Federal and state tax news
Latest federal and state tax news articles
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ArticleTax & AccountingJune 28, 2024IRS Revises Draft Form 6765 for Research CreditThe IRS released a new draft Form 6765, Credit for Increasing Research Activities, for claiming the research credit.
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ArticleTax & AccountingMay 01, 2024The IRS reminds taxpayers to claim 2020 refunds by May 17The IRS has reminded taxpayers that the deadline for claiming tax refunds for the 2020 tax year is May 17, 2024.
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ArticleTax & AccountingApril 19, 20242024 post-filing season updateThe 2024 tax season will likely be remembered for something that did not happen rather than a significant action taken by the government – the failure to pass The Tax Relief for American Families and Workers Act of 2024.
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ArticleTax & AccountingFebruary 15, 20242023 Tax returns include a whole new world of green energy tax creditsTaxpayers that are preparing their 2023 returns are encountering a host of new and modified credits related to “green energy.” The Inflation Reduction Act of 2022 added some new credits, and modified others, mostly to make them more generous.
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ArticleTax & AccountingJanuary 03, 2024Draft Schedules K-2 and K-3 for 2023: The domestic filing exception has been retainedThe draft partnership instructions for Schedules K-2 and K-3 (Forms 1065 and 1120S) retain last year’s filing exception for domestic partnerships.
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ArticleTax & AccountingDecember 20, 2023FASB issues standard on accounting for and disclosure of crypto assetsFASB issues standard to improve the accounting and disclosure of certain crypto assets
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ArticleTax & AccountingDecember 04, 2023Time is running out for tax professionals to renew PTINs for the 2024 tax seasonTax pros who file returns or refunds for compensation need to apply for, and renew, their PTINs every year. Here's what they need to do.
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ArticleTax & AccountingOctober 27, 2023IRS uses new funding to target tax evasion by large partnershipsThe IRS announces new compliance efforts focused on large and complex partnerships.
Accounting and audit news
Latest accounting and audit news articles
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ArticleTax & AccountingJune 28, 2024IRS Revises Draft Form 6765 for Research CreditThe IRS released a new draft Form 6765, Credit for Increasing Research Activities, for claiming the research credit.
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ArticleTax & AccountingMay 30, 2024OMB issues 2024 Compliance SupplementOBM issues 2024 compliance supplement
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ArticleTax & AccountingApril 19, 20242024 post-filing season updateThe 2024 tax season will likely be remembered for something that did not happen rather than a significant action taken by the government – the failure to pass The Tax Relief for American Families and Workers Act of 2024.
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ArticleTax & AccountingApril 12, 2024IASB issues IFRS 18 on financial statements presentation and disclosureIASB issues IFRS 18 on financial statements presentation and disclosure
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ArticleTax & AccountingApril 03, 2024FASB issues ASU to remove references to Concepts StatementsFASB issues ASU to remove references to Concepts Statements
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ArticleTax & AccountingMarch 27, 2024FASB clarifies accounting for profits interest awardsFASB clarifies accounting for profits interest awards
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ArticleTax & AccountingMarch 19, 2024Auditing reimagined: SAS 145 and the rise of technology-enabled risk managementThis new standard changes the game for auditors to make risk assessments even more effective.
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ArticleTax & AccountingDecember 18, 2023FASB issues standard that enhances income tax disclosuresFASB issues standard that enhances income tax disclosures
All tax and accounting articles
Latest tax and accounting articles
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ArticleTax & AccountingJuly 18, 2024How to become a tax preparer - the complete guideFor individuals that have decided to become a tax preparer, there are many decisions to be made that will determine one's success. This article helps with that decision making journey.
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ArticleTax & AccountingJuly 03, 2024Understanding IRS Direct File and what it means for tax pros and consumersExplore the IRS Direct File program’s impact on taxpayers and tax professionals and how to navigate the pilot becoming permanent, as the Internal Revenue Service pursues simplifying filing individual tax returns 1040 and 1040R with IRS Direct File.
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ArticleTax & AccountingJuly 02, 2024API Spotlight: Exploring Wolters Kluwer's CCH Axcess™ API strategyDelve into the world of APIs in this podcast, which covers Wolters Kluwer’s CCH Axcess API strategy, including technology trends, data security, and how accountants can approach APIs in their firms.
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ArticleTax & AccountingJune 28, 2024IRS Revises Draft Form 6765 for Research CreditThe IRS released a new draft Form 6765, Credit for Increasing Research Activities, for claiming the research credit.
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ArticleTax & AccountingJune 04, 2024Navigating the unique challenges of auditing real estate investment trustsFriction simmers within the audit industry following the Public Company Accounting Oversight Board's controversial June 2023 proposal to revise its standard on noncompliance with laws and regulations.
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ArticleTax & AccountingMay 30, 2024OMB issues 2024 Compliance SupplementOBM issues 2024 compliance supplement
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Case studyTax & AccountingMay 15, 2024Case study: Ensure accuracy by augmenting human expertise with artificial intelligenceNancy Ekrem, CPA, embraces AI technology to transform tax operations, enhance accuracy, and deliver value to clients at DME CPA Group using CCH Axcess™ Tax software and CCH® AnswerConnect.
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ArticleTax & AccountingMay 14, 2024Harnessing AI's potential: Transforming digital tax workflows for the modern eraWith the emergence of AI-enabled tax compliance software, accountants now possess powerful tools that transform tax workflows, optimizing their processes for enhanced efficiency and productivity.