IRS Issues Increased Passenger Auto Depreciation Limitations
The IRS recently released Rev. Proc. 2022-17, issuing higher new depreciation limitations for passenger automobiles.
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Federal Reserve Raises Interest Rates
The Federal Reserve recently increased the price of borrowing money by a quarter point, its first rate increase since 2018.
View MoreSBA Provides COVID EIDL Borrowers Additional Deferment
The U.S. Small Business Administration recently announced that it is providing additional deferment of principal and interest payments for existing COVID Economic Injury Disaster Loan program borrowers for a total of 30 months deferment from loan inception.
View MoreIRS to Provide Relief to Qualifying Farmers and Fishermen Due to Technology Problems
The IRS recently issued Notice 2022-13, which provides a waiver of the addition to tax under section 6654 for underpayment of estimated income tax by qualifying farmers and fishermen.
View MoreSEC Proposes New Rules for Cybersecurity Reporting by Public Companies
The Securities and Exchange Commission recently proposed amendments to its rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance and incident reporting by public companies.
View MoreIRS Revises 2021 Child Tax Credit and Advance Child Tax Credit Payments FAQs
The IRS recently updated its frequently asked questions on the 2021 Child Tax Credit and advance CTC payments.
View MoreIRS Proposes to Raise Fees for Enrolled Agents
The IRS recently posted proposed regulations to increase the enrollment and renewal user fees for enrolled agents.
View MoreMeet TSCPA Member Linda Biek, CPA, CGMA
“Be flexible, be open-minded, be curious,” Linda Biek, CPA, CGMA, says about how CPAs can better prepare for the future. Biek’s career path, which she describes as having taken “plenty of twists and turns,” is an illustration of how she has lived by that advice herself.
View MoreIRS Updates FAQs on Tax Credits for Paid Leave
The IRS recently released two new sets of frequently asked questions and answers on the tax credits available for paid sick and family leave under the American Rescue Plan Act of 2021.
View MoreIRS Formally Establishes Taxpayer Experience Office
The IRS recently announced that it has formally established the first-ever Taxpayer Experience Office as part of a longer-term effort to improve taxpayer service.
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