News

This week we look at: President signs the two tax bills Congress recently passed; DOJ asks for stay of injunction issued by US District Court in Texas on enforcement of the CTA; IRS expands Business Tax Account access and services that can be accessed via that account

In today’s competitive business environment, employers in all professions and industries—including CPA firms—are constantly seeking ways to enhance their performance, innovation, and overall effectiveness. One often-overlooked strategy is the inclusion of neurodiverse employees, particularly those with Autism Spectrum Disorder. By tapping into this underutilized talent pool, CPA firms not only can address skill shortages but also bring unique perspectives and strengths to their teams.

More revenue often means more people are needed to keep the organization’s finance function running. But how do you know if staffing levels in your finance department are aligned with standards for your industry and organization size?

More than 3 in 5 business executives surveyed by AICPA & CIMA are at least contemplating the use of generative AI, signaling that broad adoption could be around the corner.

Guidance on how HSA contribution rules intersect with Medicare enrollment is limited, with many clients receiving conflicting answers from HSA providers, Medicare and Social Security representatives, and even their own tax professionals. This article answers three of the most common questions that JofA readers asked in response to an earlier article.

Diego Arellano-Barocio, a student at Western Oregon University is the winner of the Gleim CPA Exam Review Course Scholarship quarterly drawing for a complimentary review course valued at $2,999.

Professional liability claims involving missed due dates are rising at alarming rates. Find out what CPAs can do to protect themselves.

Finding the Corporate Transparency Act "likely unconstitutional," a federal district court prohibited its enforcement and the enforcement of its accompanying regulations.

Portland City Council voted to unanimously amend the Portland Clean Energy Fund's Climate Investment Plan to increase its five-year spending budget to more than $1.5 billion — up from $750 million when it was first approved. The fund imposes a 1% tax on large retail businesses in Portland.

As artificial intelligence continues to become more prevalent in every aspect of our lives, experts say now is the time to ensure you have an AI policy to protect your organization, your employees and your clients.

With more than 800,000 Preparer Tax Identification Numbers set to expire on Dec 31, 2024, the IRS recommends tax professionals renew their PTIN now with the IRS Tax Professional PTIN system.

Like many industries during the pandemic, CPA firms witnessed a wave of early retirements as owners chose to exit the business world. The Great Resignation impacted companies significantly, and for an industry already grappling with succession challenges, an early mass exit by the baby boomer generation set the stage for a dramatic shift in ownership, potentially up to 49 percent in the coming years.

The accounting profession is at a crossroads, facing a pivotal moment in which it must redefine its value and sustainability to remain relevant in an ever-evolving business landscape. One of Carla McCall's key platforms as AICPA chair is focused on this very issue, emphasizing the need to rethink how the profession is perceived and how it operates.

Following feedback from taxpayers, tax professionals, and payment processors and to reduce taxpayer confusion, the Internal Revenue Service delayed the new $600 Form 1099-K reporting threshold requirement for third party payment organizations for tax year 2023 and is planning a threshold of $5,000 for 2024 to phase in the new law.

The Internal Revenue Service today reminded those aged 73 and older of the deadline to take Required Minimum Distributions from Individual Retirement Arrangements (IRAs) and other retirement plans, and highlighted updates introduced by the SECURE 2.0 Act.

Worried parents can obtain peace of mind with a realistic savings strategy for both retirement and their children’s college education. Here are some approaches advisers can recommend.

This week we look at: Congress enacts two tax laws: but neither is the big one that passed the House in January but stalled in the US Senate; A Texas US District Court has issued a nationwide temporary injunction barring FinCEN from enforcing the BOI reporting regime; DOJ files a notice of Appeal of the Texas Top Cop Shop Inc decision and FinCEN posts information regarding the impact of the case on BOI reports

Firms in CPA.com’s CAS Benchmark Survey report a significant increase in median revenue and project an increase of nearly 100% over the next three years.

"You never know how a simple ‘thank you’ might impact your career". As a past recipient of The OSCPA Educational Foundation, Sheila Landis shares how her scholarship influenced her outlook and values as a CPA.

Tax professionals should always be evaluating and adjusting their WISP based on relevant circumstances, changes in the firm's business or operations or the results of security testing and monitoring.