MRPR Blog

Celebrating MRPR's 50th Anniversary: Opportunity in Numbers

Posted by MRPR on Jul 9, 2024 9:05:04 AM

At MRPR, we live by our motto of Opportunity in Numbers. As we celebrate our biggest number yet, our 50th Anniversary, we’re taking the opportunity to reflect on the values that got us here, the clients and team members that have grown with us, and why MRPR has stood the test of time. 

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Topics: News, Insider, Best Places to Work

Passing The Mic To Our Interns: Inside MRPR

Posted by MRPR on Apr 24, 2024 8:13:00 PM

Internships offer young professionals an opportunity to see what business is like outside of the classroom. Today's interns expect inclusion and real-world exposure to daily activities. They're there to do more than just take meeting notes and fetch coffee --they're there to learn. That's why we designed our internship program to closely mimic an entry-level accountant position with our firm, including exposure to all aspects of accounting and client services.

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Topics: Insider

Important Michigan Treasury Online Payment Changes

Posted by Maureen Strahan on Apr 3, 2024 5:52:40 PM

On April 13, Michigan Treasury Online (MTO), the online service that allows businesses to file and pay business taxes, will transition from their current payment platform PayConnection to Paymentus. 

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Topics: Tax Topics

The Corporate Transparency Act

Posted by Denise Thompson, CPA on Feb 6, 2024 9:15:00 AM

As of January 1, 2024, the Corporate Transparency Act (CTA) is in effect. Enacted as part of the 2021 National Defense Authorization Act, the CTA is the United States Government's latest step to improve business transparency and stymie companies, entities, or people engaging in tax fraud, money laundering, and other types of business fraud.

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Topics: News

1099-K Updates Delayed Again

Posted by Jordan Grant on Dec 19, 2023 4:35:52 PM

Earlier this year, we discussed Form 1099-K and the IRS' plans to delay its updated reporting threshold until the calendar year 2024/tax year 2023.

In November, the IRS releasedNotice 2023-74, which details plans to continue this delay for another year, followed by a phased implementation.

A little confusing? Let's recap from the top.

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Topics: Tax Topics

EFTPS Now Requiring Multifactor Authentication

Posted by Maureen Strahan on Nov 15, 2023 5:32:12 PM

 

Beginning October 19, 2023, the Electronic Federal Tax Payment System (EFTPS) now requires multifactor authentication (MFA) for individuals and businesses to use the system.

MFA is a cybersecurity best practice and adds another layer of security to the EFTPS.

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Topics: Tax Topics

IRS Releases Guidance on Employee Retention Credit

Posted by MRPR on Oct 31, 2023 10:24:00 AM

On September 14th, the IRS announced it would place a moratorium on processing new Employee Retention Credit (ERC) claims that would run through at least December 31st.

The ERC, introduced in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, is a refundable tax credit for businesses and tax-exempt organizations that had employees and were affected during the COVID-19 pandemic.

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Topics: News

MRPR is Named to 2023 Best Places to Work List

Posted by MRPR on Aug 28, 2023 9:11:02 AM

 

For the seventh year in a row, MRPR has been named to Crain's Detroit Business Best Places to Work in Southeast Michigan. Formerly known as Cool Places to Work, the list is created from a research-driven program that examines company practices, programs and benefits and surveys your employees for their perspective.

We're honored to make the list. We also maintain that we are still a pretty cool place. Below is what makes MRPR a cool and (officially) one of the best employers in Southeast Michigan.

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Topics: News, Best Places to Work

How the Build It in America Act May Affect Your Business

Posted by MRPR on Jul 27, 2023 9:10:14 AM

On June 13, the United States House Committee on Ways and Means, the chief tax-writing committee in the House of Representatives, passed the Build It in America Act (H.R. 3938). According to the Ways and Means Committee, this legislation would "counter China's growing global economic influence by restoring American business competitiveness, securing global supply chains, and prohibiting U.S. foreign land sales to companies from countries of concern."

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Topics: Tax Topics, Business Planning & Operations, Accounting Hot Topics, News

The Impact of ChatGPT and A.I. on Accounting

Posted by MRPR on Jun 15, 2023 3:48:30 PM

Unless you've been avoiding the internet for months (smart), you've probably heard about ChatGPT and the rise of artificial intelligence technology. While there is plenty of A.I. technology that has emerged in the past year, ChatGPT has made the biggest splash. It reportedly reached 100 million monthly active users, just two months after its launch according to a study by UBS.

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Topics: Accounting Hot Topics