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.
March 31, 2021
Some Will Receive Second IRS Tax Refund in May
The IRS will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan.
March 31, 2021
The Workplace of the Future
The last year has come with unprecedented challenges but also brought great opportunities for innovation and growth. For small to mid-sized accounting firms, the workplace of the future will continue to evolve and look different than the past.
March 31, 2021
New York State Legalizes Recreational Marijuana
Adults over 21 will also be allowed to grow marijuana at home. It will be a while before legal sales begin or plants are allowed to grow as the newly-created Office of Cannabis Management is formed and finalizes rules and regulations.
March 31, 2021
IRS Says Taxpayers Should Not File Amended Tax Returns Due to Stimulus Law
The IRS is strongly urging taxpayers to not file amended returns related to the new provisions in ARPA or take other unnecessary steps at this time.
March 31, 2021
Two Success Stories for Starting Your Own CPA Firm
Now that tax season is in full swing for many practitioners, you may find yourself questioning if this is the right time to break off and explore starting your own CPA firm.
March 31, 2021
College Students Warned of IRS Scam
Taxpayers who believe they may have provided identity thieves with this information should consider immediately obtaining an Identity Protection PIN. This is a voluntary opt-in program. An IP PIN is a six-digit number that helps prevent identity ...
March 31, 2021
Emergency Financial Aid Grants to College Students are Not Taxable, Says IRS
The Internal Revenue Service has issued frequently asked questions on how students and higher education institutions should report pandemic-related emergency financial aid grants.
March 30, 2021
The Tax Blotter – March 31, 2021
The Tax Blotter is a round-up of recent income tax news.
March 30, 2021
Hosting Video Calls in a Changed Business World
Doing business during a pandemic is a new experience for everyone and there isn’t a rulebook for how to navigate this new normal. Many virtual meetings can be frustrating and ineffective, but with a little thought and preparation they can be made ...
March 30, 2021
Where’s My Stimulus Payment? IRS Says Social Security and Other Program Recipients Will Receive Theirs Soon
Payments will begin to be issued this weekend to Social Security recipients and other federal beneficiaries who do not normally file a tax return, with the projection that the majority of these payments would be sent electronically and received on April 7
March 30, 2021
Picassos or Teeny Beanie Babies: NFTs Providing “Ownership” of Digital Assets
With NFT sales skyrocketing, it won’t be long before tax ramifications come into play which accountants need to be prepared for. Considerations such as whether a sale is subject to short or long-term capital gains become increasingly complex as ...
March 30, 2021
The Best Retirement Savings Options for 20-Somethings
Your 20s are the optimal time to take advantage of compound growth. A dollar invested at 25 has 45 years to grow before you retire at 70. A dollar invested at age 40 has just 30 years. Sounds like a big “so what?” It’s anything but.