CPN Accounting

05/08/2026

If you are unsure whether an IRS notice is legit, I always advise my clients to log into their IRS account and check for notices or messages there first. However, as the article mentions the IRS is doing away with paper check refunds and will require an account be submitted when claiming a refund.

Taxpayers and practitioners are unsure whether the CP53E notices they have received are scams or simply sent in error, a confusion heightened by the inclusion of a QR code.

11/29/2025

What are quarterly estimates?

Quarterly estimates are taxes paid to the IRS and to the state your business operates in. The best way to describe quarterlies is to take the example of a paycheck earner (W-2 employee). The employee receives a check from the company for their work less the taxes the company has withheld from the check. The company takes the amounts that are withheld and sends them to the IRS and state each quarter. The agencies are receiving the money throughout the year, not just in April. So of course, they want small business money throughout the year as well, hence the reasoning behind quarterly estimates.

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11/29/2025

Good news for taxpayers that have been filing on time.

During a session at the AICPA National Tax Conference, the national taxpayer advocate said the IRS will start applying first-time abatements automatically next year.

10/30/2025

It’s Q4 and this is the perfect time of the year to get your finances and your taxes organized.

Take look at your revenue, total your expenses, and get a sense of where your profits will end up this year. You still have time to make purchases and lower your tax liability. Or set up a retirement fund that will also give your business a tax break.

You also should be seeking a professional now if you need one for next year. Most of us will be booked by year end for new clients.

So if you need help or have questions, please feel free to reach out or book a free call at www.cpnaccounting.com

We believe in a personalized service and aim to make the process as easy as taxes can be.

09/26/2025

If it seems too good to be true, it probably is.

Everyone wants tax savings, but at what expense.

Don't believe a lot of what you see on social media.

The IRS is warning taxpayers of two social media tax “tips” in particular.

09/11/2025

When you file your tax return especially with a professional, you will usually receive estimated tax payments to make for the next year.

But those estimates are only based off of the same exact income, deductions, and other factors that happened in the prior year.

How many of your businesses are exactly the same year after year? Ideally you are in growth mode and making more so you need to meet with a professional and tax plan throughout the year.

There may be new tax strategies you are not even taking advantage of. Just for 2025 alone there are several tax changes.

While we may never be free of taxes, there are ways to plan and minimize where you can so you are not caught off guard come April.

04/18/2025

If you missed the April 15 tax deadline, you can avoid accruing penalties and interest by filing now and paying as much of the taxes you owe as soon as you can. www.irs.gov/payments

03/26/2025

I am so grateful and humbled to be nominated as Best Accountant for the second year in a row. I'm coming up for air from taxes for a few minutes to post this.

I had no idea how much one community could grow my business, but I have found it in B*W.

I have met so many amazing women entrepreneurs that I can now happily call my clients.

Please take a few minutes to vote for me and other amazing women nominees.
✨VOTE HERE: https://bostonbusinesswomen.com/the-boston-business-women-awards/

11/23/2024

Some helpful insight that I just recently shared with my customers to get ready for taxes.

As we near year end, I want to share some important points for you to keep in mind (and take action on, if necessary) before the end of the year:

⭐️UPDATE YOUR BOOKS: One of the most important things you can do for your business (and yourself) is to understand how your business is performing to date NOW, not waiting until after the year has finished. To do that, you will want to update whatever system you use (QuickBooks, spreadsheets, etc) to get a snapshot of income, expenses, and profit to date. This helps you to know if you can take further action now to minimize your taxes. Ideally, this is done throughout the year, but you still have time if you haven’t done it yet. This also makes it easier for your tax preparer when it comes time to file and helps avoid filing delays.

⭐️CONSIDER PURCHASES: Once you are aware of your profits and cash balances, think about whether you need to make any larger purchases before year end. Will those purchases reduce your tax liability this year or would it be better to wait until next year?

⭐️RETIREMENT CONTRIBUTIONS: Determine if you want to fund any retirement accounts with cash available. If the plans are already established, in most situations you’ll have until the filing date to fund those accounts (unless they are the employee portion). Self-employed retirement accounts help to reduce taxes and help you put away money for the future.

⭐️GATHER DOCUMENTS: Gather any documents you’ve received through the year that you may need for filing your taxes and keep them in one handy place or an electronic folder on your computer. Also, think about any expenses or receipts you may not have entered into your books and make sure to account for them as well.

10/25/2024

FYI

⭐️The IRS has started a new unit to focus on pass-through entity tax filings. That means SCorps especially. 💰

A field operations unit, announced last fall, has started work in the Internal Revenue Service's Large Business and International Division to streamline audits of pass-through entities.

The unit is devoted to ensuring compliance of pass-throughs, including partnerships, S corporations and trusts — an area the IRS says has historically been under-scrutinized. Previously, pass-through exams were divided between LB&I and the Small Business/Self-Employed Division, based on the size of the entity.

Revenue agents in pass-through field operations will be assembled into geographically based teams: LB&I will start pass-through exams, regardless of entity size; SB/SE will continue to examine pass-throughs as part of a related exam of a return.

"We will be able to reverse our historically low audit rates for complex arrangements employed by certain high-wealth individuals and large entities," said IRS Commissioner Danny Werfel, in a statement.

Amid the agency's increased focus on wealthy entities, the IRS launched examinations of 76 of the largest partnerships with average assets over $10 billion that includes hedge funds, real estate investment partnerships, publicly traded partnerships, large law firms and other industries. The IRS chief counsel also created an associate office to focus on partnerships, S corps, trusts and estates.

09/25/2024

Good news for MA tax filers!

MA just announced a tax amnesty. 💰

"Taxpayers who meet certain criteria must request amnesty, file returns, and pay outstanding tax and interest liabilities to have eligible penalties waived. Additionally, non-filers, or individuals who failed to file required returns with DOR, may benefit from a three-year limited look-back period."

So if you haven't filed for a few years or owe penalties, check this link out to see if you qualify.

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