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May 2020 Archives

3 ways the coronavirus pandemic impacts tax preparers

Tax return professionals, like many throughout the country, have been forced to adapt their practices to navigate the current coronavirus pandemic. Three examples that are specific to this practice include a changed workplace, amplified focus and the need for continual change. What does this mean for the future of the business? The following provides some guidance.

Court slams Wells Fargo with tax penalties: 3 lessons

The Eighth Circuit Court of Appeals recently hit Wells Fargo with penalties for negligence related to tax matters. In the case, the government claims the bank wrongly claimed foreign tax credits. As a result, the court fined the bank a negligence penalty for claiming the credits.

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