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Accounting News

Tax Changes and Regulations Impacting 2020

January 17, 2020January 17, 2020 Accounting News, Blog, Nonprofit, Tax

Parsonage Allowances U.S District  Court found that the non-taxability of parsonage allowances was unconstitutional in the case of Gaylor v. Mnuchin. This decision was overturned by the Seventh Circuit Court on March 15, 2019, which found that the provision (Code […]

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How the New FASB Standard Impacts Nonprofit Audit Fees

August 7, 2019November 25, 2019 Accounting News, Blog, Nonprofit

It’s hard for nonprofit executives to put a price on an audit, for good reason. They are difficult to conduct due to several factors, including the auditor’s time to complete the task, the amount of risk an auditor must assume, […]

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3 Advantages of a Nonprofit Independent Audit

July 22, 2019November 25, 2019 Accounting News, Blog, Nonprofit

The Internal Revenue Service (IRS) doesn’t require nonprofits to have independent audits, but that doesn’t mean your nonprofit never needs an audit. Some federal, state, and local government agencies require audits, as do some banks and foundations. Generally, the requirements […]

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4 Ways to Make a Nonprofit Audit Less Scary

July 22, 2019November 25, 2019 Accounting News, Blog, Nonprofit

Having an independent audit is a significant endeavor. Not only is it an expense, but it also requires a lot of preparation. The auditors will need access to all of the information they need to help them carry out their […]

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Identity Theft Checklist – Action Steps for Recovery

December 20, 2018November 25, 2019 Accounting News, Blog

Identity theft is a complex and evolving threat, and one that costs U.S. citizens billions of dollars annually. Without question, it is one of the most pressing challenges facing our country. Unfortunately, the problem is growing, and fraudsters are always […]

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IMPORTANT UPDATES

August 5: The Inflation Reduction Act Unleashes A Tougher, Armed IRS. Learn more.

July 1: IRS increases mileage rate for the remainder of 2022 to 62.5 cents per mile. Learn more.

March 15: SBA Announces Existing COVID-19 EIDL Program Borrowers to Receive an Additional Deferment

Feb. 18: The IRS is successfully processing tax returns and delivering refunds starting January 24.

Feb. 16: IRS provides details on relief for Schedule K-2 and K-3 reporting and new frequently asked questions (FAQs)

Feb. 14: IRS suspends more than a dozen automated notices, including collection issues. Visit IRS.gov for payment options.

Jan. 8: Tax filing deadline is April 18, 2022. Why the extension?

Recent Posts

  • IRS Funding Boost and Its Effect on You
  • Inflation Reduction Act of 2022 – Summary
  • Small Business Taxpayers: Accounting Method Changes
  • Find A Quick Way To Protect Sensitive Information
  • Year-End Business Tax Test

Contact Us

M.S. Febrey CPA
345 Main Street
Gaithersburg, MD 20878

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(301) 657-1040

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Tax Return Due Date 2022

Federal: Monday, April 18, 2022
MD/State: July 15, 2022

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RSS Washington Times Business News

  • Trump Organization CFO pleads guilty in tax evasion case August 18, 2022
  • WH to accelerate monkeypox vaccine delivery to states, LGBT events August 18, 2022
  • American traffic fatalities hit 20-year high in the first quarter of 2022, says NHTSA data August 18, 2022
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