Tax season

Take a little time out from busy season with Ed's nonbusiness blogs.

Household employment has its share of nuances that may catch accountants and families off guard, cause noncompliance, and cost your clients money. Here are some of the typical tax season mistakes we see made by accountants and families and how to fix them.

U.S. taxpayers face the risk of delayed tax refunds as the agency struggles to work down a backlog of returns from last year, according to a watchdog report.

When everybody wants returns; future CPAs; the lure of Tinseltown; and other highlights from our favorite tax bloggers.

Tax practitioners share the new issues that they’re keeping an eye on.

The National Conference of CPA Practitioners is asking the IRS to postpone the tax deadline from May 17 until June 15 and to make it apply to quarterly estimated payments.

Which has more priority — reviewing a return that would take two hours to complete, or reviewing 12 returns that would take 10 minutes each?

The IRS will automatically process refunds for individuals who paid taxes on their unemployment benefits before Congress passed a law making those payments tax-free, Commissioner Chuck Rettig said.

The Internal Revenue Service’s delay of the April 15 tax-filing deadline to May 17 gives taxpayers an additional month to file returns and pay any outstanding levies.

The Internal Revenue Service is pushing back the tax-filing deadline until May 17 after heavy pressure from Congress and tax and accounting groups.

The Internal Revenue Service posted a Spanish version of its Form 1040 and instructions Tuesday and made available publications and online information in other languages.

For those with less than $150,000 in adjusted gross income who collected unemployment benefits this past year, the COVID relief bill allows them to receive up to $10,200 of those benefits tax-free.

An unacknowledged credit; potential estate tax changes; an ongoing EIN mess; and other highlights from our favorite tax bloggers.

“Even the easy returns are not simple right now,” a CPA says.

Building the right balance calls for a three-phase approach: Create a safe space, apply lessons learned, and map a vision for the future.

March 15 is a busy date. The S corporation and partnership returns are due then, so the K-1s can be distributed timely.

By becoming a learning organization, your team can learn to solve their own problems and free you up to focus on clients and big-picture initiatives.

Just under a month into federal tax filing season, the IRS reported a 32 percent slide in the number of refunds sent out compared with last year, showcasing delays that have spurred Democrats to call for postponing the traditional April 15 deadline.

Some tax pros say the confusion caused by the pandemic require a delay; others say it should be unnecessary by now.

Since last tax season, many clients have reassessed their charitable giving.