IRS Announces Significant Annual Inflation Adjustments for over 60 Tax Provisions for 2023
The IRS announced its annual inflation adjustments on October 18 in Revenue Procedure 2022-38. As expected due to soaring inflation over the past year, the tax adjustments are significant this year with most adjustments increasing around 6 to 7 percent.
Implementing ASC 842 New Accounting for Leases: What Labor Unions Need to Know
Whether we like it or not Accounting Standards Codification (ASC) 842 is here. Labor unions have a lot on their plates and a new accounting standard on leases may not be at the top of the priority list. However, the time is now to implement if you haven’t done so already.
Provisional Billing Rates vs. Forward Pricing Rates
While a contractor’s forward pricing rates may sometimes get confused with their provisional billing rates, by the contractor and even the government, they are completely different rates developed for completely different purposes.
IRS Provides Tax Relief and Tax Filing Postponement for Taxpayers in North Carolina and South Carolina due to Hurricane Ian
IRS announces new Hurricane Ian tax relief and a new February 15, 2023 tax deadline for all individuals and businesses in both North Carolina and South Carolina.
PBMares Invites Non-Profits to Apply for Grants
PBMares LLP, invites nonprofits to apply during the second grant cycle of its Corporate Social Responsibility Program, PBMares Cares.
Free Resource Guides for Nonprofits
The VSCPA has released four free resource guides for nonprofit organizations to aid them in financial matters. Updated by specialists on the PBMares Not-For-Profit Team, topics include budgeting, income tax issues, responsibilities and risks, and auditing.
