Featured Articles & Tips Blog

Welcome to the CPA Advisory Group’s Featured Articles Blog. Here we share tax and accounting news and tips for our clients on a regular basis. Please feel free to suggest ideas for topics you would like to see addressed, by dropping an email to info@cpaagi.com. Enjoy the articles and subscribe to our newsletter for periodic email updates.

IRS prodded to work more on closing tax gap

IRS prodded to work more on closing tax gap

From Accounting Today — By Michael Cohn — The Internal Revenue Service (IRS) is being pushed by the Government Accountability Office to do more to close the $428 billion annual tax gap by using the extra $80 billion it's getting over 10 years from Congress to improve...

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Probes sought of whether Trump used IRS against critics

Probes sought of whether Trump used IRS against critics

From Accounting Today — By Michael Cohn — Democrats on the tax-writing House and Ways Means Committee are asking the Justice Department and the Treasury Inspector General for Tax Administration to investigate former President Donald Trump's attempt to enlist the...

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Tax breaks after 50 you can’t afford to miss

Tax breaks after 50 you can’t afford to miss

From AARP — If you’re 50 or older, there is one benefit to reaching this milestone that you may be overlooking: tax breaks aimed right at you. Now you can contribute more to your Roth or traditional individual retirement account (IRA), to your employer-sponsored plan...

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IRS increases allowed 401(k) contribution limits for 2023

IRS increases allowed 401(k) contribution limits for 2023

From CNN Business — By Jeanne Sahadi — The IRS this month announced record increases in contribution limits to 401(k) and other tax-deferred retirement plans for 2023. Starting next year, you will be allowed to contribute up to $22,500 into your 401(k), 403(b), most...

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IRS changing how 403(b) plan beneficiaries receive funds

IRS changing how 403(b) plan beneficiaries receive funds

From MSN.com — By Christine Williams — In an effort to streamline the regulation that governs how retirement accounts can be used, the IRS has proposed a change for 403(b) plans — a type of workplace retirement plan use mostly by public and non-profit employees....

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FTC advice: Five things to do to protect yourself online

FTC advice: Five things to do to protect yourself online

From the Federal Trade Commission (FTC) — By Alvaro Puig, Consumer Education Specialist — Your online accounts, computer, and phone hold a lot of your personal, financial, and health information. Information that’s valuable to you — and to scammers who try to steal...

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