IRS Issues Procedures for Employee Status Determinations
The IRS recently issued Rev. Proc. 2022-13 regarding employee status determinations under Sec. 7436.
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All Featured (46) For the Public (148) Tax News (439) Accounting & Auditing (212) Business & Industry News (125) Regulatory News (112) Legislative News (48) Chapter News (18) Young CPAs (62) Students (91) TSCPA Press Releases (68)Showing : 141–150 of 212
IRS Announces Freedom of Information Act Fee Increase
The IRS recently announced that starting Jan. 1, 2022, IRS Freedom of Information Act fees for search efforts, review efforts and duplication of records increased, regardless of requester category type.
View MoreOMB Issues New Guidance on Single Auditing for Pandemic Relief Programs
The Office of Management and Budget recently issued Addendum No. 1 to the 2021 Compliance Supplement, providing guidance for auditing funds received from the Coronavirus State and Local Fiscal Recovery Fund and an update to the Education Stabilization Fund program section.
View MoreReminder: Deferred Social Security Tax Payment Due Jan. 3 for Many Employers and Self-Employed
The IRS is reminding employers and self-employed individuals that chose to defer paying part of their 2020 Social Security tax obligation that a payment is due on Jan. 3, 2022.
View MoreStandard Mileage Rates to Increase in 2022
The IRS recently issued Notice 2022-03, which increases the rate by which taxpayers may compute their deductions for costs of using an automobile for business purposes for the 2022 tax year.
View MoreSBA Clarifies COVID-19 EIDL Application Deadlines
The U.S. Small Business Administration recently released updated guidance regarding applications for loans, advances and appeal requests with the COVID-19 Economic Injury Disaster Loans program.
View MoreIRS Provides Tax Inflation Adjustments for Tax Year 2022
The IRS recently announced the tax year 2022 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes.
View MoreIRS Issues Final Regulations on Qualified Improvement Property Under Sections 250 and 951
The IRS recently published final regulations regarding the calculation of qualified business asset investment for qualified improvement property under the alternative depreciation system under Sections 250 and 951.
View MoreTips for Working With First-Time Single Audit Clients
The U.S. has seen historic levels of federal funding in response to the COVID-19 pandemic. Various laws, including the CARES Act and the American Rescue Plan Act of 2021, have provided billions of dollars to American businesses, state and local governments, and not-for-profits. While this funding has provided relief, especially for nonprofits, it may cause complications for many recipients.
View MoreDepartment of Labor to Conduct Employee Benefit Plan Audit Quality Assessment of 2020 Plan Year Filings
The U.S. Department of Labor Employee Benefit Security Administration Office of the Chief Accountant recently announced it is planning to conduct a study of employee benefit plan audit quality based on 2020 filings of Form 5500, including calendar year 2020 filings filed on extension by Oct. 15, 2021.
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