News Updates

KPMG’s statement cited the time of and cost of the 150-hour rule as one of the top barriers that lead students to opt against becoming accounting majors, noting that they are already seeing the related shortage of accountants impact businesses and smaller firms.

Calling all CPAs — if you have been licensed for at least three years and have supervised newly licensed CPAs during the past year, you can volunteer to participate in an online survey and virtual focus group to provide feedback on the CPA Competency-Based Experience Pathway.

Tax and finance departments face a trifecta of concerns this year: increased regulations, constrained budgets, and a severe talent shortage. However, they’re optimistic about generative AI’s ability to relieve at least a little of the pressure.

Mark Koziel, CPA, CGMA, has been named as the next CEO for the Association of International Certified Professional Accountants. Koziel will begin the role in January 2025. He currently leads Allinial Global, an association of independent accounting and advisory firms with $6 billion in collective revenue.

The Nebraska Department of Revenue, Property Assessment Division, has posted the 2024 Legislative Changes.

Two lawyers are competing to replace the term-limited Sen. Lou Ann Linehan in representing District 39, which includes Elkhorn, Waterloo, and part of west Omaha. Tony Sorrentino, 70, is a CPA and an attorney with a background in health insurance and finance, while Allison Heimes, 33, is an attorney focused on immigration.

The Treasury Inspector General for Tax Administration estimated that a change in policy for pre-refund examinations resulted in $2 billion being paid for erroneous employee retention credit claims.

The Social Security Administration announced an increased maximum amount of wages subject to Social Security tax in 2025. The cost-of-living adjustment for Social Security benefits for 2024 is slightly lower than last year’s COLA.

Wire transfer fraud, typically perpetrated via business email compromise, is a known risk to all types of businesses, including CPA firms. When a CPA firm handles client money, additional risk ensues.

Advising clients in times of political and economic uncertainty requires agility, foresight, and clear communication. With elections this year and the impending sunset of certain provisions of the Tax Cuts and Jobs Act (TCJA), P. L. 115-97, at the end of 2025, there is now a great need for proactive and well-informed guidance.

The special per diem rates that a taxpayer uses in travel and business expenses will be higher starting Oct. 1, as provided by the IRS.

Forvis Mazars looks at some significant legislative tax developments in 2024 to help you prepare for next year.

The “Super Bowl of tax policy” is fast approaching. At the end of next year, much of the 2017 changes to tax policy will expire, giving whichever party is in power the chance to substantially rewrite the tax code.

Read Chris Chappelear's recent op-ed in the Omaha World-Herald.

Forvis Mazars explores positions on key topics that may affect businesses and individual taxpayers this election.

Tax policy has become a significant focus of the U.S. 2024 presidential election. The Tax Foundation has created a tool to keep track of the tax policies proposed by presidential candidates during their campaigns.

Core sections of the newly designed CPA Exam were graded quarterly during the testing model’s first year, but 16 grading periods are scheduled for 2025.

Kelly Williams thought ChatGPT versions 3.5 and 4 were impressive. Then she tried ChatGPT-4o and was blown away. Learn about this powerful tool — and ways CPAs can use it — in this Tech Q&A article.

A bipartisan law, passed to protect U.S. economic and national security, requires many small businesses to report beneficial ownership information to the U.S. government about the real people who own or control them.

A KETV investigation reveals Gov. Jim Pillen and his businesses were eligible for more than $64,000 in tax credits that most Nebraskans won't be able to cash in on — all due to a bill passed during the special session.