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Fayetteville Office (479) 571-0811
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Keith M. Glass, CPA CGMA

479-571-0811
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  • Email
    info@nwacpa.com
  • Phone
    (479) 571-0811
  • Address
    Fayetteville:
    2580 N College Ave
    Fayetteville,AR 72703
    (479) 571-0811

    Prairie Grove:
    209 W Buchanan St
    Prairie Grove,AR 72753
    (479) 846-3424
RSS AICPA Tax News
  • 6 key areas of paid tax preparer regulation highlighted in AICPA letter to Congress May 12, 2021
    The Biden administration says the IRS should be given the authority to regulate paid tax return preparers who are currently unregulated, and the AICPA offers its recommendations in six key areas.
  • IRS clarifies pandemic relief for dependent care assistance programs May 11, 2021
    Dependent care assistance program benefits carried over or available during an extended claims period under special temporary COVID-19 relief provisions retain their status as excludable from employees’ gross income and wages, the IRS explains in a notice.
  • 2022 HSA, excepted-benefit HRA amounts increase slightly May 10, 2021
    Maximum health savings account annual contributions will increase by $50 to $3,650 for self-only and $100 to $7,300 for family coverage for 2022. Inflation adjustments in Rev. Proc. 2021-25 also increase maximum out-of-pocket expenses for high-deductible health plans.
  • 2021 child tax credit, EITC, and premium tax credit limits updated April 26, 2021
    The IRS issued guidance on the amount of and limitations on the child tax credit, earned income tax credit, and premium tax credit available for taxpayers for the 2021 tax year as a result of changes to those provisions enacted by the American Rescue Plan Act of 2021, P.L. 117-2.
  • Expenses paid with 2020 PPP loans can be deducted on 2021 tax returns April 22, 2021
    The IRS issued guidance on a safe harbor permitting qualifying taxpayers who have PPP loans, who did not deduct expenses related to those loans paid or incurred in 2020 on their 2020 returns, to deduct the expenses on their returns for the immediately subsequent tax year, instead of on an amended return or administrative adjustment […]
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