News

Although most agree that the current tax season has signs of returning to normalcy after the pandemic-induced chaos of recent years, CPA firms continue to face unique challenges and risks they should not ignore.

Items that should be on your tech radar to help you and your team succeed in an ever-changing environment. Specifically, we will address five technologies that should be on your tech radar today.

This week's topics: FinCEN provides guide to small businesses for beneficial ownership reporting under the Corporate Transparency Act;Taxpayer cannot rely on the mailbox rule to prove timely mailing/filing of tax return, as §7502 is the sole way of proving timely postmark and get presumption of delivery;Impact of receipt of a CP2100/2100A notice on backup withholding

This week's topics: Just having a CPA prepare a taxpayer’s return does mean the taxpayer will get reasonable cause relief for assessments;IRS announces halt to processing of new ERC claims until after 2023, will slow processing of claims currently in progress

Fraudsters and cybercriminals are increasingly leveraging AI algorithms and techniques to perpetrate sophisticated scams, manipulate systems, and exploit unsuspecting individuals and organizations.

Diversity, equity and inclusion (DEI) efforts have swept the accounting nation and generally take the form of inclusiveness among different races, genders and abilities. Neurodiversity is another piece of the DEI pie.

This week's topics: IRS make last minute change to K-2/K-3 FAQ for 2022 returns;Preliminary guidance for §174 changes made in TCJA that took effect in 2022 issued by the IRS

As someone who enjoys working just outside his comfort zone, Jordan Brewer, recipient of the Anna L. May Endowment scholarship from The OSCPA Educational Foundation, is inspired by the endless possibilities of his future CPA career.

This week's topics: HHS sends letter to DEA recommending that marijuana be reclassified as a Schedule III drug;General guidance issued determining tax status of 2023 state payments - and IRS asks for comments prior to giving additional guidance;IRS clarifies limits of 2007 CCA on ESBTs and NOLs;News release on electronic filing of Form 8300

See who has inspired Carter Cunningham, University of Oregon accounting student and a 2023 recipient of the John & Catherine Knox Scholarship from The OSCPA Educational Foundation.

2023 Hoffman, Stewart & Schmidt PC Scholarship recipient from The OSCPA Educational Foundation, Zackary J. Alcoser is dedicated to achieving CPA status while ensuring he continues to be the best version of himself for his wife and kids.

This week's topics: Proposed regulations issued for digital asset broker reporting on Form 1099-DA;IRS delays requirement for high income employees to make employer plan catch-up contribution to designated Roth accounts until plan years beginning after December 31, 2025;2024 health care premium tax credit percentages published by the IRS

Teachers often buy classroom supplies with their own money. The Educator Expense Deduction helps them get some of that money back. Eligible teachers and administrators can deduct part of the cost of technology, supplies and training from their taxes. They can claim this deduction only for expenses that weren't reimbursed by their employer, a grant or other sources.

2023 recipient of the Jay Richardson Memorial Scholarship from The OSCPA Educational Foundation, Forrest M. Cooley strives for constant improvement and setting new milestones as he finds success on his journey to becoming a CPA.

Recipient of the 2023 SingerLewak LLP Scholarship from The OSCPA Educational Foundation, Sydney E. Berrey defines success as helping others succeed despite their unfamiliarity with finance and accounting.

From buy-sell to practice continuation agreements, find out how you can prepare your business for the unexpected.

Client accounting services for CPAs come in all shapes and sizes, depending on what clients want and need.

This week's topics: Limited relief likely coming for beneficial ownership reporting;IRS being challenged in an attempt to treat state law limited partners as receiving SE income;Rent your home to your business for 13 days each year plan mainly failed;Advance memo states IRS objection to a marketed trust tax avoidance plan;IRS memo explains credit unions can only claim COVID ERC on 2021 wages

As CPAs, we are often seen as advisors by our clients for business-related matters. This is why we need to familiarize ourselves with Metaverse, how this virtual environment can add value to our clients and how CPAs should leverage this technology.

Southern Oregon Chapter Chair Matthew Bowers shares how infamous fraud scandals became a source of inspiration for him to pursue the CPA profession.