No matter whether Trump or Biden wins in November, a new survey from PwC indicates taxes may be rising.
Large firms have been reporting revenue increases amid the pandemic.
The AICPA believes taxpayers will be able to avoid penalties if they write “COVID-19” at the top of their return.
The biggest increase came in the advisory practice, where revenue rose 29.4 percent, followed by tax at 8.8 percent and assurance by 6.0 percent.
The COVID-19 pandemic is encouraging various forms of fraud, according to the Association of Certified Fraud Examiners.
A month after President Donald Trump moved to shore up workers’ incomes by giving employers the option of deferring payroll taxes, the effort has failed to energize a U.S. economy still reeling from the coronavirus pandemic.
The Internal Revenue Service added six more forms to the 10 that support e-signatures.
EY earned a record $37.2 billion in the fiscal year ending June 30.
The Internal Revenue Service plans to mail out letters later this month to an estimated 9 million non-filers, encouraging them to claim their economic impact payments by an Oct. 15 deadline.
Accounting firms are still managing to see increases in their fees and income per partner this year, despite the economic downturn from the COVID-19 pandemic, according to the latest edition of the annual Rosenberg Survey.