Tag Archives: taxes

The Impact of IRS Workforce Reductions on Tax Enforcement: What Taxpayers Need to Know by Michael J. Brennan, CPA

Posted on March 19, 2025 by Michael Brennan

The Trump administration’s calls to reduce the size of the federal government and make the federal workforce more efficient[1] are expected to have a significant impact on the work of the Internal Revenue Service (IRS) and potentially end the agency’s 10-year plan to expand its tax compliance enforcement activities. However, savvy taxpayers should not assume […]

Is it Time for your Business to Purchase Lease Accounting Software? by Whitney K. Schiffer, CPA

Posted on February 02, 2022 by Whitney Schiffer

Time is up for private companies to comply with the new lease accounting standards (ASC 842), which require businesses to begin recording the assets and liabilities of all leases, including operating leases, on their balance sheets. For calendar-year companies, the new lease accounting standard is effective on January 1, 2022. Private companies that have already […]

What’s In the Latest Draft of Proposed Tax Law Changes? by Jeffrey M. Mutnik, CPA/PFS

Posted on October 04, 2021 by

On September 25, the House Budget Committee voted to approve the latest round of recommended changes to the U.S. tax code as part of the president’s $3.5 trillion Build Back Better Act. The draft legislation calls for higher taxes, but at rates that are not as high as previously proposed. In addition, it fails to […]

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