Peter J. Scalise
On Thursday, April 18th the Internal Revenue Service announced that it is now accepting applications for the 2025 Internal Revenue Service Advisory Council (hereinafter “IRSAC”) through May 31, 2024, including nominees for a newly created subcommittee focused on fairness issues. The IRSAC serves as an advisory body to the IRS commissioner...
MOREOn March 21st, Treasury Secretary Janet Yellen indicated that she was optimistic that the U.S. would be able to maintain…
New York State’s highest individual earners and largest corporations may soon see an increase in their tax rates, while managed…
On Monday, March 11th President Biden proposed a fiscal 2025 budget requesting $12.3 billion in annual funding supporting the IRS’s…
On Tuesday, March 5th the IRS issued final treasury regulations for companies that would like to receive a direct payment…
The United Service Organizations (USO) Accountants Salute the Troops Council and the New York Mets partnered to prepare care packages…
Introducing Peter J. Scalise as the new Editor-in-Chief of CPA Magazine [Dallas, Texas January 1. 2023] - We are delighted to…
Since 1941, the USO has been the nation’s leading organization to serve the men and women in the U.S. military…
Recent studies have shown that technology has reduced the time spent on routine tasks by 60-80 percent. Artificial intelligence (AI)…
Sidney Kess, CPA, J.D., LL.M.
When couples split up, it’s still common for one party to make support payments to the other. Sometimes this continues until the death of the party receiving support; sometimes it...
MOREIt is critical for tax professionals to periodically pause and…
On December 21st of 2018, the Internal Revenue Service (hereinafter…
Many practitioners have tuned out estate planning because of the…
Sidney Kess, CPA, J.D., LL.M.
The IRS reports that nearly 600,000 taxpayers claimed an alimony deduction on their 2015 returns (the most recent year for statistics) (https://www.irs.gov/pub/irs-soi/soi-a-inpd-id1703.pdf). The Tax Cuts and Jobs Act of 2017...
MOREMost attorneys, accountants, and other professionals operate as unincorporated sole…
On December 19, 2017, Congress passed a major tax package…
The government views those with income of $200,000 or more…
When an employee dies, family members, co-workers and others may…
Many of the tax rules for individual taxpayers depend on…
With summertime approaching, many children will be getting jobs during…
Long-term care is different from medical treatment designed to cure…
In its annual release in 2016, the Federal Trade Commission…
The flooding in parts of Louisiana on August 11, 2016…
Kathleen M. Lach
A recent decision issued by the U.S. Tax Court in Graev v. Commissioner 1 could prove pivotal in cases where a practitioner has requested abatement of penalties for their client...
MOREIt has become fairly common these days for individuals and…
Earlier today the Internal Revenue Service released the first set…
The Tax Cuts and Jobs Act of 2017 introduced a…
In the 5-4 decision of South Dakota v. Wayfair, Inc…
The Tax Cuts And Jobs Act ("TCJA") was passed by…
Consequence of Filing Your Tax Return Late or Failure to…
Coinbase, America’s largest platform exchanging bitcoin into U.S. dollars serving…
The IRS is testing expanded criteria for streamlined processing of…
If the IRS is bugging you about your unpaid taxes…
Jerry Love, CPA/PFS, CFP, CVA, ABV, CITP, CFF, CFFA
This article is a follow up to the prior article which highlights the new regulations for the Fair Labor Standards Act (FLSA) from the Department of Labor (DOL) raising the...
MOREThis is a question on many people’s minds. A few…
It has taken the Department of Labor (DOL) almost two…
Most people do not know they can incur penalties by…
By now every employer and CPA assisting employers is well…
I am going to give you the highlights of four…
Failure to read this article and understand it could cost…
The question of when a person can be paid and…
I am frequently asked by clients to help them develop…
When Congress passed the Affordable Care Act (ACA) in 2010…
Julie Welch, CPA, CFP
If a taxpayer borrows money to purchase investments, such as mutual funds, bonds or stock, the interest paid on the loan can usually be deducted. There are two limitations, however...
MORE"How long should my client keep his/her tax returns and…
Be Alert for Digital Documentation Now that companies are going digital…
If your client is married and either that person or…
If your client is age 50 or older, he or…
Roth IRAs are similar to traditional IRAs in that the…
You can offset the costs of higher education with two…
Generally dividends you receive on stock you own are taxable…
“How long should my client keep his/her tax returns and…
Health Savings Accounts (HSAs) are similar to individual retirement accounts…
Joshua Fluegel
In its ongoing effort to stay on the forefront of developments in tax profession technology, CPA Magazine talks to Mark Strassman, president of Make My Day CPA. Strassman discusses CPAs’...
MORECPAs serving small businesses have many demands for their accounting…
There have been many changes to 1040 tax software over…
On October 3, 2016, the IRS issued Final Treasury Regulations…
In this information age, identity theft is no longer something…
Tax Resolution is a fascinating way to expand your firm…
Chairman of the AICPA Tax Section’s Tax Executive Committee, Troy…
The need for CPA reviews may explode when Jumpstart Our…
The dawn of a new year brings a fresh opportunity…
Here are three quick tips and tricks to help tax…
Martin M. Shenkman, CPA, MBA, PFS, AEP, JD
Why You Must Understand the New Planning Benefits of Non-Grantor Trusts The 2017 Tax Act dramatically changed tax planning. In the new tax environment, there are a number of significant income...
MOREThe Tax Cut and Jobs Act enacted in late December…
Tax Reform has not been enacted at the time this…
One of the authors just received a call to assist…
Estate planning is a vital service for clients. While historically…
Aging clients are growing in number and practitioners should address…
An individual income tax return can be a treasure trove…
Donald Trump won the Presidency and the Republicans control both…
Funding Irrevocable Trust with Family or Closely Held LLC Interests LLCs…
√ MULTI-GENERATION CRT Blended families are common, perhaps the norm (only…
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CCH, a Wolters Kluwer business |
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Foundation Software |
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