because talking taxes shouldn't be taxing
because talking taxes shouldn't be taxing
The tax professionals who use the Wolters Kluwer CCH Axcess and CCH ProSystem fx Tax programs received some great news. As you might remember, the efile system that both of these programs use went down on the afternoon of September 15, 2020. It turns out, that is a huge tax deadline so it was more […]
9/24/2020 Wolters Kluwer Update about CCH 9-15-2020 Efling Situation Read More »
Just a heads up for all the CCH users who were not able to efile their tax returns due on September 15, 2020. CCH just sent out a notice that they’ve been in contact with the IRS and that this qualifies as “reasonable cause.” Therefore, the returns will be considered timely filed if they were
Wolters Kluwer CCH Abatement Update Related to 9/15/2020 efiling situation Read More »
Yesterday was the September 15, 2020, tax deadline for extended partnerships and s-corporation returns that are filed on Forms 1065 and 1120-S. During the afternoon yesterday, the efile system for the Wolters Kluwer CCH Axcess system went down. It was a complete outage. I’m writing my own post about our experience and thoughts, but I
Wolters Kluwer CCH responds to September 15th “Efiling Situation” Read More »
The tax community has been expecting additional Interim Final Rules (IFR’s) for the Paycheck Protection Program (PPP) loans for a long time now. The speed at which these IFRs have been released has slowed down considerably, but, lo and behold, the Small Business Administration has released a NEW IFR today, August 24, 2020. The title
New SBA IFR on PPP Loans Released Today – 8/24/2020 Read More »
Just when it seemed like things in the tax world were starting to get back to a somewhat normal feeling, the US Treasury and Small Business Administration decided to release new Frequently Asked Questions on Paycheck Protection Program Loan Forgiveness. The Treasury’s website was updated today, August 4, 2020, with a new PDF document. You
NEW Frequently Asked Questions on PPP Loan Forgiveness 4 Aug 2020 Read More »
UPDATE 8/2/2022 – I’ve created an updated post for the Second Franchise Tax Extensions due on August 15, 2022 for the 2021 report year. You can find it here: Do You Need A 2nd Texas Franchise Tax Extension? UPDATE: The Texas Comptroller has added time to file extended Texas Franchise Tax Reports. If you extended
What you need to know about the Second Texas Franchise Tax Extension Read More »
The US Treasury and Small Business Administration have released some details about the companies that received Paycheck Protection Program loans and it includes businesses of all shapes and sizes. Yes it’s interesting to see who received them, but there is no shame in receiving one of these loans and using it to keep your employees
Instead of PPP loan shaming, look for this information Read More »
Whether you consider it good news or bad news, the US Treasury and the Small Business Administration has released details on the recipients of loans under the Paycheck Protection Program (“PPP”). I think it’s good news but apparently someone thinks it’s bad news because it took a lot of negotiating to get the information released.
What to look for in PPP Loan details released by US Treasury Read More »
Things have been slowing down on the Paycheck Protection Program front for a few days (PPP), which feels like an eternity in today’s world. Well have no fear, the Small Business Administration has been busy behind the scenes coming up with tweaks to the PPP and the application for the forgiveness of the loan proceeds.
PPP Loan Forgiveness Application – updated 6/16/2020 Read More »
The way taxes are calculated on the sale of a personal residence hasn’t changed in decades. The ability to exclude capital gains of up to $250,000 for singles and $500,000 for married couples is so established that many tax professionals don’t even know it was ever taxed a different way. Maybe it’s time to revisit
Is it time to revisit how we tax home sales? Read More »