IMA elects incoming chair

The institute named Gwen van Berne as its sixth female chair-elect and the first to reside abroad. ]] Original Article Posted at : https://www.accountingtoday.com/news/ima-elects-cfo-gwen-van-berne-as-incoming-chair

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Excise Tax Application and Trends

Table of Contents Key Points Introduction A Short History of Excise Taxes — Pigouvian Taxes All Tax Policy is About Trade-offs General Design Considerations — Tax Base — Tax Rate — When to Levy — Revenue Allocation — Regressivity — Principles for Excise Tax Design Traditional Excise Tax Categories — Tobacco — Alcohol — Motor…

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IRS failed to collect $2.4B in taxes from millionaires

Auditors were only able to recoup about 39 percent of the more than $4 billion in unpaid taxes owed by a group of rich taxpayers with an average annual income of nearly $1.6 million. Original Article Posted at : https://www.accountingtoday.com/articles/irs-failed-to-collect-2-4b-in-taxes-from-millionaires

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SBA defers repayment of disaster loans until 2022

The Small Business Administration pushed back the deferment period for all its disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until next year. Original Article Posted at : https://www.accountingtoday.com/news/sba-defers-repayment-of-eidl-disaster-loans-until-2022

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IRS offers guidance on unemployment benefits exclusion

The Internal Revenue Service posted information about how to correctly compute the new exclusion on a portion of unemployment income as Congress pushes the IRS for further tax-filing relief. Original Article Posted at : https://www.accountingtoday.com/news/irs-offers-guidance-on-unemployment-benefits-exclusion

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Art of Accounting: Ides of March

March 15 is a busy date. The S corporation and partnership returns are due then, so the K-1s can be distributed. Original Article Posted at : https://www.accountingtoday.com/opinion/art-of-accounting-the-ides-of-march

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Art of Accounting: The Ides of March

March 15 is a busy date. The S corporation and partnership returns are due then, so the K-1s can be distributed timely. Original Article Posted at : https://www.accountingtoday.com/opinion/art-of-accounting-the-ides-of-march

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How to create an AI-ready staff

Inaction on AI was once a permissible approach. Now it’s an existential threat. Original Article Posted at : https://www.accountingtoday.com/opinion/how-to-create-an-ai-ready-accounting-firm

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