Journal Of Accountancy News

Latest News from Journal Of Accountancy

Some say focusing too intently on quarterly reports causes companies to neglect the long-term goals that should be more of an emphasis.
Posted: August 17, 2018, 4:15 pm
The Court of Appeals for the D.C. Circuit held that the AICPA had standing to challenge the IRS’s Annual Filing Season Program for unenrolled tax preparers but further held that the program did not violate the Administrative Procedure Act.
Posted: August 17, 2018, 3:30 pm
Companies that sell products such as life insurance, disability income insurance, long-term-care insurance and annuities will change their accounting under new rules issued by FASB.
Posted: August 15, 2018, 4:50 pm
The effective date of the new “Hosting Services” interpretation in the AICPA’s “Independence Rule” has been extended 10 months by the AICPA Professional Ethics Executive Committee.
Posted: August 14, 2018, 9:00 pm
Amendments proposed by FASB are intended to make implementation of the new lease accounting standard easier and less costly for lessors.
Posted: August 13, 2018, 10:30 pm
The AICPA’s Financial Reporting Executive Committee (FinREC) has issued working drafts of accounting issues related to implementation of FASB’s new standard for accounting for credit losses.
Posted: August 9, 2018, 3:15 pm
Many Americans see a volatile stock market as a way to make a quick profit through short-term buying and selling, according to a new poll.
Posted: August 9, 2018, 11:00 am
The IRS issued guidance on the new Sec. 199A deduction for qualified business income in the form of proposed regulations and a separate notice on how to calculate W-2 wages for those purposes.
Posted: August 8, 2018, 9:16 pm
The IRS finalized proposed regulations under Sec. 6223 on the procedures for designating a partnership representative and the authority of the partnership representative under the centralized partnership audit regime.
Posted: August 7, 2018, 9:58 pm
The order announcing the withdrawal says it is being done “to allow time for the reconstituted panel to confer on this appeal.”
Posted: August 7, 2018, 9:00 pm
The IRS issued proposed regulations providing guidance on Sec. 168(k), which was amended by P.L. 115-97, known as the Tax Cuts and Jobs Act, to increase the allowable first-year depreciation deduction for qualified property from 50% to 100%.
Posted: August 7, 2018, 12:30 am
Under new rules proposed by GASB, state and local governments would use a single method to report conduit debt obligations and related obligations.
Posted: August 6, 2018, 5:00 pm
The IRS issued proposed regulations on the Sec. 965 transition tax that requires U.S. shareholders of deferred foreign income corporations to pay tax on post-1986 deferred income.
Posted: August 1, 2018, 8:30 pm
How well do you know the basics of employee benefit plan auditing? Take this quiz and find out.
Posted: August 1, 2018, 12:00 pm
Online-only: Contact information, basic packages and their features are shown below for the top seven products in the survey.
Posted: August 1, 2018, 9:00 am

The Tax Adviser News

Latest News from The Tax Adviser

The Court of Appeals for the D.C. Circuit held that the AICPA had standing to challenge the IRS’s Annual Filing Season Program for unenrolled tax preparers but further held that the program did not violate the Administrative Procedure Act.
Posted: August 17, 2018, 3:45 pm
The IRS issued guidance on the new Sec. 199A deduction for qualified business income in the form of proposed regulations and a separate notice on how to calculate W-2 wages for those purposes.
Posted: August 8, 2018, 9:30 pm
The IRS finalized proposed regulations under Sec. 6223 on the procedures for designating a partnership representative and the authority of the partnership representative under the centralized partnership audit regime.
Posted: August 7, 2018, 10:15 pm
The order announcing the withdrawal says it is being done “to allow time for the reconstituted panel to confer on this appeal.”
Posted: August 7, 2018, 9:15 pm
The IRS issued proposed regulations providing guidance on the new tax law’s amendments to Sec. 168(k), which increased bonus depreciation for qualifying property from 50% to 100%, generally effective for property acquired and placed in service after Sept. 27, 2017.
Posted: August 7, 2018, 12:45 am
The IRS issued proposed regulations on the Sec. 965 transition tax that requires U.S. shareholders of deferred foreign income corporations to pay tax on post-1986 deferred income.
Posted: August 1, 2018, 8:45 pm
Final regulations address how taxpayers can comply with the requirements for adequate substantiation of charitable contributions of money or property.
Posted: July 30, 2018, 6:15 pm
The Ninth Circuit reversed a Tax Court decision invalidating a cost-sharing regulation that requires allocation of stock-based compensation costs between related parties.
Posted: July 25, 2018, 11:30 pm
Four states have sued in U.S. district court, asking to invalidate the $10,000 limit on the deduction for state and local taxes enacted as part of last year’s tax overhaul.
Posted: July 17, 2018, 7:18 pm
News IRS procedures eliminate the requirement for many exempt organizations to list certain substantial donors’ names and addresses on some forms.
Posted: July 17, 2018, 7:07 pm
The AICPA’s Tax Executive Committee sent a letter to the IRS, urging the Service to simplify the proposed draft 2019 Form W-4, Employee’s Withholding Allowance Certificate.
Posted: July 12, 2018, 7:20 pm
The IRS warned that it is increasingly difficult for it to recognize fraudulent tax returns as cybercriminals succeed in getting more and more accurate information.
Posted: July 10, 2018, 8:03 pm
The IRS is working on a draft version of the 2018 Form 1040, U.S. Individual Income Tax Return, that reduces the size of the form to two half-pages in length and eliminates more than 50 lines.
Posted: June 27, 2018, 7:45 pm
The U.S. Supreme Court held that states can assert nexus for sales and use tax purposes without requiring a seller’s physical presence in the state.
Posted: June 21, 2018, 9:15 pm
The IRS announced that it was withdrawing temporary regulations on the treatment of partnership liabilities for disguised-sale purposes and proposing to reinstate the old rules.
Posted: June 18, 2018, 7:03 pm