News Updates

After decades of increased property taxes, Nebraskans deserve true tax reform, not a tax shift. In crafting a tax package this session, senators should focus on creating long-term fiscal solutions, not “solving” one problem by creating another, says John Gage.

The IRS issued the 2024 depreciation limitations for passenger automobiles, including those for which bonus depreciation is applied.

The Revenue Committee heard testimony Feb. 1 on more than half a dozen proposals to broaden the state sales tax base in an effort to reduce local property tax collections.

Lawyers, accountants, business groups and hunters not so keen on Pillen proposals.

Gov. Jim Pillen's plan to use excess cash reserves to "jump-start" his property tax relief proposal got a rough reception Tuesday during a state legislative hearing.

Instead of relying on tax shifts and promises of a quick fix, local property tax relief is best solved by the disciplined actions of locally elected officials under the informed and watchful eye of the local taxpayer and property owner, says former State Senator Jim Smith of the Platte Institute.

Overall, the number of jobs for accountants is expected to grow at least 4% over the next decade, with more than 15,000 jobs added each year, the Bureau of Labor Statistics reports.

The beneficial ownership information rules and the penalties for violating them just went into effect last month. Now the penalties have increased.

Enrollment in accounting programs is in decline. Three academic leaders offer suggestions for improvement.

While a prefilled tax return may sound like it would make filing season less stressful, the current U.S. tax code is too complicated for it to work, says the Tax Foundation. Lawmakers should focus first on simplifying the tax code and strengthening existing taxpayer service before implementing a direct file program, the Foundation states.

The leaders of the House and Senate have come up with a new budget deal, and many people aren’t happy. It still needs passing by January 19th, or else the government, evidently, may shutdown. We doubt that this will happen, but the fight over government spending seems to drag on year after year after year.

The Treasury Inspector General for Tax Administration said in its annual report that the total revenue was about $790 billion more than in FY 2021!

Auditors providing assurance services to not-for-profit entities implementing the new leases standard will benefit from these tips and insights.

The new comprehensive digital booklet provides students and CPA candidates with the latest guidance on the CPA Exam and licensure requirements, career pathways, study options, and in-depth information they need to start their journey toward becoming a CPA.

CPA firms are resorting to strategies like hiring workers abroad, raising starting salaries, offering fully remote jobs, and hiring staff who haven't graduated college.

The artificial intelligence tool ChatGPT has become so popular that its free service is sometimes at capacity. Here is a closer look at ChatGPT and a list of alternative AI chatbots, as well as their strengths and weaknesses.

While many voters might not care about how much tax corporations are asked to pay, they do care about the opportunities these employers provide in their communities, so a state’s tax policies have to be aligned with the goal of landing corporate relocations and expansions. Nebraska currently has the 18th highest corporate income tax among all states. It used to be even higher.

The AICPA is making multiple changes to the CPA Exam to reduce exam construction complexity, improve CPA Exam software performance, and provide greater flexibility in future delivery, all while maintaining a rigorous exam. Rather than implement these changes now and delay score releases, the AICPA will make these changes concurrently with the launch of the CPA Evolution-aligned CPA Exam in January 2024, taking advantage of score delays that will occur with the launch of the new exam.

In December 2021, the STEM Education in Accounting Act, S. 3398, was introduced in the Senate. The legislation would help bolster the argument that accounting is a STEM field by allowing STEM K-12 grant funding to be used for accounting awareness and education.

The newly launched Nebraska Chamber Foundation Workforce & Economic Dashboard offers insights into Nebraska's economy.