2026, and becoming the first female and first non-Plung family member in that position in the firms 104-year history. Pittsburgh. Josh Shapiros signature. By Paige Hagy 2h ago Technology Does your app share client data?
That’s where the best accountingsoftware for CPAs and accounting firms comes into play. Customer management software enables businesses to organize and track customer information, deadlines, and conversations, resulting in more efficient interactions and improved client satisfaction.
In a survey, 58% of accountants said automated accounting led to increased efficiency. US accounting services show that nearly 75% of accounting tasks can be automated. This could explain the high growth of the accountingsoftware industry, estimated to reach $12 billion by 2026.
Trial on the remaining counts will be in 2026. By Danielle Lee July 3 Tax Congress passes Trump tax bill House Republicans passed the wide-ranging Trump tax legislation dubbed the One Big Beautiful Bill Act, overcoming resistance from a group of GOP holdouts and united opposition from Democrats.
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