President Biden has released his proposed budget for the federal government for the 2024 fiscal year. The budget, which aims to cut the deficit by nearly $3 trillion over 10 years, includes numerous
U.S. Supreme Court Limits IRS Penalties for Not Reporting Foreign Accounts
Last week, the U.S. Supreme Court limited the ability of the IRS to impose penalties on those who do not report foreign accounts. The Case & the Bank Secrecy Act
Californians Impacted by Winter Storms Receive Extension to File Taxes
The state of California is conforming with the IRS and extending the tax filing deadline for Californians affected by December and January winter storms. The extended deadline for 2022 filings
Reading the tea leaves: Potential tax legislation in the new Congress
The 2022 mid-term election has shifted the scales in Washington, D.C., with the Democrats no longer controlling both houses of Congress. While it remains to be seen if — and
Section 174 and Capitalization of R&D Costs
One delayed tax impact of the 2017 Tax Cuts and Jobs Act (TCJA) went into effect as of January 1, 2022. Taxpayers may no longer take current deductions for research
IRS Extends 2022 Tax Filing for Californians Affected by Recent Storms
California residents and businesses in certain counties have been given an extension until May 15, 2023 to file their federal income tax returns for 2022. The extension is for taxpayers
117th Congress Rushes to Pass a $1.7 Trillion Omnibus Spending Package before it ends January 3, 2023: What’s Included?
Just before funding for the federal government was set to expire on December 23, 2022, Congress passed—and President Biden is poised to sign—the Consolidated Appropriations Act of 2023. The nearly
Gordon MacLean of RJI CPAs is Recognized by the OCBJ as One of the 500 most Influential People in OC
Gordon has been an audit partner with RJI CPAs for over 11 years and specializes in audits of publicly traded and privately held businesses. Gordon has been in the public
Act now to reduce your business’s 2022 tax bill
It’s been a tumultuous year for many businesses, and the current economic climate promises more uncertainty for the short term, if not longer. Regardless of how your company has fared
