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AICPA News – June 2025

CPA Practice

reported increased levels of applications in 2024, up from 43% of programs seeing application growth in 2023. Undergraduate accounting enrollment increased 12% in fall 2024 compared to fall 2023. The study marks the fifth annual benchmark that now includes 2023 data. The share of growth in applications hit a five-year high.

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AICPA News – July 2025

CPA Practice

Employee Benefits Tax TRP Provide a Revenue Procedure related to Section 305 of the SECURE 2.0 Act of 2022, as part of the Consolidated Appropriations Act, 2023, addressing the expansion of the Employee Plans Compliance Resolution System. Exempt Organizations Tax TRP Provide an update on the potential revisions to Rev.

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Professionals on the Move – July 2025

CPA Practice

Patrick Hickman, CPA , joined the firm in 2023 following a decade in public accounting with other firms. His areas of tax expertise include partnerships, including allocations, tax planning and structuring. She received her B.A. from the University of Findlay, and her M.B.A. from West Virginia University. He holds a B.S.

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Tax Fraud Blotter: Sick excuses

Accounting Today

million payroll tax scheme. He failed to collect, account for and pay over payroll taxes to the IRS on behalf of each of these companies from 2014 to 2022, a total of at least $3.5 After signing his guilty plea in October 2023, he embarked on a campaign to avoid responsibility for his conduct.

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Research & Development (R&D) Tax Credits: What E-Commerce Companies Need to Know

Withum

Payroll tax offset: Beginning in 2016, qualified small businesses (defined as those with less than $5 million in gross receipts and those in their first 5 years of existence) can elect to use the R&D tax credit to offset their quarterly payroll taxes, which can provide a significant cash flow benefit.

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Detroit CPA Sentenced for Federal Loan Fraud in Pennsylvania

CPA Practice

Federal prosecutors indicted Parker and co-defendants, Virginia Humphries of Pittsburgh and Marc Andrew Martin of Detroit, in June 2023. million in COVID-19 relief loans in Pennsylvania. million in COVID-19 relief loans in Pennsylvania. Officials said the Small Business Administration approved 226 of those applications.

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Tax Planning for Student Athletes: Working with NIL Collectives

CTP

NIL collectives began to spring up after that pivotal court case in 2021, and by 2023 most of the Power Four schools (the most prominent NCAA Division I football conferences) had NIL collectives. Nonprofits are also still responsible for payroll taxes and may need assistance finding tax credits to help mitigate that cost.