The Internal Revenue Service has issued FAQs regarding the reinstated Superfund chemical excise tax, detailing what the tax is, how it’s computed and who may be liable. The Superfund chemical taxes are reported on Form 720, “Quarterly Federal Excise Tax Return” and Form 6627, “Environmental Taxes”. The excise taxes imposed on
Lack of Faith; concerted and conscious; Pipe schemes; and other highlights of recent tax cases. Galloway, New Jersey: Tax preparer Michele Griffin, 42, has been sentenced to a year and a day in prison for using false information to inflate clients’ refunds and filing her own false returns. Griffin, who
President Joe Biden called on Congress to suspend the federal gasoline tax, a largely symbolic move by an embattled president running out of options to ease pump prices weighing on Democrats’ political prospects. “By suspending the 18-cent federal gas tax for the next 90 days, we can bring down the
Partners’ pay as a retention tool; volunteering to file; the global tax debate; and other highlights from our favorite tax bloggers. The best policy Rosenberg Associates (https://rosenbergassoc.com/blog/): Here’s a thorny one: Should partners cut their comp to pay staff better? Solutions for CPA Firm Leaders (http://ritakeller.com/blog/): Recruiting is one thing,
There are many financial professionals who call themselves financial planners. Everyone from insurance salespeople, investment brokers and managers or CPAs who dabble with planning call themselves financial planners. For better or worse, all of the aforementioned professionals have helped to shape our clients’ minds and expectations of financial professionals. And
Recently, our own Chris Gaetano wrote a very well-done piece (The Frontier: For efficiency to live, email must die) interviewing a number of thought leaders, all in the Accounting Today Top 100, on email. The consensus was that email was a pain and was greatly disliked, distracting, despised, frustrating, and
The Internal Revenue Service, facing criticism over long hold times and disconnects when taxpayers try to reach its offices, is adding more options for callers to reach automated voice bots that can respond to their requests sooner. IRS officials said Friday they have now added assistance for eligible taxpayers to
EisnerAmper, a Top 20 Firm based in New York, is adding Raich Ende Malter & Co. a Top 80 Firm, also based in the city, with the deal expected to close this summer. REM dates back to 1972 and has 200 professionals and 45 partners and principals, with offices in
Rep. Don Beyer, D-Virginia, introduced a bill to impose a 1,000% excise tax on manufacturers, importers or producers of assault weapons and high-capacity magazines in the wake of a string of mass shootings across the country. The Assault Weapons Excise Act, introduced Tuesday in the House, faces steep odds of
With National Small Business Week over, now is a good time to look at how business owners appear on their personal tax returns, suggests tax attorney Barbara Weltman, author of “Small Business Taxes 2022.” Every year, the Internal Revenue Service tabulates different categories of data from tax returns, and publishes
