News

Identity thieves may try to contact taxpayers through fraudulent calls, emails, texts and social media messages pretending to be the IRS. Here’s how taxpayers know when it’s the IRS that contacts them.

Want to mark a spreadsheet as a draft or as confidential? This Technology Q&A article shows several ways to create a watermark in Microsoft Excel.

By creating a standout yet professional profile and taking a strategic and careful approach to posting, accountants can build influence on social networks.

This week we look at: FinCEN adds two more questions to BOI FAQ page; IRS adds five new warning signs for problematic ERC claims and announces new developments coming in ERC enforcement; Chief Counsel Memorandum outlines position on tax exempt organizations dealing with §52 provisions for ERC

Experts examine how CPAs can help clients meet increasing demand in a difficult fundraising and staffing environment.

It's all too easy to become consumed by our screens, losing touch with the human connections that are vital to our work.

This week we look at: Taxpayer can’t simply rely on tax software when preparing their return, even if they aren’t being nominated for Secretary of Treasury; IRS finalizes SECURE Act/SECURE 2.0 Act required minimum distributions regulations; IRS proposed regulations address the problem of determining the applicable age for those born in 1959

Estate planning is a crucial aspect of financial management, especially for residents of Oregon, where state-specific estate taxes can significantly impact the transfer of wealth. Understanding the nuances of the Oregon estate tax and implementing effective estate planning strategies can help mitigate tax liabilities and ensure a smooth transition of assets to beneficiaries. This article discusses the complexities of the Oregon estate tax and offers comprehensive estate planning strategies for 2024.

The final regulations reflect changes to the required minimum distribution rules made by the SECURE Act and SECURE 2.0 and generally follow proposed regulations issued in 2022.

Guidelines have emerged for assessing value-added taxes in the global digital economy, although jurisdictions employ their own approaches to enforcing them.

The Department of the Treasury and the Internal Revenue Service today issued final regulations updating the required minimum distribution (RMD) rules.

A roundup of the most important court cases, regulations and more in tax for the first six months of the year.

Members of the AICPA Tax Practice Management Committee discuss what they wish had been clearer to them before they became partners in their firms.

Accounting is about numbers. It’s about noticing trends (in the numbers) and sharing insights (about the numbers) and using your judgment (to properly value the numbers). As an accountant, you spend a lot of your time (a lot of your life!) working with numbers. But you don’t do it alone. None of us do.

Negligence and litigation basics were introduced in Part I of this two-part series (see “Falling Hurts; So Does Litigation,” JofA, June 2024). In litigation, the plaintiff must prove everything.

This week we look at: FinCEN updates the FAQs for BOI reporting, adding information about entities that cease to exist; New Jersey Committee on Unauthorized Practice of Law releases letter outlining when CPAs and EAs may prepare and/or file BOI reports for clients without the assistance of an attorney; Another PLR issued for missed ESBT elections for trusts that qualified to make such elections

Most recent peer review insights suggest that insufficient or inadequate documentation was the most common problem in not-for-profit audits, but better planning could prevent deficiencies.

The Government Accountability Office recently found that some populations may be getting selected for IRS audits at a higher rate than others.

As the accounting industry grapples with a significant talent shortage, a comprehensive report from MassCPAs sheds light on the critical issue of diversity, equity, inclusion and belonging (DEIB) challenges and opportunities within the profession. The report, “Workplace Inclusion: An Imperative for Change in the Accounting Profession,” by Trish Foster, highlights the need for more inclusive workplace cultures to stem the tide of professionals leaving the field.

Practitioners who once contemplated changing professions share strategies that changed their lives for the better — at the office and away from it.