Accounting
New European Commission Report: VAT Gap
In 2017, Value-Added Tax (VAT) accounted for 62.3 percent of consumption tax revenues in the OECD on average, making it an important source of government revenue. The European Commission (EC) recently published the latest version of their annual report on the “VAT Gap” in 2018 for the 28 Member States of the European Union at…
Read MoreIRS set to begin rolling out new case management system
The Internal Revenue Service is starting with the customer support area of its Exempt Organizations unit. Original Article Posted at : https://www.accountingtoday.com/news/irs-set-to-begin-rolling-out-new-case-management-system
Read MoreIMA makes new push to spotlight CMA value during tough economic times
The Institute of Management Accountants has launched a new promotional campaign to highlight the role of Certified Management Accountants in real-world situations, taking a more serious tone in the midst of the pandemic than its humorous ad campaigns. Original Article Posted at : https://www.accountingtoday.com/news/ima-makes-new-push-to-spotlight-cma-value-during-tough-economic-times
Read MoreCCH Axcess e-filing goes down on tax deadline
Tax preparers started noticing e-filing was not functional on Tuesday, September 15, some accountants receiving a message saying the system was experiencing “temporary filing errors.” Original Article Posted at : https://www.accountingtoday.com/news/cch-axcess-e-filing-goes-down-on-tax-deadline
Read MoreAppZen introduces AI system for audit analysis
Mastermind Analytics identifies spending risks, provides benchmarks on demand, and gives finance teams more visibility into behavior patterns. Original Article Posted at : https://www.accountingtoday.com/news/appzen-introduces-ai-system-for-audit-analysis
Read MoreQuickBooks Desktop 2021 updates respond to new COVID realities
There has been a rise in customer requests for help with finding remote hosting solutions. Original Article Posted at : https://www.accountingtoday.com/news/quickbooks-desktop-2021-updates-respond-to-new-covid-realities
Read MorePublic-private sector experience benefits quality across the accounting profession
A former FASB chairman believes personnel movements from accounting firms to regulators and vice versa should be viewed as an important contributor to the overall quality of work and information shared with participants in the capital markets. Original Article Posted at : https://www.accountingtoday.com/opinion/public-private-sector-experience-benefits-quality-across-the-accounting-profession
Read MoreSenate, Supreme Court opt out of Trump payroll tax deferral
The U.S. Senate and Supreme Court are joining the House in not implementing President Donald Trump’s order allowing employers to defer payroll taxes owed by workers. Original Article Posted at : https://www.accountingtoday.com/articles/senate-supreme-court-opt-out-of-trump-payroll-tax-deferral
Read MoreDoes Your State Have an Individual Alternative Minimum Tax (AMT)?
This week’s map shows the five states that have an Alternative Minimum Tax (AMT) in their individual income tax codes: California, Colorado, Connecticut, Iowa, and Minnesota. Under an individual AMT, many taxpayers are required to calculate their income tax liability under two different systems and pay the higher amount. The federal AMT was created in 1963, after Congress discovered…
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