AICPA Tax Insider (September 16, 2021): Ways and Means releases list of tax provisions for budget bill; Guidance issued on 2021 qualified sick and family leave wage reporting; and More!

Ways and Means releases list of tax provisions for budget bill
The proposal would raise tax rates for corporations and individuals and make many other changes to the Internal Revenue Code.

Guidance issued on 2021 qualified sick and family leave wage reporting
Information reporting on Form W-2 or a separate statement allows self-employed taxpayers to claim qualified sick leave and qualified family leave equivalent credits.

SBA quadruples COVID-19 EIDL limit to $2 million
The SBA unveiled a menu of COVID-19 EIDL program modifications designed to make it easier for restaurants and other businesses particularly hard hit by the pandemic to take out EIDL loans.

Tax software: What CPAs like and dislike
In this podcast with transcript, learn what tax practitioners think of the software they used to prepare returns during this difficult tax season.

Three years after Wayfair: Future impact and lingering issues
By Jeff Dorris, CPA, and Lee Fritts, CPA
State efforts to streamline sales and use tax reporting could significantly reduce burdens imposed on small businesses in a post-Wayfair environment — and also result in better compliance and increased revenue.

Correlating culture with retention in small accounting firms
By Jackie Meyer, CPA
Defining a practice’s culture and values early can help retain staff and avert a crisis.

Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.

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