Accounting Today

JUNE 20, 2025

Penalties on payroll and excise tax deposits due on or after March 14 and before April 10 in Mississippi will be abated as long as the tax deposits were made by April 10. In Texas, penalties on payroll and excise tax deposits due on or after March 26 and before April 10 will be abated as long as the tax deposits were made by April 10.

Tax 235

Tax Deposits Corporation Tax Auditing 235

Accounting Today

JUNE 25, 2025

The service received nearly 141 million individual income tax returns and processed about 138 million this tax season, according to the National Taxpayer Service "Objectives Report to Congress" for Fiscal 2026. Refunds averaged $2,942; slightly more than 81 million refunds were issued via direct deposit.

Corporation Tax 267

Corporation Tax Auditing Tax XERO 267

Accounting Today

JULY 15, 2025

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.

Tax 272

Tax Corporation Tax Auditing Accounting Software 272

Nanonets

JUNE 15, 2023

This could explain the high growth of the accounting software industry, estimated to reach $12 billion by 2026. Accounting automation solutions can handle tasks like depositing funds, calculating pay, syncing with time-tracking software, and managing payroll taxes.

Purchase Order 52

Purchase Order Accounting Accounting AR 52

Accounting Today

JULY 3, 2025

She deposited the refund check into a trust bank account and immediately transferred most of the balance to a separate bank account, both of which she controlled. She and her co-conspirator deposited a second fraudulently obtained $1 million refund check from the IRS, payable to the co-conspirator.

Tax 162

Tax Deposits Corporation Tax Auditing 162

Counto

MARCH 12, 2025

Updates to CPF Wage Ceiling (2025) Date OW Ceiling Before Sep 2023 $6,000 1 Sep 2023 $6,300 1 Jan 2024 $6,800 1 Jan 2025 $7,400 1 Jan 2026 $8,000 These increases mean that payroll systems must automatically account for CPF ceiling changes to ensure compliance. From calculations to tax deposits, our in-house team handles everything.

Payroll 52

Payroll Deposits Tax Accounting 52

Counto

APRIL 13, 2025

Bonuses and Additional Wages Record all year-end bonuses, including Annual Wage Supplement (AWS) Confirm payment dates bonuses paid after 31 Dec 2024 fall into YA 2026 Ensure CPF is applied correctly Additional Wages are subject to a separate CPF ceiling Reconcile year-to-date bonus payments to avoid excess or missed CPF 2.

Payroll 52

Payroll Reconciling Deposits Computation 52