Featured News
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Final regs govern deductibility of fines, penalties
Taxpayers subject to government fines and penalties received guidance on when those payments are deductible or not deductible under final regulations posted by the IRS.
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DOR addresses effect of new federal law on 2020 returns
Significant provisions of the federal Consolidated Appropriations Act, 2021, were not adopted into Wisconsin law and will affect the filing of 2020 Wisconsin tax returns, the DOR announced.
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IRS delays tax season until Feb. 12
The IRS is delaying the start of the 2020 tax filing season to Feb. 12 to give the agency more time to prepare amid the ongoing COVID-19 pandemic.
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All taxpayers now eligible for IP PINs
All taxpayers who can verify their identities are now eligible for the Identity Protection PIN (IP PIN) opt-in program, the IRS recently announced.
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CPAs can apply for .cpa domains Friday
The .cpa domain application window opens Friday, Jan. 15, for licensed CPAs to apply for on an individual basis, the AICPA announced.
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SBA issues guidance for PPP2 loans
The SBA and Treasury have released procedural guidance that details requirements for the second round of PPP borrowers to reapply for a loan or request a loan increase.
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PPP application dates announced
The application window for PPP forgivable loans opens Friday, Jan. 15, for lenders with $1 billion or less in assets, the SBA and Treasury announced.
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Firms encouraged to aggressively advance PPP applications
The AICPA expects the federal government to open the PPP application process for all lenders by Friday and encourages firms to advance the application process for small business clients.
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IRS finalizes carried interests regulations
Final regulations on the tax treatment of carried interests issued by the IRS retain the basic structure of regulations proposed in August with certain changes.
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Wisconsin’s tax burden drops below national average
Wisconsin’s state and local tax burden dropped below the national average, according to a new report from the Wisconsin Policy Forum.