AICPA Tax Insider (December 9, 2021): Many changes in store for Form 1040 and related schedules; Business tax quick guide – tax year 2021; and More!

Many changes in store for Form 1040 and related schedules
By Dana McCartney, CPA
Dozens of new line items supplement write-in blanks on 2021 returns.

Business tax quick guide — tax year 2021
A handy one-sheet with key rates, thresholds, and limitations that is downloadable as a PDF.

Early sunset of the employee retention credit gets penalty relief
The IRS describes how employers may avoid failure-to-pay and failure-to-deposit penalties for ERC claimed or anticipated in the fourth quarter but eliminated by the Infrastructure Act.

Recent executive compensation and fringe benefit changes
By Veena K. Murthy, J.D., LL.M., and Jacqueline McCumber, CPA, J.D.
A deductibility playbook for meals, compensation, and more.

E-signing for forms, tax compliance documents extended
Temporary pandemic-related procedures are reauthorized through October 2023 for certain paper returns and forms and documents in exams and similar taxpayer interactions.

Remote work creates a spectrum of state and local tax issues
By Drew VandenBrul, CPA, and Jennifer W. Karpchuk, J.D.
With temporary nexus wavers expiring, a panacea of the pandemic opens a Pandora’s box.

AICPA tax advocacy gets results in 2021
By Eileen Reichenberg Sherr, CPA, CGMA
The AICPA Tax Policy and Advocacy group worked with the AICPA Congressional Affairs group to represent the interests of practitioners and the public.

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

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