Category: Accounting
IRS Issues HIRE Act Payroll Tax Form
| 05/18/2010 | Filled under Accounting, News |
From www.webcpa.com by WEB CPA staff The Internal Revenue Service has posted a form on its Web site that employers can use to claim a payroll tax exemption for hiring new employees under the recently passed HIRE Act. Form 941, Employer’s Quarterly Federal Tax Return, revised for use beginning with the second calendar quarter of…
Americans Feel More Financially Secure
| 04/28/2010 | Filled under Accounting, Finance, News |
From www.webcpa.com by WEB CPA Staff Americans now feel more optimistic about nearly all aspects of their financial security, according to a new survey. The Country Financial Security Index increased 1.8 points in April to 64.9, recovering ground from a record-setting decline in February. The April Country Index reveals 38 percent of those surveyed currently…
Public Appreciates Accountants More
| 04/22/2010 | Filled under Accounting, News |
From www.webcpa.com by WEB CPA Staff Americans seem to hold a generally favorable view of accountants, according to a new survey. This year, 30 percent of U.S. adults used accounting professionals to get their taxes done, according to an online survey conducted in April for Ajilon Finance by Harris Interactive. In addition, the survey found…
IRS Reduces Audits of Large Corporations
| 04/13/2010 | Filled under Accounting, News, Tax/Compliance |
From www.webcpa.com by WEB CPA Staff The Internal Revenue Service’s audits of the nation’s largest corporations have dropped sharply in recent years, despite growing federal budget deficits, according to a new report. For corporations with assets of $250 million or more, the IRS in the last five years has cut back on the number of…
IRS to Step up Audits of Sole Proprietors
| 04/13/2010 | Filled under Accounting, News, Tax/Compliance |
From www.webcpa.com by WEB CPA Staff The Internal Revenue Service plans to check for unfiled tax returns and look for unreported income from sole proprietors of small businesses during correspondence audits. Estimates by the IRS show that $68 billion of the $345 billion tax gap in 2001 was due to the underreporting of income by…
Most Married Partners Unaware of QJV Filing Option
| 03/24/2010 | Filled under Accounting, Finance, News, Tax/Compliance |
From www.webcpa.com by WEB CPA Staff A large proportion of married business partners who file individual or partnership tax returns are unaware of the potential benefits of a more recent filing option. A report by the Treasury Inspector General for Tax Administration found that in tax year 2007, approximately 40,000 taxpayers filed a Form 1065 and…
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