Taxes June 1, 2023
IRS, Treasury Provide More Guidance for Advanced Energy Project Credit
The qualifying advanced energy project credit program was re-established last year by the Inflation Reduction Act.
Accounting June 1, 2023
Debt Limit Bill Passed in House, Expected to Clear Senate, Reducing Threat of Default
The hard choices on how to adjust government services are mostly left to Congress to negotiate in separate spending packages due before the Oct. 1 start of the next federal fiscal year.
Small Business May 31, 2023
Bipartisan Bill in Ohio Would Legalize Recreational Marijuana
The Regulate Marijuana Like Alcohol coalition is gathering signatures across the state in hopes of qualifying for the November ballot. Ohio already has a medical marijuana program.
Taxes May 30, 2023
IRS Alerts Business Owners About ERC Scam
The agency says marketing fraudsters are misrepresenting and exaggerating who can qualify for the employee retention credit.
Taxes May 29, 2023
Debt Limit Deal Includes Cut in IRS Funding, Other Measures
Biden and McCarthy announced a deal to increase the government's debt limit, enabling the nation to avoid a debt default and economic turmoil.
Accounting May 27, 2023
Biden and McCarthy Reach Tentative Debt Limit Deal
The deal struck Saturday night offers a lot for the two parties not to like, from expanded work requirements for food stamps opposed by Democrats to higher spending levels than conservatives demanded.
Taxes May 25, 2023
Democrat and Republican Representatives Introduce Bill to Simplify Tax Extensions
The bill would allow taxpayers to automatically qualify for an extension without fear of penalty by paying a simple, easily-calculated amount of 125 percent of their prior year’s tax liability.
Small Business May 23, 2023
New Jersey Considers Tax Cuts for Seniors and Businesses
New Jersey is home to the nation’s highest property taxes, with the average bill hitting a record $9,490 in 2022.
Small Business May 23, 2023
Hard Times for Colorado Weed Industry
Colorado’s cannabis entrepreneurs face a perfect storm of problems: too much supply, not enough demand, plunging prices, heightened competition in other states and ...
Taxes May 22, 2023
AICPA Submits Suggestions for the 2023-2024 Guidance Priority List
As the IRS plans to prioritize providing additional guidance as stated in the IRS Strategic Operating Plan, the AICPA encourages the IRS to issue guidance on recommended areas.
Taxes May 18, 2023
Digital Automation Increasing in Tax Firms
Expect to see a bigger push for digital automation. This is not a new phenomenon — but rather one that will be recognized for the true advantage it brings.