Featured News
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Taxpayers allowed choice of bonus depreciation rules
The IRS has issued rules for taxpayers to follow in applying bonus depreciation regulations, including how to make several elections.
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Partnerships and S corps. can deduct SALT
The IRS has proposed new regulations to clarify that partnerships and S corporations are not subject to state and local tax deduction limitations.
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PPP loan necessity form required from large borrowers
Businesses and not-for-profits that received $2 million or more in PPP loans must complete one of two new loan necessity questionnaires sent to lenders by the SBA for borrowers.
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ASB addresses auditing of fair value estimates of financial instruments
The AICPA Auditing Standards Board has proposed a standard that would provide more guidance on auditing management’s estimates of the fair value of financial instruments.
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Fitting ‘me time’ into a busy schedule
By setting aside time for themselves, professionals with busy work schedules can still relax, refresh and renew to prevent burnout.
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FASB issues minor codification changes
FASB recently issued a new standard that provides incremental improvements to its Accounting Standards Codification.
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Developing a strategic audit plan
Skillful communication and flexibility in strategy can help tax practitioners create a plan that leads to a high-quality audit.
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IRS expands resolution options for tax debt
To help those impacted by the COVID-19 pandemic, the IRS is expanding its taxpayers options for making payments and alternatives to resolve balances owed.
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IRS warns of new text scam
The IRS has issued a warning of a new text scam that tricks people into disclosing bank account information under the guise of receiving their economic impact payments.
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IRS guidance on deferred employee payroll tax
The IRS issued guidance for reporting the deferral of withholding, depositing and paying of certain payroll tax obligations.