Huge backlogs and broken printers plague IRS, taxpayer advocate reports
By Katie Lobosco, CNN Washington (CNN) – The Internal Revenue Service still had more than 35 million tax returns to process at the end of this year’s filing season, a backlog four times bigger than at the end of the 2019 filing season. About 23 million of those returns were filed by individuals who may be waiting…
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Post-Covid: The Future of the Workplace – Panel Discussion hosted by Dent Moses
Dent Moses Managing Partner, Mike Baker, led a thoughtful and insightful conversation with Mitchell Greggs of Maynard Cooper and Joe Daniel of Streamline CXO about the current issues around returning to the workplace post-COVID.
Biden Administration Proposes Tax Initiatives
The Biden administration recently released a proposed budget for the fiscal year 2022, referred to as the “Green Book”. The budget includes a number of proposals for tax increases along with a series of increased or extended tax credit and incentive programs. Here is a list of some of the proposed changes:
Time to Revisit Paycheck Protection Program Forgiveness
If you have not applied for forgiveness, now is the time and the deadline may be fast approaching.
Meet Alabama’s Top Talent CPAs
Business Alabama Abbreviated Article- – By Erica Joiner West With federal and state tax deadlines looming, April is one of the busiest months for certified public accountants in the country. But the men and women who have the designation CPA after their names do more than just file paperwork with the Internal Revenue Service. Accountants…
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IRS Extends Individual Tax Deadline
On Wednesday, March 17, the IRS announced that the 2020 individual income tax filing deadline will be automatically extended from April 15, 2021, to May 17, 2021.
Biden Signs New $1.9 Trillion COVID Relief Legislation into Law
As you can imagine, the new $1.9 trillion COVID Relief Legislation covers a lot of ground. Here are the provisions that we believe will be of greatest interest to you:
Possible Changes on the Horizon for Retirement Savings
The Biden Administration is currently looking at making changes to the tax incentives of saving for retirement. Treasury Secretary Janet Yellen recently announced the Administration is considering a proposal to replace the dollar-for-dollar tax deduction with a 26% credit. More details can be found here. What does this mean for you? If you expect to…Read More
Unclaimed Property – Could Some Of It Be Yours?
We typically run this post every few years, and each time several people report finding funds held by the state. Also, we’re just happy to send something out that doesn’t involve COVID and the pandemic. Each year, unclaimed or abandoned assets are turned over to Alabama Unclaimed Property by financial institutions and businesses that lose…
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Filing Season Readiness Update
We’ve hit the ground running in 2021 on a variety of projects – namely PPP-1 loan forgiveness, PPP-2 loan applications, and Employee Retention Credit analysis. If you would like to learn more about what we are doing in these areas, please contact us. In the meantime, we have extended our work hours for filing season and…
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