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IRS gives taxpayers relief from erroneous HSA contributions

The IRS announced on Thursday that it is modifying the annual limitation on deductions for contributions to a health savings account (HSA) allowed for taxpayers with family coverage under a high-deductible health plan (HDHP) for calendar year...

Congressional staff aims to finish technical corrections to tax reform bil

Staffers on Congress’s Joint Committee on Taxation have been preparing a set of technical corrections to the tax reform bill and hope to have it in legislative form by the end of this congressional session, which ends this year. But that...

IRS, Security Summit Partners Warn of New Twist on Phone Scam

The Internal Revenue Service today warned of a new twist on an old phone scam as criminals use telephone numbers that mimic IRS Taxpayer Assistance Centers (TACs) to trick taxpayers into paying non-existent tax bills. The IRS and its Security...

Automation in finance: Get your team ready

Emerging technologies like artificial intelligence and blockchain will radically transform how companies view and perform finance and accounting functions in the very near future. Some global companies and large banks are already automating...

Businesses Still Not Ready for New Lease Accounting Standards

Just 21.2 percent of finance, accounting and other professionals say their companies are “extremely” or “very” prepared to comply with the Financial Accounting Standards Board’s (FASB) and International Accounting...

Sage Intacct Partners with GuideStar for Nonprofit Financial Management

Sage Intacct , the innovation and customer satisfaction leader in  cloud financial management solutions , and a solution available in  Sage Business Cloud , today announced the general availability of the new Sage Intacct Nonprofit Financial...

House approves IRS reform bills

The House voted Wednesday to pass bipartisan legislation to modernize the Internal Revenue Service’s information technology systems, a day after a computer crash temporarily suspended processing of tax returns on the date of the filing...

Report finds big fraud problems for small businesses

Occupational fraud continues to siphon staggering amounts of money from businesses worldwide, with smaller organizations being hit particularly hard. That’s one of the trends identified in the 2018 Report to the Nations on Occupational...

IRS extends tax-filing deadline to midnight Wednesday, April 18

The IRS’s Modernized e-File and Direct Pay systems were not in operation for most of the day on Tuesday, which was the deadline for individual taxpayers to file their 2017 tax returns. As a result, the IRS extended the filing and payment...

2018 Greater Washington Society of CPAs Award Program

GWSCPA is pleased to announce the 2017 Greater Washington Society of CPAs Awards Program! Help us to celebrate the successes of our members, the industry and cap off a great year of membership with GWSCPA. All awards will be presented at the...