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EDT 1 Min Read Facebook Twitter LinkedIn Email Andrew Harrer/Bloomberg Tax year 2026 and filing season 2027 are the target date for retiring the Filing Information Returns Electronic, or FIRE, system. The IRS is encouraging tax preparers to complete their IRIS applications to begin transitioning for the 2027 season.
We’re excited to announce that partnership tax has arrived in Xero Tax. You can now manage most of your clients’ tax needs – corporate, personal, and ordinary partnerships – in one simple, secure platform. Your practice can now gain all the benefits of Xero Tax across your ordinary partnership clients.
Whether this is your first payroll finalisation, or your hundredth, blast past your tax time stress by following our handy list of steps. In Xero Payroll, all active and terminated employees (who will be included in the STP finalisation for the financial year) will need an employment type, income type, and tax scale defined in their records.
3 to file various federal individual and business returns and make tax payments. 3 to file various federal individual and business returns and make tax payments. The current list of eligible localities is on the IRS Tax Relief in Disaster Situations page.) All rights reserved. 15, 2025. 31, 2025.
EDT 6 Min Read Facebook Twitter LinkedIn Email By any other name; poor Service; a saga continues; and other highlights of recent tax cases. Rockford, Illinois: Tax preparer Gretchen Alvarez, 49, has pleaded guilty to preparing and filing false income tax returns. The tax loss totaled $356,881. All rights reserved.
EDT 1 Min Read Facebook Twitter LinkedIn Email Daniel Leal-Olivas/AFP/Getty Images Deloitte Tax LLP has acquired certain assets of Trust Processing Solutions LLP, a boutique firm specializing in fiduciary trust services, based in Cincinnati. The Deloitte Tax ITG and former TPS employees will form a single team. All rights reserved.
EDT 5 Min Read Facebook Twitter LinkedIn Email Seeking shelter; please be Gentle; where the heart is; and other highlights of recent tax cases. Nixa, Missouri: Tax preparer Tina Louise Yager has pleaded guilty to making false and fictitious claims against the U.S. million in taxes on income he earned from his business.
EDT 5 Min Read Facebook Twitter LinkedIn Email Another Naughty list; a couple of sharks; Miami vice; and other highlights of recent tax cases. San Jose, California: Execs Lalo Valdez and Matthew Olson have pleaded guilty to not paying over employment taxes to the IRS. Olson caused a total tax loss to the IRS exceeding $2.1
EDT 4 Min Read Facebook Twitter LinkedIn Email Business owners who employ their children in a reasonable but limited capacity at their firms can rake in tax savings and start their kids first retirement accounts in the process. All rights reserved.
My firms compensation data, collected in 2024 and 2025, shows that accounting firms paid 7% more to bring in outside senior analysts in tax and audit than they paid internal staff in the same positions. Back when I was initially analyzing the data around the "loyalty tax," I posted a chart breaking down this trend on a Reddit thread.
However, navigating the tax landscape can be complex. However, navigating the tax landscape can be complex. CPAs play a crucial role in helping property owners maximize their profits through advanced tax strategies. This means that losses can be used to offset other types of income, reducing overall tax liability.
EDT 6 Min Read Facebook Twitter LinkedIn Email Bank job; the magic is gone; not a beautiful day in the Neighborhood; and other highlights of recent tax cases. CPA Timothy Trifilo has been sentenced to 20 months in prison for making a false statement on a mortgage loan application and for not filing an income tax return. .:
Intuit QuickBooks sample screen Michael Cohn Editor-in-chief, AccountingToday.com twitter mailto linkedin For reprint and licensing requests for this article, click here. All rights reserved. Technology Artificial intelligence Intuit MORE FROM ACCOUNTING TODAY Technology Does your app share client data?
EDT 3 Min Read Facebook Twitter LinkedIn Email Private equity in the profession; green cards and exit taxes; governance for preparers; and other highlights from our favorite tax bloggers. Tax Foundation ( [link] ): Illinois policymakers should think twice before taxing GILTI. Tax Review Board. All rights reserved.
EDT 1 Min Read Facebook Twitter LinkedIn Email Tax management platform Instead launched artificial intelligence-driven tax reports, harnessing AI to analyze full tax returns to glean tax strategies and missed opportunities. All rights reserved.
It’s part of Malaysia’s broader digital transformation strategy to promote transparency, reduce tax evasion, and improve the efficiency of financial processes. Consult with experts: If you’re unsure about how the initiative will impact your business, consider seeking advice from a tax advisor or accounting professional.
The firm will be fully integrating agentic AI into RSMs assurance, tax and consulting services; empowering RSM talent with agentic AI tools to heighten productivity and professional growth; and expanding agentic AI-driven solutions to elevate the overall client experience. All rights reserved.
The shift signifies growing apprehension across Main Street accounting firms serving as advisors on tax, payroll and compliance decisions amid a backdrop of historic tariff actions, continued inflation and unpredictable tax and trade policies. All rights reserved.
Michael Cohn Editor-in-chief, AccountingToday.com twitter mailto linkedin For reprint and licensing requests for this article, click here. By Chris Gaetano 2h ago Tax-related court cases Tax Fraud Blotter: Sick excuses By any other name; poor Service; a saga continues; and other highlights of recent tax cases.
You can read more about the program in my first article: Addressing the accounting talent shortage through hands-on education. Dan Luthi Partner, Ignite Spot Accounting Services For reprint and licensing requests for this article, click here. All rights reserved. By Editorial Staff June 5 Like what you see?
We must confront a critical question: If we continue to train accountants solely to file tax reports, are we truly equipping them for the challenges of todays world? Vinícius Alves de Melo CEO, Carlos Contábil For reprint and licensing requests for this article, click here. All rights reserved.
Vinícius Alves de Melo CEO, Carlos Contábil For reprint and licensing requests for this article, click here. By Paige Hagy July 9 Tax IRS FIRE's going out for 2027 tax season The Internal Revenue Service plans to shutter its Filing Information Returns Electronic, or FIRE, system. All rights reserved.
Paige Hagy Reporter twitter mailto linkedin For reprint and licensing requests for this article, click here. By Paige Hagy 8h ago Tax IRS updates procedures list for accounting changes Rev. All rights reserved. By Michael Cohn 2h ago Accounting Optimism declines among accountants U.S.
With this launch, were offering a smarter, faster alternative to legacy confirmation tools burdened by manual bank responses and long wait times, helping firms mitigate delays and reduce the risk of costly audit failures," said Cathy Rowe , Wolters Kluwer Tax & Accounting North Americas senior vice president for the U.S.
That’s why we have prepared some resources to guide you through a frictionless payroll year end, and be ready for the start of the 2023/24 tax year. Don’t forget, there’s also plenty of other resources including support articles , a 24/7 payroll specialist team and webinars you can access at any time!
EDT 1 Min Read Facebook Twitter LinkedIn Email Bloomberg via Getty Images Looking for "greater tax certainty" for large business and international taxpayers, the Internal Revenue Service has improved its Pre-Filing Agreement program. Jeff Stimpson Freelance writer For reprint and licensing requests for this article, click here.
Tipalti provides a suite of finance automation solutions for accounts payable, global payouts, procurement, employee expenses, corporate cards, supplier management and tax compliance. Chris Gaetano Technology Editor, Accounting Today linkedin For reprint and licensing requests for this article, click here. All rights reserved.
Tax professionals gear up for a mad dash, auditors dive into quarter-end chaos, while leadership scrambles to balance capacity with unpredictable workloads. But the once-effective model of heavy lifting during tax season followed by a revenue drought isnt just outdated — its increasingly unsustainable. All rights reserved.
Paige Hagy Reporter twitter mailto linkedin For reprint and licensing requests for this article, click here. By Paige Hagy 5h ago Tax The tax benefits — and complexities — for business owners hiring kids While the advantages to the parents often receive the most attention, a summer job could pay literal dividends to the children, experts say.
Accountants manage a high volume of sensitive information daily, covering everything from client tax details and payroll reports to audit documentation and financial disclosures. Without the right systems in place, even routine tasks like expense approvals or tax submissions can become time-consuming and error-prone.
EDT 1 Min Read Facebook Twitter LinkedIn Email Verito, an accounting-focused cloud and IT services provider, launched a new service offering designed to help tax and accounting practices actively build and maintain a Written Information Security Program, called VeritShield, versus working alone off a downloaded generic template.
Michael Cohn Editor-in-chief, AccountingToday.com twitter mailto linkedin For reprint and licensing requests for this article, click here. All rights reserved. IMAs Management Accounting Competency Framework outlines the skills required by the most common accounting and finance roles.
Michael Cohn Editor-in-chief, AccountingToday.com twitter mailto linkedin For reprint and licensing requests for this article, click here. By Chris Gaetano 11h ago Tax-related court cases Tax Fraud Blotter: Sick excuses By any other name; poor Service; a saga continues; and other highlights of recent tax cases.
Paige Hagy Reporter twitter mailto linkedin For reprint and licensing requests for this article, click here. By Daniel Hood 35m ago Technology Instead adds AI-driven tax reports The reports harness artificial intelligence to analyze full tax returns to glean tax strategies and missed opportunities. All rights reserved.
Chris Gaetano Technology Editor, Accounting Today linkedin For reprint and licensing requests for this article, click here. All rights reserved. The capabilities are available internally to KPMG professionals and are also available to deploy for clients. The next phase of AI will be defined by platforms that scale," said Steve Chase, U.S.
Chris Gaetano Technology Editor, Accounting Today linkedin For reprint and licensing requests for this article, click here. All rights reserved. By Chris Gaetano CloseText About Chris linkedin chris-gaetano-870989232/ June 25, 2025, 4:00 p.m. Xero has agreed to pay a break fee of $37.5
Paige Hagy Reporter twitter mailto linkedin For reprint and licensing requests for this article, click here. All rights reserved. The guide also includes amendments to previously issued implementation guidance related to ownership of an asset and governmental fund type definitions.
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. All rights reserved.
Michael Cohn Editor-in-chief, AccountingToday.com twitter mailto linkedin For reprint and licensing requests for this article, click here. All rights reserved.
Paige Hagy Reporter twitter mailto linkedin For reprint and licensing requests for this article, click here. By Chris Gaetano 4h ago Tax After 'successful' season, new IRS problems loom: TAS Cutbacks at the Internal Revenue Service portend difficult tax seasons ahead, Taxpayer Advocate Erin Collins reported to Congress.
Paige Hagy Reporter twitter mailto linkedin For reprint and licensing requests for this article, click here. By Michael Cohn 10h ago Tax-related court cases Tax Fraud Blotter: Prep perps Bank job; the magic is gone; not a beautiful day in the Neighborhood; and other highlights of recent tax cases. All rights reserved.
Minimum Corporate Tax Rate in Singapore 2025 As we approach 2025, small business owners in Singapore need to understand the implications of the minimum corporate tax rate and any updates in the tax landscape. This rate is stable, offering a consistent and predictable tax environment for businesses in Singapore.
Managing Taxes as a Freelancer or Self-Employed Managing your taxes as a freelancer or self-employed individual in Singapore might seem daunting at first, but with the right approach, it can be straightforward and manageable. Understanding Your Tax Obligations If youre self-employed or freelancing, youre responsible for your own taxes.
Paige Hagy Reporter twitter mailto linkedin For reprint and licensing requests for this article, click here. MORE FROM ACCOUNTING TODAY Tax Ryan advises clients on tariff issues The global tax services firm recently launched the Ryan Tariff Task Force to help clients deal with the complex interplay between taxes and tariffs.
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