Editors' Note: The CPA Journal staff would like to acknowledge the recent passing of longtime column editor, author, and Editorial Advisory Board member Howard Levy. His…
First Look at the Secure Act 2.0 of 2022
Practical and Legal Considerations
On December 23, 2022, Congress passed the Securing a Strong Retirement Act of 2022 (Secure 2.0) as part of the Consolidated Appropriations Act of 2023,…
The ABCs of Worker (Mis-)Classification
Recent Developments in New Jersey
Whether a “worker” is properly characterized and treated as an “employee” or as an “independent contractor” is a complex—but increasingly important—inquiry for business owners and…
My first job out of college in 1992 was as an auditor for Arthur Andersen & Co. in their Baltimore office. Like so many other…
Reassessing the Erroneous Refund Penalty
The IRS Flexes an Obscure Authority
Under IRC section 6676, the IRS has the authority to assess penalties against taxpayers for making erroneous claims for refund or credit. In a 2013…
Forté Capital's Selected Statistics U.S. Existing Home Sales Home sales, new and existing, have weakened due to the sharp increase in mortgage rates last year.…
Alarge majority of respondents to The CPA Journal 2022 Practice Management and Tax Practice Survey reported substantial difficulty in reaching an Internal Revenue Service representative, which…
The Audit Committee’s Oversight for Cybersecurity
Targeted Key Considerations
Audit committees face increasingly complex demands and expectations when it comes to cybersecurity. Oversight practices have expanded from an initial focus on protecting lost shareholder…
First Look at the Secure Act 2.0 of 2022
Practical and Legal Considerations
On December 23, 2022, Congress passed the Securing a Strong Retirement Act of 2022 (Secure 2.0) as part of the Consolidated Appropriations Act of 2023,…
The ABCs of Worker (Mis-)Classification
Recent Developments in New Jersey
Corey L. Rosenthal, JD, and Lance E. Rothenberg, JD, LLM Whether a “worker” is properly characterized and treated as an “employee” or as an “independent…
My first job out of college in 1992 was as an auditor for Arthur Andersen & Co. in their Baltimore office. Like so many other…
Reassessing the Erroneous Refund Penalty
The IRS Flexes an Obscure Authority
Under IRC section 6676, the IRS has the authority to assess penalties against taxpayers for making erroneous claims for refund or credit. In a 2013…
Many respondents to The CPA Journal's 2022 Practice Management and Tax Practice Survey (see p. 28 of this issue) reported that they have adopted new practice…
First Look at the Secure Act 2.0
Practical and Legal Considerations
On December 23, 2022, Congress passed the Securing a Strong Retirement Act of 2022 (Secure 2.0) as part of the Consolidated Appropriations Act of 2023,…
CPAs need to be aware of current tax developments in key states to properly advise clients that are doing business in multiple jurisdictions. As state…
Forté Capital’s Selected Statistics
Economic & Market Data
Forté Capital's Selected Statistics U.S. Treasury Yield Curve This chart illustrates the impact of Federal Reserve monetary policy, which is aimed at bringing inflation to…
The more I talk to other CPA firms and analyze my own firm, the more I have come to realize that most of our problems…
The accounting profession is well aware of the need to attract and retain new accounting professionals. The AICPA's 2021 Trends: A Report on Accounting Education,…
The U.S. population is aging, and CPAs should consider this fact in determining which services they can offer and how they will adapt their practices…
SSDI and SSI—Government Programs to Help the Disabled
What CPAs Need to Know to Answer Pressing Questions
The U.S. federal government has a wide range of programs to help those in need, including health insurance for seniors (Medicare), discounted phone and Internet…
CPAs need to be aware of current tax developments in key states to properly advise clients that are doing business in multiple jurisdictions. As state…
Individual taxpayers have probably noticed that they have been required to answer questions on Form 1040 about virtual currency transactions in recent years. The U.S.…
The trend in today's modern CPA firm is to pursue business cloud accounting services (CAS) and only offer tax returns as an “add-on” service. Many…
B Corporations are for-profit entities that not only provide products or services with a goal of earning a profit for its owners, they also contribute…
The title of this article is more than a little misleading. The future is now—effective CFOs not only know this, they strive to bring the…
Operational Compliance in a Highly Regulated Environment
Avoiding Fiduciary Breaches, Regulatory Review, Corrective Contributions, and Monetary Sanctions
Plan administrators named in the plan document, or acting as administration fiduciaries by filing Form 5500, must administer their 401(k) plan in accordance with plan…
Key Personal Income Tax Decision
New York Appeals Court Holds Taxpayer’s Vacation Home Did Not Qualify as ‘Permanent Place of Abode’
In a significant development, a New York appeals court recently held that a taxpayer's vacation home did not, in fact, qualify as a “permanent place…
ICYMI | Department of Labor Position on Cryptocurrency Investment in 401(k) Plans
Practical and Legal Considerations
Many 401(k) plan sponsors mistakenly believe that they have no liability for investment fund options made available to participants in core investment menus and self-directed…
ICYMI | Recent California State and Local Tax Developments
New Provisions and Requirements May Impact Out-of-State Taxpayers
CPAs need to be aware of current tax developments in key states to properly advise entities doing business in multiple jurisdictions. Below is an overview…
Forté Capital’s Selected Statistics
Economic & Market Data
Forté Capital's Selected Statistics U.S. New Home Sales The recent rise in mortgage rates has cooled the sales of new homes. The rush to close…