Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985. Prior to joining Accounting Today and WebCPA, he worked for Red Herring, Internet World, Beyond Computing, Accounting Technology and PC Magazine, and freelanced for a variety of other business publications. A graduate of the University of Pennsylvania with a BA in English, he studied accounting at the Wharton School of Business, and currently lives in New York City.
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The agency is encouraging taxpayers who have received but not yet responded to a CP-14 notice to promptly do so.
August 24 -
By law, these payments are taxable so clients will need to report them on their 2020 federal income tax returns.
August 19 -
The Internal Revenue Service is giving taxpayers a break if the checks they mailed in to pay their taxes still haven’t been opened up yet and are sitting in the trailers the IRS set up during the pandemic.
August 17 -
This may be the final chance for eligible clients to submit for the additional economic impact payments under the CARES Act this year.
August 17 -
The U.S. Small Business Administration has posted rules about how businesses who have been turned down for forgiveness of their Paycheck Protection Program loans can appeal the decision.
August 13 -
Startup Breakaway Bookkeeping & Advising is building a network of finance professionals to act as virtual CFOs for small-business clients.
July 13 -
The Small Business Administration and the Treasury Department unveiled a simpler loan forgiveness application for the Paycheck Protection Program to reflect changes under the PPP Forgiveness Act.
June 17 -
The Internal Revenue Service is extending the due dates on its balance due notices because it wasn’t able to mail out the preprinted letters to taxpayers due to office closures during the ongoing COVID-19 pandemic.
June 12 -
The Internal Revenue Service won’t charge people who threw their stimulus money away because they thought the envelope was junk mail.
June 8 -
The Internal Revenue Service and the Treasury Department issued proposed regulations Wednesday to update the income tax withholding rules for periodic retirement and annuity payments made after Dec. 31, 2020.
May 27
