News

Students Noemi Green and Derek Dusome are winners of the Gleim CPA Exam Review Course Scholarship quarterly drawing for a complimentary review course valued at $2,999.

Taxpayers may be able to take advantage of new deductions that could reduce taxable income and increase refunds due to the One, Big, Beautiful Bill, passed by Congress in July 2025. Provisions from the new law can have a significant effect on federal taxes, credits and deductions.

The Department of the Treasury and the Internal Revenue Service issued proposed regulations that would revise the threshold for when certain third-party settlement organizations are required to perform backup withholding to comply with changes made in the One, Big, Beautiful Bill.

The Department of the Treasury and the Internal Revenue Service provided guidance on the “No Tax on Car Loan Interest” provision enacted under the One, Big, Beautiful Bill.

The Internal Revenue Service announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents in 2026, while the mileage rate for vehicles used for medical purposes will decrease by half a cent, reflecting updated cost data and annual inflation adjustments.

The IRS is providing implementation guidance on the One, Big, Beautiful Bill. Below are the expansions and changes to deductions affecting taxpayers as they prepare for the filing season.

The Department of the Treasury and the IRS issued Notice 2026-05 providing guidance on new tax benefits for Health Savings Account participants under the One, Big, Beautiful Bill (OBBB). These changes expand HSA eligibility, which allows more clients to save and to pay for healthcare costs through tax-free HSAs.

The Department of the Treasury and the Internal Revenue Service today issued Revenue Procedure 2026-6 allowing States, including the District of Columbia, to make an Advance Election to participate in a new tax credit for calendar year 2027. This new credit, established under the One, Big, Beautiful Bill, is for contributions to Scholarship Granting Organizations that serve elementary and secondary school students from low- and middle-income families.

Taxpayers who finalized an adoption in 2025 or started the adoption process before 2025, may qualify for the Adoption Tax Credit. Additionally, there have been significant changes to the tax credit under the One, Big, Beautiful Bill.

CPAs need to remain alert to compliance challenges, client misperceptions, and liability exposures as the IRS and state taxing authorities continue to issue implementing guidance for the recently enacted One Big Beautiful Bill Act (“OBBB Act”).

Hear how returning chapter chair Carolyn Thompson is inspired by, and making a difference in, the South Coast CPA community.

Hear chapter chair Nate Reagan's thoughts on what makes the Mid-Columbia region the ultimate place to work.

The Department of the Treasury and the Internal Revenue Service today issued Notice 2026-05 providing guidance on new tax benefits for Health Savings Account participants under the One, Big, Beautiful Bill. These changes expand HSA eligibility, which allows more people to save and to pay for healthcare costs through tax-free HSAs.

The new year is less than a month away which means the 2026 tax filing season is drawing near. The IRS encourages taxpayers to “Get Ready” and start preparing now. Taking a few steps today can save time and help taxpayers ensure they’re filing accurate returns in the coming months.

The Department of the Treasury and the Internal Revenue Service issued guidance for workers eligible to claim the deduction for tips and for overtime compensation for tax year 2025.

The IRS is reminding tax professionals to renew their Preparer Tax Identification numbers now, if they haven’t already. Anyone who prepares or helps with preparation of tax returns for compensation must have a valid PTIN. Unrenewed PTINs will expire on December 31, 2025.

Boost productivity. Manage schedules. Develop marketing materials. Create a viral video. Whatever it is that you need to do today, there’s an app to help you get it done. GSCPA’s Director of Technology & Multimedia Services Calvin Wong shares some of the newest apps he has tested to help save you time and money, and maybe even impress your kids with your new skills.

Minnesota CPA Susan Schulzetenberg shares her experience with succession planning and her decision to merge with another accounting firm.

The Internal Revenue Service announced increases to annual contribution limits for 401(k) plans, 403(b) plans, governmental 457 plans, the federal government's Thrift Savings Plan, and IRAs.

The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2026.