The Latest News

What will happen to estate, gift and generation-skipping transfer tax exemptions in 2021 and beyond?
With the inauguration of President Joe Biden and a congress narrowly controlled by the Democratic party, many clients and estate planners have begun to worry about what, if anything, will happen to the federal estate, gift and generation-skipping...
AICPA encourages firms to aggressively advance PPP applications
The AICPA expects the federal government to open up the application process for all lenders participating in the latest round of the Paycheck Protection Program by Friday, and encourages CPA firms to advance the application process for small...
Economic Impact Payments on their way, visit IRS.gov instead of calling
The IRS and the Treasury Department began issuing a second round of Economic Impact Payments, often referred to as stimulus payments, last week.
CPA Firms Mobilizing to Support $900 Billion COVID Relief Bill Signed into Law
With last night’s enactment of the emergency Coronavirus Relief Package that includes renewed PPP funds and related assistance, new regulations will be in place early in the new year, according to the AICPA and its business and technology arm,...
Trump signs coronavirus relief and government funding bill into law after lengthy delay
President Donald Trump signed the massive $2.3 trillion coronavirus relief and government funding bill into law Sunday night, averting a government shutdown that was set to begin on Tuesday, and extending billions of dollars in coronavirus aid to...
Congress Reaches $900B Stimulus Relief Package: Here's What We Know So Far
As you've likely seen, last night Congress reached a deal on the $900 billion stimulus package we've all been waiting for. This deal has not yet been voted upon, so the package may change at any time. We expect any modifications to be minor. We...
Special $300 tax deduction helps most people give to charity this year – even if they don’t itemize
The Internal Revenue Service today reminded taxpayers of a special new provision that will allow more people to easily deduct up to $300 in donations to qualifying charities this year. Following special tax law changes made earlier this year,...
It’s a tough year for year-end tax planning
Performing year-end tax planning this year is going to be “very, very difficult,” Bob Keebler, CPA/PFS, said in a Nov. 10 webcast sponsored by the AICPA’s Personal Financial Planning Section. Advisers face the challenge of helping clients plan...
IRS makes it easier to set up payment agreements; offers other relief to taxpayers struggling with tax debts
The Internal Revenue Service today announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS. The IRS assessed its collection activities to see how it could apply...
Many college students may still qualify for an Economic Impact Payment; review the guidelines and register by Nov. 21 at IRS.gov
The Internal Revenue Service today urged any eligible self-supporting college student who doesn't need to file a tax return to register by November 21 so they can receive an Economic Impact Payment before the end of the year. In advance of the...

More >


 

 

Professional Development

 

Webinars