The National Society of Accountants has sent a letter to Internal Revenue Service commissioner Charles Rettig and leaders of Congress’s main tax committees asking the IRS to speed up the refunds for 2019 and 2020 tax returns and communicate better. The group cited a recent op-ed by Rettig in the
The House on Friday passed a roughly $2 trillion bill incorporating the core of President Joe Biden’s economic agenda — ramping up funding for the social safety net and increasing taxes on corporations and the wealthy — sending it on to the Senate, where it’s likely to be significantly reshaped.
President Joe Biden’s signature plan to expand the social safety net, address climate change and rewrite tax policies passed the House Friday morning as Speaker Nancy Pelosi united fractious Democrats to send the legislation to the Senate, where its fate remains uncertain. The 220-213 vote followed months of intra-party squabbling.
Finance and accounting close solution provider BlackLine Inc. is expanding its collaboration with Microsoft by joining the software giant’s Business Application ISV Connect Program and creating a joint selling arrangement. Joining Microsoft’s independent software vendor program will help BlackLine create and market products to users of Microsoft’s Dynamics 365. “Microsoft
Too much for the man; just sign here; candid con; and other highlights of recent tax cases. Atlanta: Shanga A. Hankerson, 45, former owner of the Gladys Knight’s Chicken and Waffles restaurant in Atlanta and son of the music legend, has been sentenced to two years in prison for willful
The IRS deserves a raise. That’s a primary point in the 2021 Annual Report from the IRS Advisory Council. “The nation’s expectations for the IRS and duties imposed by Congress cannot be effectively and efficiently met without a significant investment in IRS staffing and training, and secure, flexible, and modern
Keeping your peeps; Better’s economic impact; new to us; and other highlights from our favorite tax bloggers. Tsunamis of change John R. Dundun II EA (http://johnrdundon.com/): Favorite headline of the week: “Partnerships and Income Tax – Staring into the Abyss of IRS Form 1065.” Mauled Again (http://mauledagain.blogspot.com/: Throughout most of
The Internal Revenue Service introduced an online tool Monday to help U.S. withholding agents comply with their reporting and withholding responsibilities for IRS Form 1042-S (Foreign Person’s U.S. Source Income Subject to Withholding). The tool does a quality review of data before it’s submitted to the IRS. The IRS noted,
Donor-advised funds increased their donations to charities last year in response to the COVID-19 pandemic, hitting the biggest levels in over a decade. Grants to charities around the world grew 27% in 2020 to $34.67 billion, according to an annual report released Tuesday by the National Philanthropic Trust. Contributions to
Cloud accounting software developer Xero Ltd. has acquired inventory management provider Locate Inventory for $19 million. Xero expects to use Locate’s talent, expertise and inventory-accounting workflows to enhance its inventory management solution, which it plans to launch first in the U.S., and then around the world. Its goal is to