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The Progressive Accountant

The Progressive Accountant

IRS Issues Ag Coop Guidance

The Internal Revenue Service has issued guidance for deductions for domestic production activities for agricultural or horticultural cooperatives and customers. The guidance includes deductions for qualified business income and for calculating W-2 wages under section 199A(g).

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Canopy Pitches Eco-system for Tax Prep

Canopy is pitching its software eco-system as providing an advantage in using its newly introduced tax preparation software. Known for its tax resolution software, Canopy introduced the preparation software during the past tax season.

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KPMG Assessed $50-Million Penalty

KPMG has been hit with a $50-million civil money penalty by the SEC. The levy stems from issues that go beyond well-publicized leaking of confidential information from the Public Company Accounting Oversight Board to former KPMG auditors to cheating on training exams and deleting documents.

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