The Internal Revenue Service said Friday it will be rolling out the ability to electronically file the new Schedules K-2 and K-3 next year, but not at the beginning of the filing season. Schedules K-2 (Partners’ Distributive Share Items — International) and K-3 (Partner’s Share of Income, Deductions, Credits, etc.
Congress is headed in the right direction. Delaying Section 174 research and development amortization until 2025, as provided in the Build Back Better Act approved by the House on Nov. 19, 2021, helps but full repeal of R&D amortization — before the provision goes into effect, whether 2022 or 2025
Pharma fraud; foreign affairs; spreading the scheme around; and other highlights of recent tax cases. Union City, New Jersey: Former pharmacy co-owner Igor Fleyshmakher, of Holmdel, New Jersey, has been sentenced to 41 months in prison for a scheme to bribe health care professionals and for evading taxes on $33.9
The Internal Revenue Service is extending the ability to electronically sign a number of different tax forms and compliance documents through the end of October 2023. In Memos NHQ-10-1121-0005 and NHQ-01-1121-0004, the IRS is extending the capability, which it had introduced during the pandemic so taxpayers wouldn’t need to visit
12 pricier days; tax preparers’ own year-end moves; state taxes galore; and other highlights from our favorite tax bloggers. Everybody’s busy season Come what may Sagenext (https://www.thesagenext.com/blog): A rundown of the year’s reforms. Palm Beach Accounting and Financial Services (https://www.pbafs.com/blog): If you’re like us and are a parent who never
Marcum LLP, a Top 20 Firm based in New York, released its 2021 Year-End Tax Guide on Monday, providing a wide range of tax-planning strategies and considerations for next year. The 71-page report contains over two dozen articles and reference tables spotlighting recent changes in tax laws and the potential
Bouncy bouncy; PPP penalty; doughnut try this at home; and other highlights of recent tax cases. Orem, Utah: Resident Louis Hansen has been sentenced to 51 months in prison for tax evasion and corruptly endeavoring to obstruct the IRS. In March 2012, Hansen gave the IRS a $342,669.41 check that
Amber Goering The Kansas Society of CPAs elected its 2021-22 officers, directors and trustees, appointing: Amber Goering, owner, Goering & Granatino, as chair of the board; Joe Ronnebaum, PwC, as vice chair; and Norman Hope, McPherson College, as secretary/treasurer. KSCPA also elected to three-year terms on the board of directors:
The Internal Revenue Service released an advance copy of a set of proposed regulations that can help taxpayers, employers and insurers navigate the complex tax rules surrounding COVID-19 testing and health insurance coverage. REG-109128-21 includes proposed regulations saying that “minimum essential coverage,” as that term is used in health insurance-related
Warren Averett became the latest accounting firm to receive capital from a private equity or investment firm, but in this case the money will go to the firm’s asset management subsidiary, which hopes to make future deals with other CPA firms to acquire their wealth management practices. Warren Averett CPAs
