Supplemental Shuttered Venue Operator Grant Program Awards Available
The U.S. Small Business Administration recently announced it will begin sending invitations for supplemental Shuttered Venue Operator Grant program awards.
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All Featured (34) For the Public (149) Tax News (513) Accounting & Auditing (244) Business & Industry News (142) Regulatory News (118) Legislative News (59) Chapter News (47) Young CPAs (86) Students (104) TSCPA Press Releases (102)Showing : 951–960 of 1265
IRS Announces Tax Relief for Victims of Severe Storms and Flooding in Tennessee
Following the recent disaster declaration issued by FEMA, the IRS announced that Tennessee victims of Severe Storms and Flooding that occurred on Aug. 21, 2021, now have until Jan. 3, 2022, to file various individual and business tax returns and make tax payments.
View MoreThe 10 Biggest Myths (Missed Opportunities) With the Employee Retention Credit
In March 2021, this credit was extended through Dec. 31, 2021, and expanded as part of the American Rescue Plan Act of 2021.
View MoreOMB Provides Updated Single Audit Guidance in 2021 Compliance Supplement
The Office of Management and Budget recently released the 2021 Compliance Supplement providing updated guidance for single audits of fiscal years beginning after June 30, 2020.
View MoreIRS Updates Automatic Accounting Method Change Procedures
The IRS recently issued Rev. Proc. 2021-34, which updates the list of accounting method changes to which automatic change procedures apply.
View MoreIRS Provides Relief for Certain Employers Claiming the Work Opportunity Tax Credit
The IRS recently issued Notice 2021-43, which provides transition relief to certain employers claiming the Work Opportunity Tax Credit.
View MoreTreasury, IRS Provide Gross Receipts Safe Harbor for Employers Claiming Employee Retention Credit
The U.S. Department of the Treasury and the IRS recently issued Revenue Procedure 2021-33, providing a safe harbor allowing employers to exclude certain amounts from gross receipts solely for determining eligibility for the Employee Retention Credit.
View MoreTennessee Franchise and Excise Return Extension Lengthened for Tax Years Beginning Jan. 1, 2021
Throughout the pandemic and following natural disasters, TSCPA and the AICPA worked to extend tax filing deadlines. When extensions were announced at the federal level, TSCPA worked quickly with the Tennessee Department of Revenue to make sure state tax filing deadlines were also extended accordingly. One of the extensions passed by the 112th Tennessee General Assembly was for the Tennessee franchise and excise tax.
View MoreEconomic Stimulus Spurring New Strains of Single Audits
In response to the devastating effect of the global pandemic on the U.S. economy, Congress passed several laws (the CARES Act, CAA and ARPA) that contained trillions of dollars to stimulate the economy. The funding was received by many state and local governments as well as nonprofit entities. Many of these entities have not previously received this level of funding.
View MoreTreasury, IRS Provide Additional Guidance on Employee Retention Credit
The U.S. Department of the Treasury and the IRS recently issued Notice 2021-49, providing further guidance on the employee retention credit, including guidance for employers who pay qualified wages after June 30, 2021, and before Jan. 1, 2022, and additional guidance on miscellaneous issues that apply to the credit in both 2020 and 2021.
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