IRS releases FAQs on transition to electronic payments
The Internal Revenue Service posted a fact sheet about its move away from paper checks to electronic payments for taxes and tax refunds.

Maryland CPAs lobby for licensure changes
The Maryland Association of CPAs visited the state capital in Annapolis to lobby for changes to CPA licensure and other laws.

AAFCPAs acquires McLaren
AAFCPAs, a Top 100 Firm based in Westborough, Massachusetts, has acquired McLaren & Associates CPAs, a firm specializing in forensic accounting.

Senate Democrats, TIGTA warn about IRS tax season readiness
A group of Senate Democrats and the Treasury Inspector General for Tax Administration are raising questions about the impact of IRS funding cuts.

Small firms: Stop trying to serve everyone
Knowing exactly who you serve — and why — is becoming one of the most powerful competitive advantages a small firm can develop.

1 in 3 retirees faces an RMD tax penalty. Here's how advisors help fix it
Missed IRA RMDs can cost clients thousands, Vanguard research shows. But financial advisors can help erase tax penalties and avoid future ones with a few key strategies.

Billionaire Tom Steyer says he'd vote for California wealth tax
The announcement adds a prominent voice to a debate that has divided top Democrats and rattled Silicon Valley's elite.

Transforming invoice management with AI
The integration of AI in tax processes can streamline invoice management, improving accuracy and freeing teams for higher-value tasks.

IRS extends deadline for amending IRA plans until end of 2027
The IRS issued a notice extending the deadline for making certain amendments to IRAs, SEP arrangements and SIMPLE IRA plans until Dec. 31, 2027.

IRS provided penalty relief to 4.9M taxpayers
The IRS offered relief from failure-to-pay penalties to nearly 5 million taxpayers during the pandemic, but 3.6 million have since taken steps to pay tax debts.