Good news: Your company can continue to rely on an electronic signature for many different tax forms through the end of the year. IRS recently extended the use of electronic and digital signatures on many tax forms until Dec. 31, 2021. This extension applies to paper forms that can’t currently be e-filed. For example: Form […]
IRS just announced it will hold fourth quarter interest rates steady for federal tax payments. According to Revenue Ruling 2021-17, your interest rates as of October 1 will be: 2% for overpayments 0.5% for the portion of a corporate overpayment exceeding $10,000 3% for underpayments, and 5% for large corporate underpayments. That’s the same as […]
CFOs, it’s time to ensure that all your financial ducks in a row. More IRS audits could soon be coming your way.
Many public companies have now finished their second year accounting for leases under ASC 842, and the effective date for private companies is quickly approaching. The new lease accounting rules significantly impact the way companies—both public and private—account for their lease portfolios and have wide-reaching implications across the entire balance sheet. For the first time, […]
Tell your finance team to get ready! Companies of all sizes will have to prepare for a lower e-filing threshold.
There’s new information available for your finance team about the forthcoming 1099 platform for preparing and filing returns.
FASB’s lease accounting standard (ASC 842) will take effect for periods beginning after Dec. 15, 2021 (calendar year 2022) for private companies. Which means hopefully by now you’re in full-on preparation mode. But what technology route should you take to get – and keep – your company in compliance? Take a look at what your […]
Companies are getting a small break! IRS is temporarily letting businesses take a 100% deduction on food and beverages from restaurants.
The annual Purple Book from the National Taxpayer Advocate is here, and this year’s report contains several recommendations for the IRS to make changes that’ll impact your Payroll and Finance teams. Many of the suggested updates deal with e-filing returns, making tax payments online and penalties. They could reduce red tape and save you big […]