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.
April 9, 2021
Virtually Fraud-Proof: Why Now is the Time to Grow Your Virtual Card Program
One of the business stories coming out of the last year is the dramatic growth of electronic supplier payments. In Q4, Nacha, National Automated Clearinghouse, reported a 15 percent year-over-year increase in B2B ACH payments.
April 9, 2021
Don’t Wait To Remediate: Taking A Proactive Approach as PCAOB Inspection Reports Lag
Is your firm one of the hundreds waiting for the issuance of a Public Company Accounting Oversight Board (PCAOB) inspection report? You are in good company as more firms join this group weekly. Since peaking at 344 inspection reports in 2011, the PCAOB’s pace for issuing inspection reports slowed to a trickle of only 46...…
April 9, 2021
5 Tips for Nonprofit Success in PPP Loan Forgiveness — Meeting, Navigating and Reporting for PPP Loan Forgiveness
While nonprofits are navigating 2021 resiliency for their missions, internally, nonprofits and organizations are also preparing the reporting trail for a smooth PPP Loan Forgiveness process.
April 9, 2021
Avantax Welcomes Legacy Capital Advisors, LLC
Led by Managing Partners Chris Kirkland and Kevin Kelly, Legacy Capital Advisors serves a diverse client base ranging from retirees or soon-to-retire clients for whom income generation is key, to clients earlier in their investing cycle who often are ...
April 9, 2021
Moynihan Accounting Scholarship Fund’s COAP Applications Are Now Open
The MSF also provides direct scholarships, in addition to its ongoing sponsorship of the COAP program. COAP is a three-decade-old program, pioneered by CPAs, reaching out to high school students throughout the state of New York. It introduces promising...
April 9, 2021
6 Proactive Practices To Prepare Your Clients For 2022
Risk mitigation is a foundational concept in most business schools, MBA and Master of Accounting programs, yet as much as it’s drilled in the psyches of students and accountants alike, the reality is most businesses are woefully underprepared for risks. While 2020 may have given us a one in 100-year event, one only has to...…
April 9, 2021
IRS Offers Guidance on 100% Business Tax Deduction for Food and Beverages
The Treasury Department and the Internal Revenue Service have issued Notice 2021-25 providing guidance under the Taxpayer Certainty and Disaster Relief Act of 2020. The Act added a temporary exception to the 50% limit on the amount that businesses may ...
April 9, 2021
IRS Makes Executive Changes to Implement Taxpayer First Act
These leadership changes are part of a larger effort underway at the IRS to continue work on the Taxpayer First Act, which includes work to reimagine the agency’s tax administration and work to improve taxpayer service and enforcement.
April 9, 2021
Avalara CRUSH Virtual Keynote and Featured Speakers Announced
This year’s event will be hosted by award-winning documentarian, journalist, speaker, author, and philanthropist Soledad O’Brien, CEO of Soledad O’Brien Productions, and Scott McFarlane, co-founder and CEO of Avalara.
April 9, 2021
IRS Reminds that Residents of U.S. Territories Can Also Receive Unemployment Tax Exemption
If they receive unemployment compensation payments that are otherwise subject to U.S. income tax, they may be eligible to exclude up to $10,200 per person of unemployment compensation from U.S. income tax for 2020, following legislation that was...
April 8, 2021
Paying People Properly
The failure to correctly pay employees as required by the Fair Labor Standards Act (FLSA), as well as similar state wage and hour laws, causes the most frequently filed style of lawsuits by employees against their employers.
April 8, 2021
Accounting Firm PBMares Names New Partners
PBMares, LLP, a Top 100 accounting and consulting firm based in Newport News, VA, elected two new tax partners to the Firm. Ronald H. Pachino and Tracey Powell were each promoted to Partner, effective January 1, 2021.