News

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.

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.

The Department of the Treasury and the Internal Revenue Service issued guidance providing penalty relief to employers and other payors for tax year 2025 regarding new information reporting requirements for cash tips and qualified overtime compensation under the One, Big, Beautiful Bill.

For many executives and long-term employees, company stock has been the cornerstone of their financial success. Years of stock awards, option exercises, and reinvested dividends can turn into a position worth millions. While this looks like a dream scenario on paper, it carries a hidden challenge: too much of a client’s wealth tied to a single company.

The risk of cyber threats continues to grow for CPA firms, along with other professional services firms, as all are considered prime targets for cyber criminals given the wealth of sensitive client data, financial information, and/or legal documents they maintain.

We often define community as strength in numbers, mutual protection, and a shared voice. OSCPA embodies all of that. But there’s also a deeply personal benefit: the impact membership can have on your own career.

The Internal Revenue Service today reminds the more than 800,000 paid tax preparers that preparer tax identification numbers must be renewed annually, and the 2026 renewal period is now open.

The Department of Revenue (DOR) is getting questions from pass-through entities that have received a Notice of Adjustment related to estimated Pass-Through Entity Elective (PTE-E) payments.

Social Security benefits and Supplemental Security Income (SSI) payments for 75 million Americans will increase 2.8 percent in 2026. On average, Social Security retirement benefits will increase by about $56 per month starting in January.