Featured News
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Treasury to eliminate paper checks for federal government
President Donald Trump recently signed an executive order calling on the federal government to phase out the use of paper checks and switch to electronic payments by Tuesday, Sept. 30.
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US employers added 228K in March, nearly double expectations
The Associated Press recently reported that U.S. employers added a surprising 228,000 jobs last month as the American labor market continues to show resilience.
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FASB clarifies retainage rules for contractors
The FASB has released a staff educational paper to clarify the application of its revenue recognition standard, Topic 606, regarding retainage in construction contracts.
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Using Excel’s AGGREGATE function: a guide
Excel’s AGGREGATE function supports 19 operations, ranging from basic sums and averages to more advanced calculations, such as product and standard deviation.
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Tax season sees record refunds of $179B so far
The IRS has sent more than 55.7 million refunds to taxpayers totaling nearly $179.5 billion thus far this tax season, an increase of 1.3% and 5.9%, respectively, from last year.
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As time runs out for pandemic-era ERC, IRS adds 5 FAQs
The IRS recently added five FAQs about the employee retention credit (ERC) that mainly address how to handle the pandemic-era credit on tax returns under various scenarios.
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Data report: Wisconsin unemployment remains steady
Preliminary employment estimates for February 2025 showed Wisconsin's seasonally adjusted unemployment rate remained unchanged at 3.2% over last month.
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Amendment clarifies CPAs’ financial statement preparation arrangements
The AICPA recently issued an amendment clarifying that a CPA preparing financial statements as part of a consulting services engagement is not required to apply AR-C Section 70.
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Fed: BOI reporting changes don’t affect CTA’s constitutionality
The federal government in a court brief continued to defend the constitutionality of the Corporate Transparency Act (CTA).
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AICPA responds to proposed regulations under SECURE 2.0
In a letter submitted to the IRS and Treasury, the AICPA responded to proposed regulations related to automatic enrollment requirements authorized under SECURE 2.0.