IRS May 29, 2026
IRS Increases Health Savings Account Limits for 2027
The IRS on Friday released its annual inflation-adjusted amounts for health savings accounts for calendar-year 2027, with across-the-board increases.
December 9, 2020
How Can CPAs Adapt to Changing Client Needs?
Accounting firms must embrace new technology to continue to enhance their value for clients. In a recent survey, 66 percent of accountants said their firms needed to utilize technology more to compete. Advances in technology can provide new ...
December 9, 2020
Sovos Acquires Payroll Tax Software Company LTtax
Global tax software provider Sovos has acquired LTtax, a New York-based provider of payroll withholding and unemployment tax software serving some of the largest retailers, financial institutions and insurers operating in the United States.
December 8, 2020
Housing Demand Likely to Stay High for Years to Come
Low rates of household formation since the Great Recession have caused 5.7 million "missing" households, a new Zillow analysis finds. These missing households represent people who historically would have moved into their own home but have been unable...
December 8, 2020
The Importance of Disability Inclusion in the Workplace
This year also marks the 30th anniversary of the passing of the Americans with Disabilities Act (ADA). The ADA prohibits discrimination against individuals with disabilities in all areas of public life, including jobs, schools, transportation and ...
December 8, 2020
Retirement Tax Tips: How to Decide on RMDs for 2020
Normally, retirees in their seventies or older arrange to receive required minimum distributions (RMDs) from retirement accounts at the end of the year. Otherwise, they could be held liable for a severe tax penalty, on top of the ...
December 8, 2020
Is Captive Insurance the Right Fit for Your Clients?
If the turmoil of 2020 has shown businesses anything, it’s that they should have been better protected and most businesses could have benefited from more insurance and more money. The pandemic and riots have forced thousands of businesses into ...
December 8, 2020
Secure Your Firm’s Future with Leadership Development
Leadership is the cornerstone of your firm’s future. A question all firm owners should be asking is: how is your firm’s foundation for ensuring long-term success and growth?
December 8, 2020
IRS Interest Rates to Stay Unchanged in Q1 2021
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
December 8, 2020
Bill.com Releases 2020 State of Bookkeeping Practices Survey Revealing an Industry Anticipating Growth
Despite the COVID-19 pandemic, the survey revealed that firms are excited about the future, with 80 percent of respondents saying they expect significant growth through 2022. Much of this growth can be attributed to cloud technology changing the way ...
December 8, 2020
IRS Sets Feb. 1 Deadline for W-2, 1099-NEC Forms; March 31 for 1099-MISC
For the upcoming tax season, employers that they must file Form W-2 and other wage statements by Feb. 1, 2021, to avoid penalties and help the IRS prevent fraud.
December 8, 2020
A Hidden Trap in Charitable Deduction for Nonitemizers?
The IRS has just reminded nonitemizers that they may be able to claim a special deduction for charitable contributions in 2020 (IR-2020-264, 11/25/20). But it failed to mention that married couples filing jointly may be penalized.
December 8, 2020
New Organizer Features Added to CCH ProSystem fx Engagement
Wolters Kluwer Tax & Accounting has announced the addition of new features to the Engagement Organizer in its award-winning CCH® ProSystem fx® Engagement integrated audit management solution. With new Engagement Organizer capabilities, clients can now ...