News

Believe it or not, accountants are cool. Really, we are. We do much more than crunch numbers. We drive innovative solutions and positive change to help individuals and businesses reach their goals and navigate the ever-changing landscape.

;OIRA is no longer going to review IRS regulations before issuance ;IRS updates list of automatic accounting method changes ;Proposed regulations issued on transfers of certain energy credits and DirectPay for certain credits ;What can go wrong with an employee retention credit refund claim?

Firms should not just accept persistent tech issues.

We put ChatGPT to the test with hypothetical tax questions. See if you think it's ready to compete with a CPA.

Many people move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return.

When taxpayers disagree with the IRS's decision on their tax situation, they can submit a written request to have the IRS Independent Office of Appeals review the decision. The goal of Appeals is to resolve tax disputes outside of the courtroom in a way that is fair and impartial and encourages voluntary compliance with tax law. This office is separate from the rest of the IRS in order to ensure its impartiality.

This week’s topics: ;3 proposed tax bills introduced by Chair of House Ways & Means Committee ;Wellness indemnification payment is taxable income to employee and subject to payroll taxes ;IRS grants request to make election to skip claiming bonus depreciation when partnership discovers claiming bonus is bad news at the state level for certain partners

Learn more about an accountant in Montana who changed the conversation about health care policy when her penchant for numbers saved the state's employee health plan millions without increasing member or employer contributions.

With more work to do than accounting staff can deliver, deploying new technologies is key to meeting client demands—here are three to consider.

Inevitably, business owners will not be paid on time by customers and clients. Using an efficient system to collect payments while providing clients and customers with a good experience is critical.

This week's topics ;Fourth Circuit does not agree with view expressed by Seventh Circuit in Menard, Inc. that C corporation reasonable compensation only depends on a reasonable return to investors ;Eleventh Circuit holds that “hobby loss” expenses under §183 are miscellaneous itemized deductions ;Elderly attorney had reasonable cause for failure to file payroll tax returns and timely pay payroll tax liabilities

As more businesses embrace ESG standards, it's important to understand the concept and identify its implications for the accounting profession.

As summer break approaches for students, the Oregon Department of Revenue wants taxpayers to know that some childcare expenses, including day camps and childcare provided inside or outside your home, might qualify you for the Oregon working family household and dependent care (WFHDC) tax credit. Qualifying expenses don’t include summer school or tutoring, sports camps, and overnight camps.

Testing news articles

This week's topics: ;Tax Court finds they have no authority to review the IRS notice for certification of seriously delinquent tax debt to State Department ;IRS publishes warning signs for employers to use to identify ERC scams ;Fourth Circuit finds that Section 7502 fully supplants common law mailbox rule for filing documents

The AICPA offers exclusive credentials for qualified financial professionals that can differentiate you as having knowledge and expertise in a specialty practice area, giving you, your firm or your organization a competitive advantage. Learn more at aicpa.org/credentials

While many clients are reluctant to buy an annuity that won’t start making payments for 15 or 20 years, retirement researchers tout this as an effective strategy to prevent outliving one’s retirement savings.

How Claire Pahlmeyer uses her love of puzzles in her day-to-day work at Kernutt Stokes, Eugene.

It’s not too late for the 1.5 million taxpayers with unclaimed 2019 refunds to claim their cash, but they need to file soon. The IRS extended the deadline for 2019 tax returns to July 17, 2023.

Cannabis companies need accounting support to remain compliant and keep their licenses, but there's some hesitancy for professionals like CPAs to provide services to this industry.