The IRS has released a draft version of the 2026 Form W-2, Wage and Tax Statement, which adds new fields to accommodate the tax exemptions on tips and overtime income from the “One Big Beautiful Bill Act.” On July 4, 2025, President Trump enacted the One Big Beautiful Bill Act, introducing significant changes to tax […] The post IRS Issues Draft 2026 Form W-2 to Address Tips and Overtime Tax Exemption Reporting first appeared on THInc.| THInc
Agency confirms the interest rate Canadians must pay on overdue tax will remain 7% in the fourth quarter| Advisor.ca
Opinion: CRA can improve its administration of bare trusts and the Canada child benefit| Advisor.ca
New limitations will apply starting in 2026, which makes 2025 a key window for maximizing your charitable contributions.| LSL CPAs
The recently signed “Big Beautiful Bill” Act fully preserves the Pass-Through Entity Tax (PTET) deduction. This deduction, often referred to as the small business deduction (Section 199A), enables eligible taxpayers to deduct up to 20% of their qualified business income (QBI) from their federal income tax liability. Legislative uncertainty surrounding the Pass-Through Entity Tax (PTET) […] The post Pass-Through Entity Tax Deduction AKA 20% Section 199A Preserved IN FULL in signed “Big...| THInc
Individual client authorization for a representative is now instant| Advisor.ca
July 4 the President signed the One Big Beautiful Bill Act (OBBBA) into law. Here's what you need to know & how you can start planning ahead.| LSL CPAs
One of the simplest ways is to ensure you are fully utilising your tax-free allowances.| numericaccounting
Number of service complaints was flat year over year, Taxpayers’ Ombudsperson report says| Advisor.ca
But both House and Senate are “on board for some version of this chaos,” lawyer says of U.S. tax bill| Advisor.ca
The agency will proactively reassess affected returns| Tax News | Advisor.ca
Plus, how proposed U.S. tax bill would affect clients’ U.S.-source income| Advisor.ca
If you’re a Georgia resident you may receive a Georgia State Surplus Tax Refund soon. The State of Georgia began issuing the tax refunds from the state’s tax year 2021 surplus funds to eligible filers on June 2, 2025. If you filed your 2023 tax return on time and 2024 tax return by the May The post Georgia State Surplus Tax Refund: Everything You Need to Know About the Rebate appeared first on Blog.| Blog
In the UK, any employer that provides employees or directors with shares or securities—whether as part of a formal share scheme or through ad hoc arrangements—is required to report these events to HM Revenue & Customs (HMRC) via an annual Employment-Related Securities (ERS) return. These rules apply regardless of whether the company operates a registered| Taxoo | Tax, Accounting & Business
Also, CFIB calls for legislative action on lifetime capital gains exemption, Canadian Entrepreneurs’ Incentive, carbon tax| Advisor.ca
The New April 2025 classifications are important if you are a business owner who is considering buying a double cab pickup. We are here to help you understand the new tax classifications and the longer-term impact of your decision.| numericaccounting
In the case of error codes, the CRA said it will provide interest and penalty relief if the problem isn’t resolved by the tax-filing deadline| Tax | Advisor.ca
This blog from Numeric Accounting looks at Making Tax Digital for Income Tax Self Assessment and tells you what you need to know.| numericaccounting
Report outlines CRA communication failures that resulted in wasted time, effort, from taxpayers| Advisor.ca
Non-compliance results in denial of expense deductions, raising taxable income| Advisor.ca
THE NEW VAT RULES FOR CONSTRUCTION SECTOR START ON 1 MARCH 2021 New VAT rules are due to come into effect on 1st March which will impact accounting for VAT for transactions in the construction sector. The new rules are called “the domestic reverse charge for supplies of building and construction services”. Under the new...| numericaccounting
