Content Hub

Product Update May 2020

We’ve been hard at work creating feature enhancements designed to improve your firm’s efficiency. Let’s take a look at some recently released features.

A Crash Course in State-Specific Offers in Compromise

When there is a tax debt owed, tax professionals can assist their clients in working out an Offer in Compromise (OIC). This is where the taxpayer and tax collector come to a legal...

Tips for Working from Home Effectively as an Accountant

Working from home can be a bumpy transition when you’re used to collaborating with team members and clients in the office every day. However, by following some best practices, you...

Canopy's New UI

Over the last five months, we’ve been working hard to bring you an improved experience, and we are thrilled to announce an updated Canopy user interface is here! In approaching...

3 Outdated Areas of Your Accounting Firm (And How to Modernize Them)

The thought of modernizing your accounting firm can be overwhelming. After all, there are a lot of steps involved. There’s implementing cloud-based accounting software, going...

Canopy Welcomes New Vice President of Finance

April 27, 2020 LEHI, Utah--(BUSINESS WIRE)--Canopy, the leading cloud-based practice management platform for accounting professionals, announced Alison Fuller has joined the...

6 Outdated Areas of Your Tax Practice

What You Need to Know About Individual Taxpayer and Small Business...

The Coronavirus Aid, Relief and Economic Security (CARES) Act recently signed into law is the largest emergency aid package in US history and will provide $2 trillion to...

5 Ways Businesses Can Maximize Cash Flow Under the CARES Act

Amend your prior tax returns for expanded net operating loss provisions The CARES Act allows for a five-year carryback of net operating losses arising in 2018, 2019, and 2020. It...

Video: Tips for Filling Out IRS Form 656, Offer in Compromise

IRS Form 656 can be one of the more intimidating IRS forms out there, but it doesn't have to be. Check out our tips for filling out Form 656 out right the first time and get your...

What is an Offer in Compromise, and is it right for your client?

Forty-one percent. That’s the percent of offers in compromise the IRS accepted in 2018. As a former Senior Revenue Officer I can tell you that those acceptances weren’t based on...

What You Need To Know About Common Tax Penalties

Penalties are undesirable consequences of failing to do something right or timely. Whether they are associated with a sporting event, school grades, or when paying taxes,...

Why Millennials Are a Tax Resolution Gold Mine

Traditionally, younger generations are not the target market for most tax firms. Because their tax situations are generally not as complex, taxpayers under the age of 35 are...

Give Client Service That Shines: 5 Best Practices

Tax professionals know that good customer service is essential to their firm’s success. However, it can be surprisingly difficult to define what actions and responses create good...

Tax Season Product Update

The first month of 2020 has come and gone, and you and your firm are likely already on high alert for the imminent tax season. And with our new suite of updates this month, Canopy...