CPA Now Blog

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.

Recruiting firms find great talent, share new opportunities with them, and broker an employment deal. But not everyone is in a position to use a recruiter. This blog offers tips from a recruiter to help human resources departments and small-business owners navigate the search for a great candidate.

One important tool that can be of use to CPAs in the appeal of taxes, rebates, or refunds is the Pennsylvania Board of Appeals' Request for Compromise. This blog explains the process and how a Request for Compromise could help you better serve your clients.

All current Pennsylvania CPA licenses expire Dec. 31, 2023. To ensure enough time for processing, it’s best to submit your renewal before Dec. 31, 2023. Get helpful renewal tips in this blog.

When considering outsourcing, due diligence is a critical first step. CPAs are responsible for protecting their clients’ data and need to ensure that any third party has appropriate security protocols and safeguards. This blog discusses some vital risk management considerations when outsourcing.

Even seasoned professionals can stumble when navigating the complex territory of health care planning. This blog equips CPAs with several strategies for avoiding some common Medicare pitfalls.

If a nonresident noncitizen (NRNC) funds a foreign trust for the benefit of a U.S. person, the trust will be treated as either a foreign grantor trust or a foreign nongrantor trust for U.S. income tax purposes. The rules are complex. Read this blog to clarify some important points related to these trusts.

CPA recruiting is more competitive than ever. The market is tough, and there is no indication that it will be getting any easier soon. Incorporating video into your recruiting efforts may not be a silver bullet, but it sure can make you stand out from the competition when it’s done well.

The Federal Trade Commission amended the Safeguards Rule in 2021, which has a more expansive definition of “financial institutions.” It includes nonbanking institutions engaged in work incidental to financial activities, such as CPA firms and tax professionals that collect personally identifying information. CPAs need to be aware of these changes.

State and local taxes once were generally considered an afterthought for corporations: SALT was a nuisance, not worthy of the time or resources needed to comply. Times have changed. State and local taxes are now regarded much more materially in terms of importance in the corporate tax world.

Business acquisitions can take different forms, and the work is complex and highly time sensitive. Many tax issues concerning the transaction structure and due diligence can arise in M&A transactions.

The AICPA's new Statements on Standards for Tax Services (SSTS) will become effective Jan. 1, 2024. The prior version of the SSTS had seven standards; the revision going into effect boils those seven standards down to four. It is a significant component of the ethics guiding CPA practitioners of taxation.

Over the next three weeks, the PICPA will bring keynote speakers and educational panels to universities across the state designed to support high school students interested in pursuing a degree in accounting.

For smaller CPA firms with limited budgets, getting started with video marketing is not always easy. Learn the six keys to getting started with a video content marketing campaign.

Accountants have the unfortunate stereotype of being the opposite of creatives. Many think creativity is considered the exclusive realm of artists. But we act creatively whenever we design processes, ask questions, build financial models, derive insights from information, or translate financial results for nonfinancial people.

The CPA Exam is undergoing a significant shift in format that is set to take effect in 2024. This blog explores the changes and outlines what candidates and educators need to know to navigate this change successfully.