My sister and brother-in-law told me and my younger sister that our parents did not want him sharing any information whatsoever about their estate. Instead, he sent us spreadsheets as a courtesy — and he said that even this is not a requirement.
"The executor will have to report all assets collected; all taxes, debts and expenses paid out of estate funds; all income collected; and all distributions made or to be made," says Neil V. Carbone, trusts and estates partner at Farrell Fritz PC .
Illinois CPA Society names 10th Mary T. Washington program grads | Accounting Today
The Illinois CPA Society honored 29 minority accounting college students who graduated from the tenth annual Mary T. Washington Wylie Internship Preparation Program.
The three-day program was held online from Jan. 5-7, 2022. Local accounting students received training to help them best prepare for their first real-world experiences in accounting.
IRS updates Recovery Rebate Credit and EIP guidance | Accounting Today
To claim any remaining credit for 2021, eligible people need to file a 2021 tax return, even if they usually don't file taxes.
The Recovery Rebate Credit for 2021 can reduce any taxes owed or be included in the tax refund for the 2021 tax year. Filers need to ensure they don't mix information from tax years 2020 and 2021.
How Automated Accounting Software Changes Company Accounting Operations
Businesses spend a lot of time managing expenses, invoicing, preparing reports, and performing other routine tasks. But what if you entrust all these operations to software? Your accounting department will be able to solve more important issues, doing more in less time.
Accounting Aid Society names Priscilla Perkins as new CEO | Crain's Detroit Business
Former Beaumont Health Foundation executive Priscilla Perkins has joined Accounting Aid Society as its new president and CEO.
Aro will remain with Accounting Aid as immediate past president through Feb. 4 to assist with the leadership transition.
IRS opens Free File program for 2022 | Accounting Today
The program gives people an early opportunity to file their taxes and claim the 2021 Recovery Rebate Credit, the enhanced Child Tax Credit, the Earned Income Tax Credit, and other important credits.
The online products are available for free as part of a 20-year partnership with the Internal Revenue Service. This year, there are eight products available in English and two in Spanish. IRS Free File is available to any person or family who earned $73,000 or less in 2021.
IRS pilots program to fast-track private letter rulings | Accounting Today
The Internal Revenue Service is pilot-testing a program for the next year and a half to expedite requests for rulings and determination letters for corporate taxpayers.
The IRS typically processes requests for letter rulings and determination letters in order of the date when they're received.
Looking abroad: As accounting firms struggle to find workers, more and more are expanding
Bill Hagaman, CEO and managing partner at Withum , described visits to one of his accounting and advisory firm’s 150-employee branch offices, where there’s a palpably easy-to-sense work ethic for the same rational reasons as you’d find anywhere else: Namely, the potential for a
Florida CPAs meet with state lawmakers | Accounting Today
The Florida Institute of CPAs held an annual in-person event Wednesday to meet one-on-one with lawmakers in the state capitol in Tallahassee.
This week's meeting included a keynote address from Florida Department of Business and Professional Regulation Secretary Melanie Griffin, who discussed a partnership with FICPA in to support and strengthen the CPA profession.
AICPA announces winners of 2021 CPA Evolution Resource Competition | Accounting Today
The American Institute of CPAs announced the winners of its 2021 CPA Evolution Resource Competition Awards.
Created last year, the competition asks accounting educators to submit their original long- or short-form case studies, exercises and general education material based on the new CPA Evolution model.
Happening on Twitter
Bigg Boss 15: Karan Kundrra's brother-in-law calls out Tejasswi Prakash for using foul language; here's what netize… https://t.co/e6rjtN7SoX bollywood_life (from Mumbai) Fri Jan 14 06:13:02 +0000 2022
Remember when the news for DAYS was just wall-to-wall coverage of Nasty Nick, the Big Brother contestant who manipu… https://t.co/9Xi0fN72lW SoozUK (from London) Thu Jan 13 18:07:10 +0000 2022
When asked about NYC law prohibiting the hiring of family members, Mayor Adams pointed to instances when the Confli… https://t.co/MgsyAUBmq1 Gothamist (from New York, NY) Fri Jan 14 20:36:01 +0000 2022
#KaranKundrra's brother-in-law posted a tweet, taking a dig at #TejasswiPrakash https://t.co/mdmZjnBymw ZoomTV (from Bollywood) Fri Jan 14 10:21:49 +0000 2022
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