Featured News
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IRS to resume home visits post-pandemic
The IRS will resume home visits to high-income people suspected of avoiding taxes after the COVID-19 pandemic ends.
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GASB proposes new implementation guidance
GASB has proposed new implementation guidance to its standards for state and local government accounting.
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Including exit planning in year-end plans
Year-end planning has much emphasis on the short-term, but it is also an ideal time to blend in such long-term matters as exit planning.
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Using Excel’s Geography feature
Instead of researching and updating geographical data in spreadsheets, Excel users can save time by using the software’s Geography feature.
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IRS to mask sensitive data on biz tax transcripts
Starting Dec. 13, the IRS will mask sensitive data on business tax transcripts to protect business taxpayers from identity theft.
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Lease accounting guidance proposed for federal entities
The Federal Accounting Standards Advisory Board and Accounting and Auditing Policy Committee are proposing new guidance related to lease accounting for federal entities.
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Updated RMD tables reflect longer lives
The IRS recently updated the life expectancy and distribution period tables used for purposes of determining RMDs.
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Taxpayers allowed choice of bonus depreciation rules
The IRS has issued rules for taxpayers to follow in applying bonus depreciation regulations, including how to make several elections.
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Partnerships and S corps. can deduct SALT
The IRS has proposed new regulations to clarify that partnerships and S corporations are not subject to state and local tax deduction limitations.
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PPP loan necessity form required from large borrowers
Businesses and not-for-profits that received $2 million or more in PPP loans must complete one of two new loan necessity questionnaires sent to lenders by the SBA for borrowers.