News & Resources

Investing in the Future With a 529 Education Plan

  If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. These plans, named for the Internal Revenue Code section that provides for

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National Taxpayer Advocate Issues Midyear Report

  National Taxpayer Advocate issues midyear report to Congress; expresses concern about continued refund delays and poor taxpayer service. National Taxpayer Advocate Erin M. Collins today released her statutorily mandated midyear report to Congress. The report expresses concern about continuing delays

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FASB Proposes Last-Minute Changes to Lease Accounting Rules

  Accounting Standards Codification Topic 842, Leases, requires organizations to report the full magnitude of their long-term lease obligations on their balance sheets — a historic first. For private companies and nonprofits, the changes take effect this year. Public entities

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Year-End Tax Planning Ideas for Individuals

  Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next. One of the first planning steps is to ascertain whether you’ll take the standard

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Tax Relief Victims for Hurricane Ian

  The Internal Revenue Service announced that victims of Hurricane Ian in Florida now have until February 15, 2023, to file various individual and business tax returns and make tax payments. This means individuals who had a valid extension to

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How Auditors Use Benford’s Law to Assess Transactions

  An interesting tool called Benford’s Law can be effective in detecting fraud. But it also can be used during external auditing procedures to test journal entries for unusual numeric patterns. Here’s what you should know about this statistical technique,

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Using Agreed-Upon Procedures to Target Specific Items of Concern

  Your CPA offers a wide menu of services. One flexible offering, known as an “agreed-upon procedures” engagement, provides limited assurance on a specific aspect of an organization’s financial or nonfinancial information. What’s Covered? Agreed-upon procedures can cover various items.

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