Tax Forms

Pro Rata Share of Subpart F Income, Tested Income, or Tested Loss: What CPA Firms Must Do Now

The IRS published proposed regulations on August 26, 2026 that reshape how U.S. shareholders must calculate their pro rata share of Subpart F income, tested income, or tested loss from controlled foreign corporations. The rules affect any CPA firm with clients who hold CFC interests — including S-corporation shareholders, individual investors, and partnerships with offshore structures. Here is a focused action brief for firm owners.

Guidance on Eligible Investments for Trump Accounts: What CPA Firms Must Do Now

The IRS released proposed regulations on August 21, 2026 defining eligible investments for Trump Accounts—the new minor-beneficiary savings vehicles created under recent tax legislation. The rules restrict allowable assets until the beneficiary turns 18 and affect trustees, account administrators, and CPAs advising individual and employer-plan clients. Here is what small and mid-size CPA firms need to know and do this week.

Employer Contributions to Trump Accounts and Nondiscrimination Rules Explained for CPAs

On August 11, 2026, the IRS published proposed regulations governing employer contributions to Trump accounts and nondiscrimination rules for dependent care assistance programs. This news brief extracts the operational impact for small and mid-size CPA firms and lists what to do this week across 1040, S-corp, partnership, and nonprofit client files.

Health Insurance Deduction for S Corp Owners: What CPAs Must Get Right

The health insurance deduction for S corp owners involves a precise chain of steps — payroll add-back, W-2 Box 1 inclusion, and a 1040 deduction — that most payroll platforms get wrong by default. This guide gives CPAs a staff-ready workflow to execute the deduction correctly on every return, catch prior-year errors, and avoid the Section 199A trap that quietly kills the deduction for many S corp shareholders.

Installment Sale Reporting: How CPAs Handle Principal and Interest Splits for Clients

Installment sale reporting is one of the most workflow-intensive annual tasks a CPA can inherit — gross profit percentages that travel across years, depreciation recapture that hits in Year 1 regardless of cash received, and related-party resale traps that can accelerate a client's entire gain. This practitioner guide walks through Form 6252 mechanics, interest allocation rules, dealer vs. non-dealer distinctions, and how AI-native tools eliminate the copy-forward errors that cost firms malpractice exposure.

Foreign Earned Income Exclusion: How CPAs File for Expat Clients

Most FEIE content is written for taxpayers, not for the CPA managing a queue of expat returns. This guide covers Form 2555 mechanics, a repeatable decision tree for choosing between the foreign earned income exclusion and the foreign tax credit, state tax traps, and how to package expat work as a high-margin advisory service line.

Amended Tax Return Workflow: How CPAs Fix Client Errors Without Chaos

Amended returns are a profit-draining blind spot for most CPA firms — handled reactively, scoped poorly, and almost never priced correctly. This guide maps a repeatable amended tax return workflow covering intake triage, QA delegation, IRS tracking, and billing so every 1040-X your firm processes turns into a structured engagement instead of free rework.

Clergy Tax Returns: How CPAs Handle Minister Housing Allowances and Self-Employment

Clergy tax returns sit at the intersection of employment law, IRS code, and church governance — a combination that trips up even experienced CPAs. This guide walks through minister dual tax status, the Section 107 housing allowance exclusion, self-employment tax obligations, voluntary withholding agreements, and how to build an engagement workflow that handles every minister client consistently.

Agency Information Collection Activities: IRS Seeks Comments on Contractor Disclosure Burden

The IRS published a Paperwork Reduction Act comment request on July 27, 2026, targeting the disclosure of return information under written contractor agreements for tax administration. Small and mid-size CPA firms that serve government contractors, nonprofits, or multi-entity clients with IRS data-sharing agreements have a narrow window to comment. Here is the operational breakdown your firm needs.

Information Reporting and Transfer for Valuable Consideration Rules: What CPA Firms Must Do Now

The IRS published final regulations on July 9, 2026 that extend information reporting and transfer for valuable consideration rules to Section 1035 exchanges of life insurance contracts. Small and mid-size CPA firms with individual and business clients holding life insurance policies need to act now to identify affected transactions and update their intake workflows.

Qualified Domestic Trust Regulations Under Section 2056A Revised by IRS

The IRS published final regulations on July 10, 2026, revising the Qualified Domestic Trust rules under Section 2056A to eliminate outdated references and modernize filing procedures. CPA firms with clients who have noncitizen spouses in estate plans need to review open files now. Here is what changed, who it affects, and a short action checklist for this week.

Increase in Threshold for Requiring Information Reporting

On July 2, 2026, the IRS published a hearing notice for proposed regulations (REG-113229-25) that would raise the dollar thresholds triggering 1099 information reporting and backup withholding for trade or business payments. CPA firms serving self-employed clients, S-corps, partnerships, and nonprofits need to understand the operational implications now — before the public comment window closes.

Nonprofit Audit Preparation: How CPAs Streamline Form 990 and Compliance Reviews

Nonprofit audit preparation is one of the most document-intensive engagements a CPA firm handles — combining Form 990 accuracy, Uniform Guidance compliance, and board governance reviews into a single high-stakes workflow. This guide walks through the full nonprofit audit lifecycle and shows how AI-native practice management platforms auto-flag compliance gaps before the auditor even opens the file.

CAF Number for CPAs: What It Is, How to Get One, and Why It Matters

Your CAF number is more than a one-time IRS registration — it is the foundation of every client authorization your firm will ever file. This guide explains what the centralized authorization file number is, how to obtain it through Form 2848 and IRS e-services, and how growing CPA firms use AI-native practice management to track dozens of active POAs at scale without dropping a single IRS notice.

Form 8879-TA: What CPAs Need to Know About the E-File Signature Authorization for Trump Account Elections

Form 8879-TA, released in December 2025, is the IRS e-file signature authorization for Form 4547, Trump Account Election(s) — not for trusts and estates (that's Form 8879-F). This guide covers when 8879-TA is required, who signs it, the Practitioner PIN rules, ERO responsibilities, and retention requirements.

IRS Installment Agreement CPAs: How to Negotiate Payment Plans for Clients

When clients owe back taxes they cannot pay in full, a properly negotiated IRS installment agreement is often the fastest path to resolution. This guide walks CPAs through eligibility thresholds, Form 9465, streamlined versus non-streamlined agreements, Direct Debit advantages, and how AI-powered practice management tools keep ongoing compliance from slipping through the cracks.

Returns Relating to Sales or Exchanges of Certain Partnership Interests: What CPAs Must Do Now

The IRS published final regulations on May 20, 2026 modifying information reporting obligations for sales or exchanges of certain partnership interests — specifically those holding inventory or unrealized receivables. CPA firms with partnership clients need to review engagement scope, update intake workflows, and flag affected returns before the next filing deadline.