Author Profile: MyCPA LLP Admin
What Are The Common Warning Signs Of Financial Distress?
November 4, 2026
Owners, lenders, investors and other stakeholders often rely on a business’s annual financial statements to assess profitability, liquidity and overall f...
- Categories:
- Accounting and Audit
IRS Expands Retirement Plan Correction Options Under Updated EPCRS Rules
The IRS recently updated its Employee Plans Compliance Resolution System (EPCRS). Under Revenue Procedure 2026-34, effective Oct. 22, 2026, employers spons...
- Categories:
- Federal and State Tax
Beware of Tax Credit Scams: IRS Warns Taxpayers About Fraudulent Tax Savings Claims
The spooky season is upon us, and the IRS is warning about tax credit “tricks.” In some cases, scammers promote nonexistent credits, such as a “Nativ...
- Categories:
- Federal and State Tax
Year-End Tax Planning: Can Donating Excess Inventory Provide a Tax Deduction?
Year end is a good time for businesses to review inventory that’s unlikely to sell. Donating excess goods to charity could free up space, support a worth...
- Categories:
- Federal and State Tax
Federal Reserve Holds Interest Rates Steady: What It Means for Borrowing Costs and Tax Planning
The Federal Reserve maintained its benchmark interest rate on Oct. 28, keeping the federal funds rate target range at 3.75%–4% following September’s qu...
- Categories:
- Federal and State Tax
A Family Education Trust Can Benefit Generations To Come
Helping your children, grandchildren or other loved ones obtain a quality education can be one of the most meaningful ways to pass on your wealth. A tax-ad...
- Categories:
- Estates and Trust
Retirement Income and Taxes: What Retirees Need to Know About Taxable Benefits
Some new retirees are surprised to learn their retirement income — for example, from Social Security and tax-deferred retirement plans — is taxed. With...
- Categories:
- Federal and State Tax
Trump Accounts: AICPA Raises Concerns Over Employer Contributions and IRS Compliance Rules
Sec. 530A accounts (also known as “Trump Accounts”) offer a new way to save for children’s futures — including through employer contributions. But ...
- Categories:
- Federal and State Tax
IRS Introduces New IRA Compliance Resolution System to Correct Retirement Account Errors
Under Revenue Procedure 2026-33, the IRS has established a new program to help IRA owners and custodians correct certain IRA errors. The IRA Compliance Res...
- Categories:
- Federal and State Tax
Supreme Court to Review Federal Ban on Home Distilling: A Taxing Power Debate
The U.S. Supreme Court has agreed to review an 1868 federal ban on distilling spirits at home. The tax connection? Challengers argue Congress exceeded its ...
- Categories:
- Federal and State Tax