Main Street Practitioner Blog

Tax and Accounting News for Practitioners from Main Street to Wall Street

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Welcome to NSA's Main Street Practitioner Blog

The Main Street Practitioner Blog is a place for members, content specialists, instructors, and staff of the National Society of Accountants to share their perspectives on accounting, tax preparation, the IRS, practice management tips and tools, technology, and more.

Members of NSA can read industry articles, thought-leadership content, and practice management sourced from leading minds in tax and accounting. NSA also solicits material from new and emerging authors who are willing to share knowledge with our membership.

Join NSA to take advantage of everything this blog has to offer.

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    Employee Retention Credit

    The IRS and Department of the Treasury have released more information about the Employee Retention Credit program that has been recently launched. Below is the information directly from the source, covering business qualifications, credit calculations, wages, and how funds will be delivered. IRS: ...

  • The IRS has published Notice 2020-21, defining the effective date for employment tax credits under the Families First Coronavirus Response Act.  Notice 2020-21 provides that employment tax credits for paid qualified sick leave wages and paid qualified family leave wages required by the Act will ...

  • The National Public Liaison Office sent out a notice last night detailing service interruptions due to the national health emergency. Help desks closed due to staff limitations: PPS (Practitioner Priority Services) line e-Services Help Desk line e-Services, FIRE (Filing Information Returns ...

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    Senate Passed Relief Bill

    Senate Passed Relief Bill John Rice, NSA CEO Washington, DC, March 26, 2020—Late Wednesday, March 25, 2020, the Senate passed an unparalleled $2.2 trillion economic rescue package providing aid to businesses, workers, and health care systems, suffering from the huge economic effects caused by ...

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    Tax relief FAQ updated

    The IRS has updated the FAQ page for filing and payment deadline extensions outlined in  Notice 2020-18 . The FAQ page will be updated periodically from this point to reflect any new information or IRS notices. Visit the FAQ . The IRS has also created a new page to keep you informed of mission-critical ...

  • I spoke with a client the other day who says she hasn’t seen grocery stores this empty since rationing during WWII. While I wasn’t there to see that for myself, it makes sense. This is a scary time. When you watch the news, or even talk to people you know, it’s clear that we’re rattled. People stock ...

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    NSA Update 3/17/2020

    Life is changing rapidly. The impact of the coronavirus is being felt everywhere. NSA is going to help you stay on top of things. Tax Deadline Extensions As you may already know, Secretary Mnuchin announced at today's White House news conference that while the tax deadline of April 15th hasn't ...

  • Today: Treasury Secretary Mnuchin has announced that major programs will be taking effect to assist the American public during the COVID-19 crisis. Briefly, the Treasury Department will try to send checks to Americans immediately, within the next two weeks, and people who will owe or currently owe the ...

  • Alexandria, V.A. (March 13, 2020) – Today, the National Society of Accountants (NSA) sent a letter to The Honorable Charles P. Rettig, Commissioner of the Internal Revenue Service, requesting an extension of filing season. The letter was drafted in response to concerns voiced by NSA members relating ...

  • NSA is watching for developments in the news, and not only for things that affect tax and accounting professionals. As a professional society, and as individuals, we are concerned for our communities, families, clients, and one another. in this blog post, we would like to share some resources that may ...