Archives for tax season

Expect IRS Delays on Paper Filed Tax Returns

February 23, 2022 | by | Comments Off on Expect IRS Delays on Paper Filed Tax Returns

Hani Sharestan, CPA, MST Tax Partner   In amidst of the 2021 tax season, you should expect delays from the IRS in processing paper filed tax returns that require manual processing. Based on a recent published report, the National Taxpayer Advocate said in its annual report to congress the IRS continues to experience unprecedented severe backlogs in processing paper filed tax returns that require manual processing.  The report shared the following data regarding the IRS backlog of unprocessed returns and correspondence: 2 million unprocessed individual returns (Form 1040) mainly from 2020 and before; 8 million unprocessed payroll tax returns (Form
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Categories: Industry News and Newsletter and Updates.
Tags: accountant, accountants, accounting, accounting firm, audit, business, ca, california, certified public accountants, cpa, cpa firm, firm, IRS, irvine, newsletter, oc, orange county, so cal, southern california, tax, tax filing, tax firm, tax planning, tax return, tax season, taxation, taxes, taxpayer, wfy, wright ford young, and wright ford young & co.

Problems Faced Between You and Your Current CPA This Past Tax Season

May 1, 2019 | by | Comments Off on Problems Faced Between You and Your Current CPA This Past Tax Season

Once the corporate, individual and foundation tax reporting season is complete, there’s always an opportunity to evaluate and reassess the taxpayer’s level of satisfaction with their CPA relationship. Lack of communication, unwanted tax return extensions, incorrectly prepared Schedule K-1’s, and inability to accurately apply the qualified TCJA reform benefits  are just a few of the many frustrations that may have been experienced this past tax season. Situations can arise in a taxpayer-CPA relationship which makes a taxpayer to question whether or not their current accounting firm is the right fit for them.  Small to mid sized closely held companies and
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Categories: Newsletter and Updates.
Tags: accountant, accountants, accounting, audit, business, california, certified public accountants, company, cpa, erisa, estates, estates and trusts, irvine, issues, orange county, plan, problems, small business, southern california, tax, tax season, taxation, TCJA, trusts, and wfy.

WFY Hosts MGI North America West Coast Area Meeting

April 4, 2019 | by | Comments Off on WFY Hosts MGI North America West Coast Area Meeting

On January 4th, Wright Ford Young & Co. hosted the MGI North America West Coast Area Meeting at our offices in Irvine, CA. Joe Tarasco, Regional Director, and Nancy Damato, Director of Marketing, starting the meeting off by talking about key points such as MGI North America new member recruiting initiatives and activities, marketing assessment calls/web meetings with MGI North America members, a guide about foreign companies doing business in United States, and upcoming conferences. The meeting continued with discussions concentrating on MGI firm collaboration and practice management updates along with topics including business development, technical and niche areas, succession
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Categories: Industry News and Newsletter and Updates.
Tags: accountants, accounting, business development, certified public accountants, cpa, meeting, mgi, mgi north america, networking, newsletter, succession planning, tax, tax news, tax season, taxation, wfy, and wright ford young.