Journal Of Accountancy News

Latest News from Journal Of Accountancy

This filing season will be the first time the IRS has enforced this requirement and will not accept tax returns that omit this information.
Posted: October 16, 2017, 4:00 pm
The Social Security Administration said that the maximum amount of wages subject to the 6.2% Social Security tax in 2018 will rise a little more than 1%, after a much larger increase last year.
Posted: October 13, 2017, 6:46 pm
Refresh your knowledge of common homophones by choosing the right word for these seven sentences.
Posted: October 12, 2017, 12:00 pm
To ease the regulatory burden on partnerships, the IRS announced that it is eliminating the requirement that partnership elections under Sec. 754 be signed by a partner.
Posted: October 11, 2017, 8:00 pm
The SEC proposed amendments that are designed to simplify disclosures without sacrificing information that is important to investors.
Posted: October 11, 2017, 7:25 pm
An alert published by the Center for Audit Quality discusses some of the more judgmental or complex areas that may be relevant during the 2017 auditing cycle.
Posted: October 11, 2017, 1:00 pm
A new PCAOB alert can help auditors apply the board’s guidance to their clients’ implementation of the new accounting standard.
Posted: October 6, 2017, 6:45 pm
Treasury said it intended to withdraw the Sec. 2704 valuation discount regulations and portions of the Sec. 385 corporate inversion regulations.
Posted: October 4, 2017, 9:45 pm
Nine potential amendments are contained in the proposal, which would affect a wide variety of topics in the codification.
Posted: October 3, 2017, 7:35 pm
Federal agencies received new guidance for applying alternative methods in establishing opening balances for general property, plant and equipment.
Posted: October 2, 2017, 8:45 pm
The AICPA Financial Reporting Executive Committee issued 20 working drafts on issues related to implementation of the new revenue recognition standard.
Posted: October 2, 2017, 5:30 pm
Financial statements show some of the changes resulting from the new revenue recognition standard in various industries.
Posted: September 28, 2017, 8:43 pm
See how much you know about recent news with this short quiz.
Posted: September 28, 2017, 12:00 pm
FASB proposed clarifications to separate standards issued in 2016 on accounting for financial instruments and lease accounting.
Posted: September 27, 2017, 10:30 pm
Taking responsibility for hosting an attest client’s data or records impairs a CPA’s independence, according to a new ethics interpretation.
Posted: September 27, 2017, 8:00 pm

The Tax Adviser News

Latest News from The Tax Adviser

The SSA said that the maximum amount of wages subject to the 6.2% Social Security tax in 2018 will rise a little more than 1%, after a much larger increase last year.
Posted: October 13, 2017, 7:00 pm
To ease the regulatory burden on partnerships, the IRS announced that it is eliminating the requirement that partnership elections under Sec. 754 be signed by a partner.
Posted: October 11, 2017, 8:05 pm
Treasury said it intended to withdraw the Sec. 2704 valuation discount regulations and portions of the Sec. 385 corporate inversion regulations.
Posted: October 4, 2017, 9:55 pm
Republican leadership released a tax reform framework that calls for fewer individual tax brackets, a lower corporate tax rate, and elimination of many tax deductions.
Posted: September 27, 2017, 6:00 pm
The IRS issued its annual updates of per-diem rates for use in substantiating expenses when traveling away from home on or after Oct. 1.
Posted: September 26, 2017, 5:00 pm
The IRS is introducing an 18-month pilot program under which it will once again issue letter rulings concerning the general income tax effects of stock distributions under Sec. 355.
Posted: September 22, 2017, 3:15 pm
Acting quickly in the wake of Hurricane Irma, the IRS gave filing and payment extensions to hurricane victims in 16 counties in Florida, all of St. John and St. Thomas in the U.S. Virgin Islands, and four municipalities in Puerto Rico.
Posted: September 19, 2017, 9:00 pm
In an effort to reduce identity theft, the IRS issued proposed regulations that would permit employers to use truncated taxpayer identification numbers (TTINs) on Forms W-2, Wage and Tax Statement.
Posted: September 19, 2017, 6:15 pm
Various e-Services will be unavailable between Sept. 7 and Sept. 12, the IRS announced, as it moves to a new platform.
Posted: August 31, 2017, 8:30 pm
The relief includes an extension of time to file certain individual and business tax returns and make certain tax payments.
Posted: August 29, 2017, 4:00 pm
Due to “extremely low” demand and high costs, the Treasury Department announced that it is ending the myRA retirement savings program.
Posted: July 31, 2017, 6:30 pm
The IRS issued final regulations that govern the relief available for victims of domestic abuse or abandonment from the requirement that married taxpayers must file joint income tax returns to qualify for the Sec. 36B premium tax credit.
Posted: July 25, 2017, 8:00 pm
If granted, the stay would allow the IRS to charge the fees while it decides whether to appeal the district court decision that struck down the fees and, if it does appeal, during the appeal itself.
Posted: July 25, 2017, 6:20 pm
The IRS Office of Appeals announced that on Aug. 1 it will begin offering taxpayers and their representatives a new web-based virtual conference option for taxpayer conferences.
Posted: July 24, 2017, 9:35 pm
Changes to the due dates and extensions of time to file various tax returns and information returns were implemented in a package of regulations the IRS issued on Wednesday.
Posted: July 19, 2017, 10:30 pm