…a priority to have timely and accurate acknowledgements to those donors early in the new year, at the latest, that comply with the requirements of the Internal Revenue Service (“IRS”)….
…equal to the amount of its pandemic-related revenue loss, subtracted by the total amount a qualifying business received in all PPP loans. The Small Business Administration (SBA) will administer and…
…Revenue Code. However, there were some limitations created as part of the TCJA. One such limitation is the excess business loss (EBL) rule under Internal Revenue Code Section 461(l), which…
…“Top Regional Leaders” by Accounting Today. Ranked in the Capital Region, which includes Delaware, Maryland, Washington D.C., Virginia, and West Virginia, this annual list highlights leading firms based on revenue…
…the reasonable application of a reasonable valuation method. This aligns GAAP with the current valuation requirements prescribed by Internal Revenue Code Section 409A and related Tax Regulations. The practical expedient…
…their employees. Internal Revenue Code 512(a)(7) is repealed to the time of enactment, paving the way for charitable organizations to recover taxes paid previously. Guidance from the IRS is expected…
…captured through analysis of IPA’s annual practice management survey and net revenue ranking. The IPA list categorizes the top 500 firms, with revenue figures for the Top 200 lists firms…
…however, the states have been slow to adopt conformity to the Act given the substantial costs of such conformity. Virginia currently conforms to the Internal Revenue Code in effective December…
…form of tax fraud that affects thousands of taxpayers every year. According to the Internal Revenue Service (IRS), in the first five months of 2017, approximately 107,000 taxpayers were victims…
…of Virginia tax conformity In Virginia, a fixed-date Internal Revenue Code (IRC) conformity approach had been in place since 2003. Every year, passing federal tax conformity legislation in the General…
…is no limit on the number of employees a business can hire. Employers file Form 5884 to claim the tax credit. 2022 New Hire Prescreening Process Update The Internal Revenue…
Accounting Opportunities to Position Your Non-Profit for Change Non-profit industry revenue is forecasted to grow an annualized 3.4% over the next several years to 2026, totaling $175.6 billion. As these…