• IRS Free File opens today in advance of tax season

    An improved version of IRS Free File begins its 17th filing season today as a dozen private-sector partners offer their brand-name products to help eligible taxpayers navigate the new tax reform law and electronically prepare their tax returns. The free online software program, accessible only through, is available for taxpayers to use in advance of the start of the filing season on Jan. 28.
  • How Occupancy Taxes Work

    Transient occupancy taxes are levied on facilities that provide accommodations for customers. The obvious model is a hotel or motel. But that might be the only thing that’s obvious about these taxes. Like sales taxes, transient occupancy taxes — sometimes called hotel or lodging taxes — can get applied in convoluted ways by state and local governments.
  • E-News - January 15, 2019 - Reminder: Independence Interpretation on Hosting Services Takes Effect July 1, Introducing New State Treasurer Rachael Eubanks, and more

  • Small Businesses Feeling Effects of Government Shutdown

    As the partial government shutdown enters its fourth week, small businesses across the country are starting to feel the effects of the shutdown resulting in unnecessary uncertainty at the start of a new fiscal year.
  • ESA Filing Date and Late Payment Penalty Changes

    On December 27, 2018, Governor Snyder signed Public Acts 541 and 505 of 2018 into law. These acts make changes related to filing and payment dates for the Essential Services Assessment (ESA) in 2019 and later assessment years.
  • Is There a Section 199A Deduction Cliff?

    In the months since the IRS published the Section 199A proposed regulations, people have discussed the absurd Section 199A deduction “cliff” that hits businesses providing a specified service as part of their operation.
  • No More Hitting the Snooze Button on Revenue Recognition

    We realize you’re busy, but that doesn’t mean you can keep hitting the snooze button on the Financial Accounting Standards Board’s (FASB) accounting standards that will soon come into effect for everyone. The accounting standard that needs your attention right now is the new revenue recognition model, issued as FASB ASU 2014-09 with subsequent amendments.
  • A new framework for audit quality disclosures

    In their continuing pursuit of the highest possible quality in their work, many audit firms produce annual transparency or audit quality reports to inform the public about their efforts. To help audit firms develop those disclosures, the Center for Audit Quality (CAQ) has developed a new Audit Quality Disclosure Framework. The CAQ is affiliated with the AICPA.
  • IRS Confirms Tax Filing Season to Begin January 28

    Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled.
  • FASB Proposes Changes in Accounting for Not-for-Profits

    The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) that would reduce the cost and complexity of accounting for goodwill and measuring certain identifiable intangible assets for not-for-profit organizations. Stakeholders are encouraged to review and provide input on the proposed ASU by February 18, 2019.

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