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Jan 26, 2022

The IRS is now accepting and processing 2021 tax returns — a signal that the official start of the busy tax filing season is here. While it’s a new year, this tax season has similar vibes as the past two years but with some new obstacles as well.

On this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead...

Jan 12, 2022

A new year has arrived, and it’s an opportune time to pause and take some time to reflect on new goals and consider what’s possible.

It’s been a rough 18 months since the start of the pandemic, and tax practitioners continue to brave the storm of seemingly never-ending tax legislation, related guidance and...

Dec 14, 2021

The IRS recently released long-awaited guidance related to PPP forgiveness with three revenue procedures — Rev. Procs. 2021-482021-49 and 2021-50.

Earlier in the year, the AICPA submitted a letter to the IRS requesting guidance for a range of issues which are addressed in the revenue procedures. These include:

  • The...

Dec 1, 2021

In these challenging times, many CPAs may be contemplating if working in the profession among constant chaos is worth it.

In this Tax Section Odyssey episode, Tony Nitti, CPA chats with April Walker, CPA, CGMA, from the AICPA Tax Section, about the current state of the profession and its future. Professionals at all...

Nov 17, 2021

In June 2021, the IRS released final versions of two new international-related schedules that are being added to passthrough entity returns:

  • Schedule K-2, Partners' Distributive Share Items — International
  • Schedule K-3, Partner's Share of Income, Deductions, Credits, etc. — International

The new...