Latest Articles

July 17, 2020 

Digital assets are defined broadly as digital records, made using cryptography for verification and security purposes, on a distributed ledger. Although all industries encounter change, the digital assets ecosystem is evolving rapidly.

July 17, 2020 

This year, the Dirty Dozen focuses on scams that target taxpayers. The criminals behind these bogus schemes view everyone as potentially easy prey. The IRS urges everyone to be on guard all the time and look out for others in their lives.

July 17, 2020 

The IRS issues nine out of 10 refunds in less than 21 days, and the fastest way to get a refund is to use IRS e-file and direct deposit. Taxpayers should also know they can have their refunds divided into up to three separate accounts.

July 17, 2020 

In March 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide emergency assistance and healthcare response for individuals, families, and businesses affected by the Coronavirus pandemic. The Small Business Administration (SBA) received funding and authority through the CARES Act to modify existing loan programs to assist small businesses...…

July 17, 2020 

Anyone who prepares or substantially helps prepare any federal tax return or claim for refund for compensation must have a valid PTIN from the IRS. The PTIN must be used as the identifying number on returns prepared. Failure to have and use a valid PTIN m

July 16, 2020 

The sudden shift to remote work for many corporations in response to Covid-19 may lead to costly compliance burdens as 36 state tax departments indicate that having just one employee telecommuting from their state will create nexus for ...

July 16, 2020 

Software that helps accountants close the monthly books was once a nice-to-have technology, but the global pandemic has accelerated demand for such tools across industries.

July 15, 2020 

The NYU School of Professional Studies (NYU SPS) Division of Programs in Business (DPB) will host a series of in-depth Zoom webinars on wide-ranging topics from Advanced Subchapter S to Trust and Estates...

July 15, 2020 

Accountants have long been the financial scorekeepers for businesses and have benefitted significantly from the past decade of economic growth and prosperity. But as we know, COVID-19 has had a major impact on the economy, fundamentally changing the way accountants can support their business clients. More than ever, clients don’t need another scorekeeper—they need financial...…

July 15, 2020 

Proposed regulations that implement new section 451(b) & (c) provide procedures for a taxpayer to change its method of accounting and provide clarification related to proper revenue recognition.

July 14, 2020 

Because of the burdens the COVID-19 pandemic has placed on hospitals, the Internal Revenue Service is giving additional relief to hospital organizations that must meet the Community Health Needs Assessments (CHNA) requirements.

July 14, 2020 

The Treasury Department and the IRS have released a proposed redesigned partnership form for tax year 2021 (filing season 2022). The proposed form is designed to provide greater clarity for partners on how to compute their U.S. income tax liability ...