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A Message from the IRS to CPAs

January 9, 2018
The IRS continues to review its procedures to better protect sensitive taxpayer data. As part of this effort, the IRS will request additional information from tax professionals who contact them through the Practitioner Priority Service or any toll-free IRS telephone number.

Next Stop for Tax Reform: The Oval Office

December 21, 2017
Recently, both houses of Congress passed a tax reform bill titled “To provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018,” also known as the Tax Cuts and Jobs Act. The legislation is now bound for the President’s desk. After a Senate and House conference committee reviewed the preexisting bills from both houses, a number of changes and consolidations were made to create the final bill.

Senate Tax Reform Proposal Differs From House Proposal in Key Ways

November 16, 2017
Tax reform is developing at a breakneck pace. On November 2, the House Ways & Means Committee released HR1, the “Tax Cuts and Jobs Act” — its version of tax reform. The bill has already seen amendments, and the contents have been a topic of great discussion in the profession and the news. On Thursday, November 9, the Senate Finance Committee released a conceptual description of its version, also termed the “Tax Cuts and Jobs Act.” The House adopted the package on Nov. 16.

Three Keys to Effectively Work from Home

November 14, 2017
Working from home is a great opportuni­ty to achieve work/life balance, however, it also takes a lot of discipline. What if a client needs you? What if a colleague needs you? How do you sit down and focus on work when there’s a sink full of dishes in the kitchen? Here are some mental and technological tools you can use to achieve balance and establish a routine.

Tax Reform Legislation Takes First Step

November 3, 2017
The official process to potentially make the biggest changes to the tax code since 1986 has begun. And as the nation’s premier tax practitioners, the accounting profession will be very engaged as the proposed legislation winds its way through Congress.

2017 Arizona Tax Credits - Easy Reference Guide

October 24, 2017
Arizona individual taxpayers have the opportunity to redirect state income tax to a variety of Arizona charities through the use of Arizona tax credit contributions. Contributions to certain charities or public schools will also qualify for a federal charitable contribution deduction, but not Arizona, in most cases. Taxpayers do not need to itemize to claim the tax credits. ASCPA member Monica J. Stern, CPA provides some handy links.

Three Ways to Take Action against Cyber Threats – for Your Firm and Client

October 24, 2017
When news broke that roughly 143 million people could have been affected by a hack at credit monitoring agency Equifax, it was just the latest report of a significant data breach. As concerns about cybersecurity mount, CPAs are in an excellent position to help strengthen the cybersecurity risk management programs for all organizations, whether they are doing it within their own firms or organizations or for a client. Specifically, there are three ways that CPAs can use their skills and resources to guard against cyberattacks.