Industry News: Do you know why the IRS created the position of Chief Taxpayer Experience Officer?

IRS Creates New Position: Chief Taxpayer Experience Officer



The position will work with business units and offices across the IRS, including Chief Counsel, the Independent Office of Appeals and the National Taxpayer Advocate. The role is envisioned as working in coordination with the National Taxpayer Advocate...

Industry News: 2021 Outlook from Bloomberg Tax & Accounting Explores Top Issues for 2021

2021 Outlook from Bloomberg Tax & Accounting Explores Top Issues for 2021

Bloomberg Tax & Accounting has announced the availability of its 2021 Outlook on Tax, a 50-plus page collection of news and insights from practitioners that focuses on the key federal, state, and international tax issues.

Industry News: COVID Tax Credit Extended for Employers Who Keep Workers on Payroll

COVID Tax Credit Extended for Employers Who Keep Workers on Payroll

The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted Dec. 27, 2020, made a number of changes to the employee retention tax credits previously made available under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

The Internal Revenue Service is urging employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the payroll.

Industry News: IRS Offers New Contact-Free Signature Options for Tax Pros and Clients

IRS Offers New Contact-Free Signature Options for Tax Pros and Clients

Tax professionals can find the new “Submit Forms 2848 and 8821 Online” on the IRS.gov/taxpro page. Tax professionals must have a Secure Access account, including a current username and password, or create an account in advance of submitting an online ...

The Internal Revenue Service has rolled out a new online option that will help tax professionals remotely obtain signatures from individual and business clients and submit authorization forms electronically.

Industry News: 7 Tips to Keep Client Data Safe During this Work-from-Home Tax Season

7 Tips to Keep Client Data Safe During this Work-from-Home Tax Season



To keep client data safe when working from home this tax season, it is important to understand potential risks when sharing information electronically, and how to manage these risks effectively. Consider the following.

Industry News: 3 Keys to Thriving in an Ever-Changing Environment

3 Keys to Thriving in an Ever-Changing Environment



After a year like none other, it seems that simply surviving is on the agenda of many businesses. However, it is possible to not just survive, but thrive. CPA firms can achieve growth in an ever-changing landscape. There are several steps firms can take to position themselves for growth and flourish. Vision, agility, and resilience are the new watchwords of robust business models and of growing firms.

Vision



Industry News: Do you know when taxpayers are likely to receive their 2021 income tax refunds?

When Will You Get Your 2021 Income Tax Refund?

This chart shows an estimated date for when you may receive your refund: The Covid stimulus payments you received in 2020 (and the second check whether you received it in 2020 or 2021) will NOT decrease your tax refund.

Industry News: Individual CPAs Eligible to Apply for .CPA Domains Tomorrow

Individual CPAs Eligible to Apply for .CPA Domains Tomorrow

New Restricted Domain for the Accounting Profession Promotes Greater Trust and Brand Recognition

NEW YORK (Jan. 14, 2021) – Starting tomorrow at 10 a.m. ET, licensed CPAs can apply on an individual basis for their preferred branding under the new restricted Internet domain for the accounting profession, .cpa. Until now, only licensed CPA firms and approved organizations, such as state CPA societies, were eligible.

Industry News: What are the six pitfalls to avoid when adding financial planning to your firm’s offerings?

Avoid These Pitfalls When Adding Financial Planning Services to Your Firm’s Offerings



There are several structures for adding financial planning services to your firm’s current services. For example, you can handle everything in-house or partner with a financial planning firm to provide services.

Our last article highlighted multiple reasons why it is logical and advantageous to add financial planning services to your firm’s offerings.

Industry News: Top 10 Regulatory Issues You Need to Monitor in 2021

Top 10 Regulatory Issues to Watch in 2021

The start of a new year is always a time to look forward, both for individuals and for business leaders. With the year also bringing changes in the administration, Paychex, Inc., a provider of technology solutions for human resources, payroll, benefits, a



Industry News: Do you know the five strategic areas to consider during the upcoming tax accounting close cycle?

In-House Tax: Leverage Technology for the Upcoming Compliance Season



Tax departments today are facing unprecedented pressures, including management of changing tax obligations, new regulatory requirements, and providing real time scenario analysis – all while adjusting to a new workplace environment.

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