DAILY BRIEFING

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November 17, 2021

Prepared for Voornaam

The tax impact of the infrastructure act

By Roger Russell       4 min read

The new act impacts cryptocurrency, the Employee Retention Credit and tax deadlines. View story →

Persistent IRS logjams and errors muddle financial planning for millions on eve of new filing season

By Lynnley Browning       5 min read

The agency has cleared out much of its mammoth backlog of unprocessed returns, but scores of individuals and small business owners remain in limbo.  View story →

RELATED

IRS offers online tool for U.S. withholding agents to report foreign income →

The tool will help U.S. withholding agents comply with their reporting and withholding responsibilities with Form 1042-S.

IRS relaxes OIC policies

By Michael Cohn       2 min read

The service agreed to ease its policies for low-income taxpayers who are trying to settle their tax debts and still get tax refunds. View story →

IRS ups transcript limit for tax pros to 30

By Michael Cohn       2 min read

The service has increased the number of transcripts that tax professionals can order per client to 30, up from 10 previously. View story →

Withum merges in Restivo Monacelli

By Michael Cohn       2 min read

The Top 25 Firm is expanding in Rhode Island and Florida. View story →

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Full meals now part of per diem rate: IRS

By Jeff Stimpson       1 min read

New guidance on the temporary 100% deduction is available in Notice 2021-63. View story →

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4 estate planning tips for clients

By Henry Montag, Nancy Burner      

Amid the pandemic, staying informed about life insurance strategies with trusts and estates is critical.  View story →

In the blogs: Tsunamis of change

By Jeff Stimpson       3 min read

Keeping your peeps; Better’s economic impact; new to us; and other highlights from our favorite tax bloggers. View story →

Bookkeepers, accountants respond to pandemic with new services

By Michael Cohn       2 min read

Over two-thirds of respondents to a new survey also expect to add new team members in the coming year. View story →

House moderates expect Biden bill’s cost estimates to fall short

By Laura Davison and Jarrell Dillard       3 min read

Legislators are anticipating the Congressional Budget Office projections, which will be released by Friday. View story →

IRS offers online tool for U.S. withholding agents to report foreign income

By Michael Cohn       2 min read

The tool will help U.S. withholding agents comply with their reporting and withholding responsibilities with Form 1042-S. Read story →

UHY merges in House Park Dobratz & Wiebler

By Michael Cohn       2 min read

The Top 50 Firm is increasing its presence in Kansas City, Missouri. Read story →

Bill.com adds new features

By Daniel Hood       2 min read

Among the improvements is the ability to pay a vendor with a credit card — even if they don’t accept cards. Read story →

Art of Accounting: How to move staff up

By Edward Mendlowitz       4 min read

Staff need to develop and grow if firms are going to develop and grow. Read story →

Indirect tax becoming more of a challenge

By Michael Cohn       5 min read

Sales taxes have risen to an average of between 25% and 35% across countries that are part of the OECD, according to a new report.  Read story →

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ASC 842 and GASB 87 – Top three challenges of compliance

Wednesday, November 17, 2021 2:00 PM EST

Compliance with the lease accounting standards applies to every organization subject to the rules of the Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB), regardless of size.  Learn More →

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2022 and beyond accounting firm technology preview

Wednesday, December 1, 2021 2:00 PM EST

The latest technologies are making it easier for firms to adapt to the rapid pace of change and handle increased pressures in the accounting profession.  Learn More →

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WEB SEMINAR

Form 1099 season prep

Wednesday, December 15, 2021 2:00 PM EST

Anyone responsible for 1099 reporting at their organization would benefit from joining this webinar where you’ll learn everything you need to know about Form 1099 reporting for the upcoming tax season. Learn More →

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