Congressional Republicans urge IRS to extend COVID-19-related tax penalty relief deadline

Congressional Republicans urge IRS to extend COVID-19-related tax penalty relief deadline

A group of Republicans on Congress's main tax committees sent a letter to the IRS and the Treasury, backing a request from the AICPA, and more of today’s top stories.?

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Congressional Republicans urge IRS to extend COVID-19-related tax penalty relief deadline

The letter comes in response to tax penalty relief announced by IRS commissioner Charles Rettig last month.

In other news today:

SEC charges Friedman with improper conduct in audits

The commission charged the Top 100 Firm for failing to comply with the standards of the PCAOB while conducting audits of two public companies from 2017 through 2020.

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Practice Profile: Continuing the education

Global Tax Management's new training program teaches tax pros in other organizations.

The two types of 'trusted'

Accounting firms need to aim to be more than just reliable.

FASB seeks nominees for Small Biz Advisory Committee

Members serve one-year terms advising the board on the needs and perspective of small public companies.

Sales tax receipts decline as inflation pinches pockets

Half of U.S. states saw year-over-year drops in June, suggesting state revenues may continue to drop.

Taxpayers are trying to recover from the current administrations financial incompetence, and fiscal idiocy, allow them to try and get back closer to normalcy…

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