Major tax changes coming?
The Biden administration last week released their proposed budget plans for 2024, and if the proposal is any indication of what’s to come, there...
AICPA Comments on Section 162(m) Changes
The American Institute of CPAs (AICPA) submitted comments to the Department of the Treasury and Internal Revenue Service (IRS) related to changes made to...
You can respond to notices electronically now
The Internal Revenue Service (IRS) recently added an exciting new feature. Certain notices now can be responded to by uploading documents.
Tax preparers everywhere rejoice!...
AICPA proposes changes to the Internal Revenue Code
A February letter signed by the chair of the AICPA Tax Executive Committee (Association of International Certified Professional Accountants) recommended 61 changes to the...
New nominee for IRS Commissioner
Former Commissioner, Charles Rettig, announced his stepping down last October. The hunt has since been on for a new leader for the agency responsible...
AICPA seeks considerations for tax provisions
The American Institute of CPAs (AICPA) submitted a letter to the House Ways and Means Committee and Senate Finance Committee requesting immediate consideration of the treatment...
State rebates hold up filing – What preparers need to know
In an effort to extend COVID relief, several states issued rebate checks to residents in 2022. Some states decided to issue the rebates by...
IRS wins on Super Bowl squares
Millions of Americans munched on snacks and watched the Kansas City Chiefs square off against the Philadelphia Eagles. As with any sporting event, especially...
Lawmakers Receive Tax Proposals from AICPA
Members of the House Ways and Means Committee and Senate Finance Committee received recommendations on a number of legislative proposals courtesy of the American...
FASB votes to draft new standard to measure crypto assets
The votes are in. During its recent meeting, the Financial Accounting Standard Board (FASB) says it plans to issue an exposure draft of a...