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As tax season comes to an end, CPAs and accounting firms can exhale a sigh of relief that the busiest time of year is over.

The Employee Retention Tax Credit (“ERTC”) was established as part of the CARES Act to provide employers with a refundable tax credit against employment taxes in the event of a pandemic. Subsequent legislation updated the Employee Retention Tax Credit standards, widening eligibility to include enterprises that obtained PPP loans and prolonging the credit through September 30, 2021. (For recovery start-up, Dec. 31st, 2021).

A positive work environment is crucial for organizational culture and employee satisfaction. It affects every aspect of life, from stress levels and mental health to productivity and performance. However, creating a healthy work atmosphere entails much more than changing the color of the office walls. Indeed, it extends far beyond the workplace.

Accounting professionals are in high demand as businesses look for new ways to provide value in the digital age. There is only one issue – a significant, persisting skills gap. Accountancy appears to be an excellent career choice for the current generation of commerce graduates. There is a high need for talented persons, numerous career opportunities, and a rising range of job opportunities.

We have officially bid farewell to our vacations and seized the tax season bull by the horns. The energies are high at first, but how long can everyone endure before succumbing to burnout? After all, it is not a matter of a few days, but of a few months! While all firms operate on a year-round basis, the volume of work accomplished during tax season is unmatched. Some of you may be able to disconnect from everything except taxes until April 18th, but still, we believe that a work-life balance should always be maintained, even more so on the busiest of days.

Numerous tax changes were enacted as part of the American Rescue Plan Act, which was signed into law in March 2021. This act was enacted to assist individuals and businesses in coping with the continued economic disruption caused by the COVID-19 epidemic.

More and more companies are relying on outsourced service providers rather of employing full-time employees. One of the most frequently outsourced business services is accounting. A business’s data must be secured from both internal faults and external threats in order to be successful.

The month of September 2021 has brought forth an interesting update for American taxpayers. The IRS just unveiled a distinct initiative in the form of a brand new webpage to address issues of taxpayers eligible for large-scale refunds. The recently introduced web page is helpful for refund claimants who need to undergo the Joint Committee of Taxation (JCT) review. Such a review is necessary prior to the settlement of specific types of refunds. Team Infinity Globus is here to help you to get to the bottom of this fresh IRS move and how it will prove beneficial for federal taxpayers.