Recent Articles
The IRS Advisory Council has issued its 2022 Annual Report.
On 21 new and persistent issues in tax administration, the report makes recommendations to the IRS. On Nov. 15, the Internal Revenue Service Advisory Council (IRSAC) released its annual report for 2022, which includes suggestions for the IRS on current...
Why Accountants Should Pay Attention to Wealth Management
Adding value for your clients is essential if you want a successful, long career and expanding business. An accountant’s job description is “preparing and examining financial records,” according to the Bureau of Labor and Statistics. The duties of accountants have...
Treasury and IRS Expand Retirement Plan Approval Program
The IRS announced today that 403(b) retirement plans will now be eligible for the program. The IRS and the U.S. Treasury Department announced on Monday that one of their programs for approving retirement plans has been expanded. Certain public schools,...
Some tuition costs may be eligible for a medical tax deduction.
Although these tax advantages are phased out for higher-income taxpayers, you might be able to claim one of the two higher education credits if you have children enrolled in college. You probably already know how expensive college is these days...
Recommendations for adhering to the new IRS information return reporting requirements
Small And Midsize Business (SMB) owners must be aware of the tax repercussions of the most recent workforce changes because new tax reporting requirements will go into effect in 2023. The worker classifications in the American workforce have undergone a...
Inflation Slows More Than Expected
There is hope that the fastest price increases in decades are slowing down after U.S. inflation decreased in October by more than expected. Inflation in the United States fell more than expected in October, providing hope that the fastest price...