The IRS has issued guidance (Notice 2021-11) to address how employers who elected to defer certain employees’ payroll taxes can withhold and pay the deferred taxes throughout 2021 instead of just the first four months of the year. Notice 2020-65 gave employers the option to defer certain employees’ Social Security taxes from Sept. 1, 2020, […]

U.S. Treasury Secretary nominee Janet Yellen reportedly said she would consider taxing unrealized capital gains — but billionaire investor Howard Marks said it’s not a practical plan and could hurt sentiment among investor. “I think that would hit sentiment. It would obviously make it less attractive to be an investor, all things being equal,” said […]

News Practice & Procedures By Alistair M. Nevius, J.D. After the recent enactment of the Consolidated Appropriations Act, 2021 (CAA 2021), P.L. 116-260, taxpayers who obtained loans under the Paycheck Protection Program (PPP) are also eligible to claim the employee retention credit (ERC) but need guidance on how the provisions interact. The AICPA on Friday […]

With many businesses ready to embrace the new year and a fresh start, now is the perfect time to organize and streamline your processes. Have you considered an efficient inventory reporting procedure? Are you in need of an inventory reporting 101? Below, we explore the basics of inventory reporting including what it is, how it […]

U.S. Treasury yields climbed on Tuesday morning, as traders watched for comments from Treasury Secretary nominee Janet Yellen, who is expected to speak in front of the Senate Finance Committee later in the day. The yield on the benchmark 10-year Treasury note rose to 1.11% at 3:40 a.m. ET, while the yield on the 30-year […]

A file photo dated September 29, 2019 shows Russian opposition leader Alexei Navalny during a rally in support of political prisoners in Prospekt Sakharova Street in Moscow, Russia. Alexei Navalny is unconscious in hospital after allegedly being poisoned according to his press secretary. Sefa Karacan | Anadolu Agency via Getty Images WASHINGTON – President-elect Joe […]

From April 2023 individuals who have income of more than £10,000 per year, including from property, and who complete a Self Assessment Tax Return will have to submit their accounts digitally to HMRC on a quarterly basis.  Whilst this seems a long way ahead now is the time to start thinking how you will manage […]

Small businesses could use a lot of help right now. They need to find new ways to improve efficiency, reduce costs, earn more sales, keep customers, and make every dollar count. Your accounting firm may also be one of those small businesses experiencing stagnant growth because so many are struggling. It’s time to break out […]

Several Democratic governors are criticizing the Trump administration for apparently misleading public health officials about holding a stockpile of Covid-19 vaccines in reserve. Health and Human Services Secretary Alex Azar said on Tuesday that the government would begin releasing doses of vaccine that were being held in “physical reserve” to ensure enough supply for second […]

Health and Human Services Secretary, Alex Azar at the White House on August 23, 2020 in Washington, DC. Pete Marovich | Getty Images Health and Human Services Secretary Alex Azar is resigning on Jan 20, the same day President-elect Joe Biden is sworn in. In his resignation letter dated Jan. 12, Azar took a parting […]