The Internal Revenue Service’s Taxpayer Advocate Service helped thousands of taxpayers last year with economic impact payments under the CARES Act, but it took months to start addressing them, often with the wrong cases. A new report, released Monday by the Treasury Inspector General for Tax Administration, found that soon
Many small to mid-sized CPA firms are thinking about transitioning to consulting to stay relevant and profitable amidst the increasing changes to the industry. With audit and accounting margins decreasing due to competition and advances in technology threatening the industry, many firms are turning to management consulting services for an additional source
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Unlike other accounting software, Sage allows users to keep the data file on the cloud to work on the business data simultaneously. This feature helps improve the organization’s productivity and provides flexibility to work on business data as the data can be accessed from any location. We cannot also deny
QuickBooks is a well-built accounting and bookkeeping application that has been designed to cater to the needs of small and medium-sized business organizations. Yet, managing this program can get tricky at times when it encounters uninvited issues. This blog will talk about the QuickBooks error 15227, where the computer stops
A new Tax Court case, Tressler, TC Summary Opinion 2021-33, 9/13/21, shows that the way the settlement is worded can have a significant impact on taxability. Under Section 104(a)(2) of the tax code, and accompanying regulations, damages paid for personal physical injury or illness are specifically excluded from federal income
The Internal Revenue Service issued guidance Friday to assist employers who are rehiring retirees or retaining employees past retirement age as a way to find qualified workers in a tight labor market. The guidance comes in the form of two new frequently asked questions that it added to its web
Top 100 Firm Eide Bailly announced the winners of its 2021 Nonprofit Resourcefullness Awards, highlighting nonprofits across Arizona, Colorado, Minnesota, Nevada and North Dakota for their creativity regarding “sustainable revenue ideas.” Grand prize winners received $10,000, with one $5,000 honorable mention award going to the Cochise College Foundation in Arizona.
Happy employees are the foundation of a positive work culture, which helps create an atmosphere that fosters staff loyalty, success and productivity. Happy employees have increased job satisfaction leading to improved communication, teamwork and work-life balance. Learning to cultivate a positive work culture may seem challenging, but practicing a positive,
Many tax practitioners are challenged by what to tell their clients regarding the various tax provisions Congress is currently considering. We, of course, won’t have firm answers until the plan becomes law, but we can educate ourselves about the proposals in order to stay ahead of any major changes. In
