IRS Interest Rates Increase for the Fourth Quarter of 2022
The IRS recently announced that interest rates will increase for the calendar quarter beginning Oct. 1, 2022.
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IRS Releases Guide for Tax Pros’ Information Security Plan
The IRS and its Security Summit partners recently released a sample security plan and guide designed to help tax professionals, especially those with smaller practices, protect their data and information.
View MoreSEC Proposes To Enhance Private Fund Reporting
The Securities and Exchange Commission recently voted to propose amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds.
View MoreIRS Reminds Educators Maximum Educator Expense Deduction Is $300 in 2022
As the new school year begins, the IRS is reminding teachers and other educators that they'll be able to deduct up to $300 of out-of-pocket classroom expenses for 2022 when they file their federal income tax return next year.
View MoreBills Extend Statute of Limitation for Prosecuting PPP, EIDL Fraud
President Joe Biden recently signed two bills allowing the federal government more time to find and prosecute fraud related to the Paycheck Protection Program and COVID-19 Economic Injury Disaster Loans.
View MoreIRS Provides Compliance Relief to Benefit Plan Sponsors
The IRS recently issued Notice 2022-33, extending the deadline for compliance with certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019, the Bipartisan American Miners Act of 2019 and the Coronavirus Aid, Relief, and Economic Security Act.
View MoreIRS Releases Draft Version of Tax Year 2022 Form 1040
The IRS has released a draft version of Form 1040 for the tax year 2022, along with drafts of related forms and schedules.
View MoreSenate Passes Inflation Reduction Act
The U.S. Senate recently passed the $437 billion Inflation Reduction Act, a bill focusing on President Joe Biden’s domestic agenda items of tax, climate and health care.
View MoreIRS and Treasury Issue Final Regulations on Partnership Basis Elections
The IRS and the U.S. Treasury Department recently issued final regulations (T.D. 9963) stating that partnerships electing to adjust the basis of partnership property under Sec. 754 do not have to include a signature on their election statement.
View MoreMarketing Strategies That Fit Your Firm
Marketing strategies can integrate both new and traditional methods. Most importantly, choosing marketing strategies that fit your firm would be best.
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