Runyon Kersteen Ouellette

07/26/2026

Automatic Waiver of IRS Penalties Expected to Go Into Effect for Eligible Taxpayers

According to an article from the Journal of Accountancy, “the IRS announced it will soon automatically abate three types of penalties — failure to file, failure to pay, and failure to deposit — for taxpayers with a history of timely compliance through a new program called automatic exemption from penalty (AEP)”.

The article explains that the “AEP, expected to begin this summer, will apply to eligible original returns beginning with tax year 2025 and 2026 quarterly returns, as well as future tax periods, the IRS said. Taxpayers qualify if they have a history of timely filing the return and paying any tax due in the three prior years (or 12 consecutive quarters for quarterly returns).”

For further details check out the full article here - https://www.journalofaccountancy.com/news/2026/jul/eligible-taxpayers-to-get-automatic-irs-penalty-relief/? trk=organization_guest_main-feed-card_feed-article-content

06/24/2026

Are you required to file a 990? Be on the lookout for some potential changes coming your way soon!

In April, 2026, the US Department of Treasury announced that they are planning on making revisions to the current format of the Form 990 (the informational tax form for non-profit organizations). Per the Treasury, the goal is to “improve transparency, strengthen tax administration, and provide clearer reporting on certain activities of the tax-exempt organizations”. The main changes expected pertain to the breakout of government contracts, government grants, and fiscal sponsorship arrangements. No official changes have been made at this time.
#990

05/27/2026

Windows 11 is the latest version of Microsoft Windows. As with most other versions of this software, there are some new and different features with the latest updates. While some of these features help improve your efficiencies and operations of your computer, there are times when it is nice to keep certain features the same due to familiarity. Check out this article of the Journal of Accountancy which provides some tips on how you might be able to make Windows 11 work better for you.


https://www.journalofaccountancy.com/issues/2026/apr/optimize-windows-11-with-these-8-settings-tweaks/?trk=organization_guest_main-feed-card_feed-article-content

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05/18/2026

The use of Artificial intelligence or AI is a growing trend, whether you like it or not. As always, with new technology, comes new lingo; are you ready for it? This article from the Journal of Accountancy provides helpful tips to get you “in the know” of what these words mean so you can sound like an AI pro too! Some of the lingo included in this are:
· Artificial intelligence
· Generative AI
· Retrieval-augmented generation
· Temperature
· Agentic AI
Check out the full article here - https://lnkd.in/eP6MSZZw


https://www.journalofaccountancy.com/issues/2026/may/defining-commonly-used-ai-terms/?trk=organization_guest_main-feed-card_feed-article-content

05/18/2026

The use of Artificial intelligence or AI is a growing trend, whether you like it or not. As always, with new technology, comes new lingo; are you ready for it? This article from the Journal of Accountancy provides helpful tips to get you “in the know” of what these words mean so you can sound like an AI pro too! Some of the lingo included in this are:
· Artificial intelligence
· Generative AI
· Retrieval-augmented generation
· Temperature
· Agentic AI
Check out the full article here - https://lnkd.in/eP6MSZZw

This link will take you to a page that’s not on LinkedIn

05/18/2026

The use of Artificial intelligence or AI is a growing trend, whether you like it or not. As always, with new technology, comes new lingo; are you ready for it? This article from the Journal of Accountancy provides helpful tips to get you “in the know” of what these words mean so you can sound like an AI pro too! Some of the lingo included in this are:
· Artificial intelligence
· Generative AI
· Retrieval-augmented generation
· Temperature
· Agentic AI
Check out the full article here - https://lnkd.in/eP6MSZZw


https://www.journalofaccountancy.com/issues/2026/may/defining-commonly-used-ai-terms/?trk=organization_guest_main-feed-card_feed-article-content

This article defines some Artificial intelligence (AI) terms and give examples in accounting.

04/07/2026

Have you heard about the latest savings accounts for Children? The One Big Beautiful Bill Act created Section 530A accounts (also known as “Trump accounts”). These can be used as a manner to help create a savings account for children to be used when they are older. For more information on these Section 530A accounts (or “Trump accounts”), check out this article put out by the Journal of Accountancy.
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03/04/2026

There is always a constant flow of updates being made to the accounting standards. Are you unsure of what is coming up for changes for fiscal year ending in 2025 or 2026? The Journal of Accountancy has put together a short summary of some of the items to expect.
Some of these include updates to:
-Tax basis accounting
-Cryptocurrency
-Business Combinations
-Credit Losses
Check out the article here - https://lnkd.in/eXqJxhC7

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