September 28, 2022
AICPA Supports Request for IRS Deadline Extension for Penalty Relief
In late August, the IRS announced it would offer automatic penalty relief to certain taxpayers for taxable years 2019 and 2020.
Accounting September 28, 2022
EY Report Shows Businesses Improving on Climate Disclosure, but Lagging on Decarbonization
Almost half of organizations surveyed globally (49%) responded that they have conducted scenario analysis – which is also a TCFD recommendation ...
Small Business September 23, 2022
Florida Could Face a Fierce Hurricane Ian Next Week
The storm may eventually target the Gulf Coast of Florida as a major hurricane by the middle of next week, with winds that could reach over 120 MPH.
September 21, 2022
IRS Says Wrongfully Forgiven PPP Loans are Taxable
When a taxpayer's loan is forgiven based upon misrepresentations or omissions, the taxpayer is not eligible to exclude the forgiveness from income and must include in ...
September 21, 2022
Puerto Rico Gets Tax Relief for Hurricane Fiona
The Internal Revenue Service has announced that Hurricane Fiona victims in all 78 Puerto Rican municipalities now have until February 15, 2023, to file various federal individual and business tax returns and make tax payments.
Accounting September 21, 2022
New York Attorney General Sues Trump, Alleges Financial Fraud
The AG’s lawsuit to be filed in State Supreme Court in Manhattan accuses the Trump Organization and top company executives of purposely misrepresenting the value of assets emblazoned with the...
September 21, 2022
The Tax Blotter – Sept. 22, 2022
The Tax Blotter is a round-up of recent taxation news.
Accounting September 19, 2022
Accounting Profession Not Ready for ESG Measuring and Reporting, Says PICPA
PICPA surveyed members on their perceptions of ESG to fully understand how the accounting profession is preparing for new reporting standards in this area.
September 15, 2022
Why Tax Professionals Need an Anti-fragile Mindset
Everyone knows the saying “hope for the best, prepare for the worst.” As tax professionals, we actually have to take this mindset a step further.
September 14, 2022
Discovering Your Firm Type to Pick the Best Tax Tools
Whether you’re a perfect fit for these five firm types or somewhere in between, investing in the right tech stack will save your business time, money, and energy.
September 14, 2022
Details of the New Tax Rules for Electric Vehicles
The new law retains the maximum credit of $7,500 for 2023 through 2032. However, the IRA changes other rules of the road, as follows:
Small Business September 9, 2022
Income Tax Deductions for Start-Ups
A start-up business can claim a current deduction for qualified start-up costs if it meets two requirements, as stated by the IRS.