Canopy, which makes practice management and tax resolution software, plans to introduce a tax preparation package next summer. The Lehi, Utah-based company said its cloud-based application will integrate with its other products to provide a client tax management suite.

The Internal Revenue Service has issued proposed regulations regarding limitations on interest expense. The proposals affect some small businesses whose gross receipts are $25 million or less under provisions of the Tax Cuts and Jobs Act.

The American Institute of CPAs has proposed a method the Internal Revenue Services can use continue to send taxpayer transcripts to tax preparers. The organization’s suggestion follows the IRS' three-part plan for changing  transcript processing, which would halt maiiing transcripts to third parties next year.