CPA Now Blog

When a gray tax position is challenged by the IRS or another taxing authority, taxpayers and CPAs incur a risk for increased tax, penalty, and interest. One tool that may help taxpayers mitigate these risks is tax insurance.

Sometimes we need to trick ourselves into being ready to do difficult work. There are psychological games we can play on ourselves to help us get unstuck and in the mood to do something. Rituals are one of those psychological tools we have at our disposal.

The shrinking talent pipeline in accounting is of great concern in accounting firms and in industry. How exactly do organizations stand out and ensure university students and experienced professionals strongly consider them as a top career choice. A 3-2-1 campaign may be the plan that sets your firm apart.

Preparing hundreds of state and local income tax returns may not be glamorous, but the time is upon us to get to work. There many steps you can take now, however, to help the preparation and filing process go more smoothly.

Recently, a PICPA Student Ambassador took part in a panel discussion on becoming a CPA. This blog relates Savannah Lesley's experiences and her thoughts on the process of becoming a CPA.

When it comes to financial advice, there is no such thing as "simple." Those working in the world of financial planning must be wary of gurus and star-powered money management advice.

On July 31, 2023, the AICPA formed the National Pipeline Advisory Group (NPAG) to help develop a broad, national strategy to better address the accounting profession’s critical talent shortage. PICPA President Elizabeth Krisherhas been named to the group. Find out what the group has planned to strengthen the profession.

The Inflation Reduction Act was signed into law on Aug. 16, 2022, but several of its provisions only took effect for properties placed in service on or after Jan. 1, 2023. This blog provides a one-year update of what we’ve learned and what we need to learn regarding the act’s changes to the energy efficiency 179D tax deduction and 45L tax credit.

The idea of working remotely has been around for years. One famous businessman, in fact, put the concept to work in the 1960s. Though some may be longing for the "good old days," remote work has been and will continue to be beneficial.

In its most recent Insights white paper, the PICPA takes a measured, data-grounded look at the dearth of incoming accounting talent. More importantly, the study offers new perspectives and potential solutions to help rebuild and strengthen the process of growing new accounting talent.

The Pennsylvania Independent Fiscal Office recently released its annual five-year economic and budget outlook. The Commonwealth will have $13.8 billion in savings that could support future spending or be held as savings to mitigate the impact of any future recessions.

The importance of mentoring in accounting cannot be overstated. Yes, mentoring plays a pivotal role in shaping the professional growth of employees, but it is also a mutual relationship where both the mentor and mentee benefit.

Most states with a sales tax impose it on some forms of digital products or software. But within the past decade, some states have enacted statutes that not only redefine software as tangible personal property, but also broaden their definition of taxable tangible personal property or taxable services. This has left service providers and business consumers wondering whether or not they should subject their individual services to tax.

Deloitte's Sandy Pfeffer shares her thoughts on harnessing the power of data and the firm's recent report, "It’s Time to Get Serious about Data." Pfeffer pointedly asks, are you taking data seriously and enabling your business to make sensible decisions?

The 2023 year-end has arrived, and now is the time to create a framework through which you can assess your progress over the past year. To achieve this, consider using an after-action review, a structured evaluation tool the U.S. Army uses in reviewing performance in battlefield exercises.

Many practitioners believe that they can simply accept the validity and appropriateness of a tax client's Employee Retention Credit (ERC) claim prepared by another provider. You may want to reconsider that thought.

Effective Jan. 1, 2024, an 18-month extension will be granted for all unexpired sections of the CPA Exam that have been passed by test-takers. This extension provides a crucial lifeline, affording candidates the time and flexibility needed to prepare and excel in the remaining sections without the pressure of expiring credits.

Some tax professionals and CPAs may not be familiar with Pennsylvania's Office of Taxpayers’ Rights Advocate. This blog shares an overview of the OTRA and the work that it does on behalf of taxpayers and their advisers.

As tax season approaches, remember that tax-related matters constitute a majority of claims against accounting firms. Addressing and managing the stress points associated with problematic clients can significantly improve a firm’s risk profile.

The IRS has repeatedly warned businesses about improper Employee Retention Credit (ERC) filings and the threat of unscrupulous ERC advisers. The IRS announced that it is providing guidance for withdrawing erroneous ERCs so that businesses that were misled about eligibility have a path to remediate improper claims and avoid potential penalties.