Caution on college debt deductions
There remains myriad potential tax benefits for students, and parents of students making payments for college tuition and/or towards student loan indebtedness. But making...
AICPA endorses bipartisan bill to expand use of 529 Savings Plan
The American Institute of CPAs (AICPA) expressed its support of H.R. 1477, the Freedom to Invest in Tomorrow’s Workforce Act. The bipartisan bill would expand eligible...
Remote work causing state tax disagreements
State nexus issues have no doubt been extremely complex ever since the well-known Wayfair case. More recently, post-pandemic remote work has exploded and started...
R&D Credits – What small business clients are missing
Small businesses often face challenges when it comes to funding research and development (R&D) initiatives. Additionally, many small businesses don’t realize that R&D credits...
IRS strategic plan released
The IRS released its most recent strategic operating plan earlier this month. The plan is a milestone for newly appointed commissioner, Danny Werfel, and...
IRS warns of filing season scams involving Form W-2 wages
The Internal Revenue Service (IRS) issued a consumer alert today to warn taxpayers of new scams that urge people to use wage information on...
TPN Rewind: New data security plan will help tax professionals
A special new sample security plan designed to help tax professionals, especially those with smaller practices, protect their data and information is on the...
What you need to know about TikTok and taxes
There is no doubt that you can find a video to DIY just about anything now. Social media is full of how to’s, influencer...
TPN Rewind: IRS WISP Requirements
There may not be significant new tax legislation coming down the pipeline this tax season compared to the last two years. The IRS is...
New MassCPAs study shows state rapidly losing residents
A new survey by the Massachusetts Society of Certified Public Accountants (MassCPAs) shows that thousands of high-income state taxpayers plan to relocate from the...
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Adjustments sought for R&D Tax Credit Form
There are changes coming to certain sections of Form 6765, Credit for Increasing Research Activities—the document used by taxpayers to claim the research and...
AICPA requests IRS contingency plan in case of government shutdown
The American Institute of CPAs (AICPA) submitted a letter to the Department of the Treasury, the Internal Revenue Service (IRS) and Congressional leadership requesting the release of the...
Fearing the future: Where firms are falling behind
This past weekend, Botkeeper hosted AI Unchained in Boston. The three-day event was centered around technology for accountants and bringing your practice to the next level....