By Roby B. Sawyers, CPA, Ph.D.November 1, 2018 Editor: Heidi A. Ridgeway, CPA Tax issues are the most common source of malpractice claims against CPA firms, accounting for 72% of total claims in 2016, according to CNA Financial Corporation, the carrier for the AICPA’s professional liability insurance program. Common reasons for those claims often include […]

Questions to Ask When Hiring A CPA | Over the last few weeks I have been asked more and more frequently about hiring a CPA. After working with many tax professionals over the last year ranging from a guy who resulted in me owing the IRS $3,000 for money he claimed fraudulently and had paid

(CNN) – The Internal Revenue Service is on track to start sending stimulus-enhanced child tax credits to millions of families in July, the agency’s head said Tuesday. The upbeat prediction from IRS Commissioner Charles Rettig was a notable change from his more hesitant assessment last month, when he told a House subcommittee that the agency might not

The U.S. Treasury Department and the IRS announced on March 17, 2021 that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021 to May 17, 2021. The federal tax filing deadline postponement to May 17, 2021 only applies to individual federal income tax returns

The IRS plans to automatically process refunds for taxpayers who had unemployment income in 2020 and filed their tax returns before legislation passed that made those benefits tax-free. The American Rescue Plan, which was signed into law by President Joe Biden on March 11, made the first $10,200 of unemployment income tax-free for people with adjusted gross

The IRS announced on Wednesday that it is postponing the deadline for all individual tax returns. Returns otherwise due April 15 will not have to be filed until May 17 this year. The IRS says it will issue formal guidance in the near future. The postponement applies only to individual taxpayers, who can postpone their