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Accounting & Audit

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Form 990-N Filing Alert: New Sign-in Process

Who Should File Form 990-N? Most small tax-exempt organizations that have an annual reporting requirement can satisfy that requirement by filing Form 990-N, Electronic Notice...
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IRS Relief for Late Filing Penalty

On August 24, 2022, the Internal Revenue Service (IRS) announced through release Notice 2022-36 that it will be providing relief to certain taxpayers for the...
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Calibre CPA Group - An Overview of ASC842

An Overview of ASC 842 – Lease Accounting

In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-02, which was concurrently released alongside Accounting Standards Codification (ASC) 842, which...
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OLMS Rescinds Form T-1 Filing Requirement

The Office of Labor-Management Standards (OLMS) today published a final rule rescinding the Form T-1 Trust Annual Report.  The final rule’s effective date is January...
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Presentation & Disclosure Requirements in ASU 2020-07

The Financial Accounting Standards Board (FASB) has issued an accounting standards update ASU No. 2020-07 (ASU) Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial...
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Proposed Revisions to Form 5500

The Department of Labor, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation (PBGC) (collectively “Agencies”) proposed revisions to the Form 5500 Annual Return...
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Child Tax Credit - Calibre CPA Group

Child Tax Credit

A child tax credit for up to $2,000 per qualifying dependent may be allowed to be claimed on an individual’s federal income tax return in...
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A Day in the Life – Earl, Manager

A Day in the Life at Calibre CPA Group- Earl S. McKay, Manager What is your title? Describe what you do. I am a Manager...
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A Day in the Life - John

A Day in the Life – John, Partner

A Day in the Life at Calibre CPA Group- John Leggero, Partner What is your title? Describe what you do. I am an Audit Partner...
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