News

AS 1000 replaces AICPA-provided standards, and QC 1000 considers the AICPA’s new quality management standards.

Now is the time to talk with high-net-worth clients about using the temporarily doubled estate and gift tax exclusion before its sunset in 2026, Bob Keebler, CPA/PFS, stressed in a webcast.

Board member Tricia Duncan of Jones & Roth PC encourages the profession to continue to innovate in how we bring new CPAs into the profession.

Building on busy season's lessons learned, CPA tax preparers and their firms can turn to optimizing performance going forward.

This week we look at: IRS gives update on final results for ERC voluntary compliance program and discusses the future; The taxpayer’s contract did not make payment contingent on the success of research; DOJ announces CPA firm barred from promoting CRAT/single premium annuity shelter; IRS provides information on CAF “under review status” and changes to requesting transcripts

The JofA Accounting Technology Roundtable panel posits that artificial intelligence isn’t the only technology trend making waves in accounting firms and finance departments.

The financial industry is built on sensitive information. Therefore, cybersecurity in the financial sector is critical. From basic customer details such as dates of birth, addresses, and phone numbers to more specific data such as bank information, financial institutions must have top-level safeguards to secure their customers' assets.

Internal Revenue Service Commissioner Danny Werfel described the 2024 tax filing season, at least from the IRS perspective, as "one of the best tax seasons."

More and more couples are choosing to skip marriage, even while raising children and owning property together. The lack of legal standing, however, means estate planning requires more thought and action.

Board member Michael Lortz looks forward to continuing the good work that OSCPA leaders have done in the past.

This week we look at: IRS releases Fact Sheet on disaster provisions for retirement accounts added by SECURE 2.0 Act; DC Circuit reverses Tax Court ruling that IRS does not have assessment authority for failure to file a report under IRC §6038(b) (Form 5471); Electric vehicle final regulations issued; Department of Justice begins process to move marijuana from Schedule I to Schedule III which would cause §280E to no longer limit deductions for cannabis businesses; Lack of any written records on time President/COO spent on activities or even estimate time spent on qualified research activities doomed attempt to claim a credit under IRC §41(a)

From racing in the fast lane to chairing the OSCPA Board of Directors, we're excited to share our first interview with John Hawkins, the 2024-25 Board Chair. In this interview, we'll explore John's professional journey, from his early accounting career to his current role as board chair. Delve into the key milestones, challenges, and wisdom he's gathered along the way.

As the 2024-25 Chair of the Board of Directors, John Hawkins is assuming a pivotal role in a time of transformation for the accounting profession. With over 38 years of tax expertise, John is well-equipped to navigate the challenges ahead and champion growth and resilience for the Oregon CPA community. Congratulations, John!

Board member Megan Kurz shares what she's looking forward to about serving on the Board this year.

This week we look at: Final regulations issued on credit transfer provisions of the Inflation Reduction Act; Tax Court rules the law does mandate a minimum level of attention by a supervisor when approving a proposed penalty; IRS announces the end of the Direct File pilot and will announce the next steps shortly

Could your people be your firm’s greatest retention asset? Five experts share why putting people first is the key to building the firm of your dreams.

As of July 1, 2024, an estimated one million employees who are currently salaried, exempt employees in the United States could be impacted by the salary threshold change. These employees, unless there is intervention by their employer, might become eligible for overtime pay under the Fair Labor Standards Act (FLSA) after working 40 hours in a workweek. According to the U.S. Department of Labor (DOL), another estimated three million could be impacted on Jan. 1, 2025.

Kelly Bosch is a proud 2nd generation Duck, and a key figure in propelling The University of Oregon Foundation forward. With her CPA expertise, passion for giving back, and deep-rooted alignment with UO's mission, Kelly is shaping a brighter future for students, faculty, and subsequent programs. Learn how her dedication and commitment to UO's mission are making a difference.

Meet Megan Howe and discover how she breaks barriers in the CPA profession as a deaf accountant at Hungerford Nichols CPAs + Advisors. When she's not crunching numbers, she is advocating for inclusivity and diverse success in the workplace. Reprint permission from Second Wave Media. Article by Kym Reinstadler.

This week we look at: IRS again waives penalties for certain RMD distributions for inherited IRAs and retirement plans, but indicates this should be the last time; FinCEN adds more Q&As to BOI FAQ for the first time since January