The past year has taken a huge toll on both tax professionals and taxpayers, something Taxgirl talks about frequently. According to a 2021 survey from Robert Half, more than 44% of employees say they are more burned out on their jobs today than they were a year ago. Employers and employees are seeking all kinds…
Big Four accounting firm PwC made waves earlier this year when it introduced a “work anywhere” policy for its 55,000 US employees, allowing them to choose an all-virtual work option. The policy is intended to help PwC attract new talent and retain top talent in a competitive market. The tax profession isn’t always leading the…
In April, Kelly announced the first Bloomberg Tax & Accounting Insights student writing competition. The contest sought to highlight the very best of student writing. A panel of judges from the Bloomberg Tax team scored and reviewed every entry, and the winners from schools around the globe represent the best young talent in the tax…
From work from home, to deductions, to Wayfair, it’s clear that state and local taxes (SALT) have become critical in the tax world. While the larger focus used to sit squarely on federal taxes, the industry lens seems to be shifting toward SALT more and more. State and local taxes can seem complicated, especially in…
In September, there were still about 17.6 million tax returns awaiting processing, and the IRS anticipates receiving over 4 million more returns in October. The delay has resulted in a lot of frustrated taxpayers, especially those grappling with error notices and being charged penalties and interest for alleged mistakes. Those penalties add up. For the…
t’s been a long 18 months for tax professionals–deemed #marchternity on Twitter. But is there light at the end of the tunnel? According to the 2021 Accountants Confidence Report, tax and accounting professionals are confident their clients’ finances will improve over the next 12-18 months. However, the same report shows industry professionals are also pessimistic…
Over the past year, Kelly has talked a lot about “the profession.” Broadly, that refers to the tax world. However, tax as a career isn’t always easy to categorize, and not all tax professionals are accountants or preparers. Kelly is often asked how to get started in tax, and since the answer can be so…
At age 26 in 2008, pop star Britney Spears was put under a court-sanctioned conservatorship. That meant that other people (including her father) that had been named as a conservator were allowed to make decisions about her career and her money. The story has attracted so much attention that it has its own New York…
In March of 2020, Congress introduced a new tax credit: the Employee Retention Credit (ERC) as part of the CARES Act. The ERC was a direct response to the pandemic and was designed to help businesses keep employees on the payroll. But the ERC got off to a rocky start and was quickly overshadowed by…
While the subject of partnerships has brought Kelly many headaches, many tax professionals are drawn to them because of their notorious detail and nuance. It may come as no surprise that new tax technology innovations often find their way into the world of partnerships before other areas of the tax practice. As the complexity of…