News

This week we look at: Ninth Circuit rules that statute of limitations for the IRS to sue for recovery of erroneous refund begins when the check clears the Federal Reserve and is approved for payment by the US Treasury; IRS National Taxpayer Advocate announces the IRS will automate FTA abatement of penalties beginning in 2026; Attorneys report some ERC claimants now interesting in filing suit to accelerate their claim processing

Recognizing the links between risk management and litigation can help CPAs understand why risk management advice speaks to behaviors present in professional liability claims against CPAs.

Portland State University student Lindsey Ivie is the winner of the Becker Professional Education quarterly drawing for a complimentary review course valued at $2,499.

This week we look at: The Supreme Court rules, in a more divided than it may appear opinion, that the §965 transition tax is Constitutional, sustaining the result from the 9th Circuit in the Moore case; IRS gives interim guidance for special distribution relief in the SECURE Act 2.0 for certain distributions; IRS indicates it will now be (slowly) processing ERC claims, vast majority show issues.

The IRS will deny tens of thousands of the most obvious erroneous claims in the coming weeks, the Service said.

While summer is a time for fun, it’s never the wrong time to thinking about taxes – and some of those summer activities could have an impact. Here are a few summertime activities and tips on how taxpayers should consider them for filing season.

For any tax professional who has ever had to review a client’s expenses for repair, acquisition, or production of tangible property, the question of whether to capitalize or expense is one that continues to stump even the most experienced CPAs due to the subjectivity involved and heavy reliance on facts and circumstances. This article addresses this issue along with some key points CPAs and taxpayers should consider.

With federal and state tax laws becoming more complex each year, and pillars of the profession retiring, Karissa Swenson sees there is more and more of a need for CPAs in our communities.

The workplace has come a long way. As expectations have shifted — allowing for more flexibility and requiring less formality — you might be wondering if joining a professional organization is still relevant or just part of the old-school workplace culture.

This week we look at: IRS provides last-minute relief for payment of second-quarter corporate estimated tax payments related to corporate alternative minimum tax; En-banc rehearing request denied in case of Farhy v. Commissioner by DC Circuit; CPA pleads guilty to tax charges related to syndicated conservation easement program; Taxpayer Advocate warns of relying on generative AI for answering tax questions for consumer tax software - and there are just as big of issues for tax professionals.

Inspired by his family to pursue the profession, new CPA Aaron Hiddleson considers his credential to be the "icing on the cake" of his accounting journey. As a governmental auditor for Oregon State, he thrives on the daily challenges and rewards of his 9-5.

Let your CPA license be your passport to success! Diana Bautista of Connected Professional Accountants LLC recently obtained her CPA license, motivated by her family's strong work ethic. She encourages the next generation of CPAs to embrace the endless opportunities this credential offers.

The Internal Revenue Service has announced several new policy updates now that tax season has ended.

Here's a step-by-step guide to calendar blocking.

This week we look at: US Supreme Court rules that a requirement to redeem the decedent’s shares cannot be considered to reduce the value of the entity, but life insurance proceeds received by the entity to fund the buyout will increase the value; Taxpayer denied relief for late rollover when funds were accidentally transferred from employer plan to Roth IRA; IRS rules certain payments related to East Palestine, Ohio derailment are §139 disaster payments; What options exist for an employer with a pending ERC claim?

Hobbies and businesses are treated differently when it comes to filing taxes. The biggest difference between the two is that businesses operate to make a profit while hobbies are for pleasure or recreation.

Helping the growing demographic of childfree individuals and couples plan their financial futures requires a shift in perspective.

A learning development adviser shares perspective on the qualities that truly matter for great leadership. Here’s a hint: You don’t have to be a “people person” to thrive.

This week we look at: IRS announces that Direct File will continue into 2025 and be expanded while maintaining other programs; A taxpayer finds its not so simple as just file a Form 2553 if you want to have an LLC taxed as an S corporation, but did realize the error fast enough to get a PLR to restore S status

From cherished family traditions to navigating the complexities of identity in the workplace, Roy Matsunaga of Deloitte & Touche LLP sheds light on his journey and commitment to elevating AANHPI voices in professional spaces.