Featured News
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IRS refunds $14.8B for unemployment compensation exclusion
After completing its final corrections to 2020 tax returns, the IRS issued 12 million refunds to those who overpaid their taxes on unemployment compensation they received in 2020.
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PCAOB proposes updated rules for auditing confirmations
A new PCAOB proposal would replace an interim standard for auditing confirmations that has not changed substantially since 2003.
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IRS audits dropped slightly in 2022
The IRS audited fewer taxpayers in fiscal 2022, according to a new report from Syracuse University's Transactional Records Access Clearinghouse.
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2024 CPA Exam Blueprints released
The updated 2024 CPA Exam Blueprints introduce a different format that will create flexibility and enable rising accountants to demonstrate their strengths and interests.
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Business leaders optimistic for 2023, survey finds
Despite the impacts of inflation and ongoing staffing struggles, small and mid-market business owners remain optimistic for a successful 2023, a new survey finds.
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IRS updates guidance on R&D expensing
The IRS and Treasury have released updated guidance on accounting method changes for research and development (R&D) expenditures.
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2023 standard mileage rates increase
The IRS recently increased the 2023 optional standard mileage rate used to calculate tax deductions by 3 cents for business purposes.
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IRS updates Form 1099-K FAQ
The IRS updated its FAQ webpage addressing Form 1099-K, Payment Card and Third-Party Network Transactions, in Fact Sheet FS-2022-41.
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Managing firm morale to win the coming busy season
While stress is difficult to avoid during the busy season, leaders can mitigate the impact of stress by rewarding employees who go above and beyond to foster a positive work environment.
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IRS delays Form 1099-K $600 reporting threshold
The IRS recently announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season.