Federal and state tax news
Latest federal and state tax news articles
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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.
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ArticleTax & AccountingOctober 13, 2023BOI reporting: what client information will accounting firms need to file on their behalf?Depending on what type of BOI filing your clients need, different information is required.
Accounting and audit news
Latest accounting and audit news articles
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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
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ArticleTax & AccountingDecember 07, 2023FASB issues new segment reporting guidanceFASB issues new segment reporting guidance
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ArticleTax & AccountingOctober 10, 2023FASB improves disclosures based on SEC’s simplification initiativeFASB issues disclosure improvements related to SEC simplification initiative
All tax and accounting articles
Latest tax and accounting articles
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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.
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ArticleTax & AccountingMay 13, 2024Why are CPA firms switching to CCH Axcess™ Tax?With tax season frustrations often out of firms' control, it is essential to have a tax software that can streamline workflows, enhance client satisfaction, and save time.
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ArticleTax & AccountingMay 13, 2024Actionable steps to maximize growth and profit in your tax preparation businessRunning a successful tax preparation business doesn't happen by accident. Join our free webinar to learn how self-reflection, calibration and execution of actionable steps can ensure business success.
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ArticleTax & AccountingMay 07, 2024Choosing the right professional tax softwareWhen choosing new tax software, firms should evaluate these seven areas at the start of the process, so they can move forward with confidence.
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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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Case studyTax & AccountingApril 29, 2024Case study: Boost efficiency and customer service with CCH Axcess™ Tax softwarePozerski Hatch & Company, which deals with clients facing complex tax situations, found that CCH Axcess Tax provided them with all the necessary tools to provide accurate and efficient client service.
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ArticleTax & AccountingApril 26, 2024Digital tax workflow tips and tricksWhether firms implement these tax workflow tips and tricks all at once or step-by-step, there is a lot of room for a more productive tax workflow.