Journal Of Accountancy News

Latest News from Journal Of Accountancy

The IRS announced that it intends to issue regulations explaining that legislation attempting to recharacterize state and local taxes as charitable contributions will be subject to interpretation under federal tax law.
Posted: May 23, 2018, 8:00 pm
The AICPA Accounting and Review Services Committee issued Statement on Standards for Accounting and Review Services No. 24, which revises reporting requirements for compilations and reviews.
Posted: May 23, 2018, 3:15 pm
To be prepared for the future, accountants need to develop technical competencies, people skills and an agile mindset, the AICPA’s Clar Rosso said during the spring meeting of the AICPA governing Council.
Posted: May 21, 2018, 11:30 pm
Technological advancements have made it necessary for professionals and leaders to develop new skills to help their organizations thrive.
Posted: May 21, 2018, 9:55 pm
New implementation guidance issued by the GASB is designed to clarify, explain or elaborate on state and local government accounting standards.
Posted: May 21, 2018, 4:45 pm
The U.S. is headed for turbulence economically and politically over the next few years, geopolitical analyst Jacob Shapiro said during an AICPA spring governing Council session.
Posted: May 21, 2018, 12:30 am
The technology can help empower existing professionals, not necessarily remove them, particularly in specialist fields.
Posted: May 17, 2018, 7:15 pm
The IRS issued new procedures for contributions to charitable organizations, including rules for when donors can rely on the information about an organization’s tax-exempt status on the IRS database Tax Exempt Organization Search.
Posted: May 17, 2018, 5:55 pm
Test your knowledge of recent news with this short quiz.
Posted: May 17, 2018, 10:00 am
The IRS should provide a simplified adjustment procedure for partnership audits, the AICPA recommended in a letter to the IRS Chief Counsel’s Office.
Posted: May 16, 2018, 4:15 pm
A new FASAB proposal is designed to promote consistency in the accounting treatment and reporting for land holdings while considering the information needs of financial statement users.
Posted: May 15, 2018, 9:15 pm
The working draft of an Accounting and Valuation Guide issued by the AICPA provides guidance on the accounting for and valuation of portfolio company investments of venture capital and private-equity funds and other investment companies.
Posted: May 15, 2018, 2:00 pm
Just 35% of Americans said they had delayed a major life event for financial reasons, compared with 51% in 2015, according to an AICPA survey.
Posted: May 15, 2018, 11:00 am
The IRS issued the inflation-adjusted contribution limits for 2019 for health savings accounts.
Posted: May 10, 2018, 8:52 pm
The IRS issued updated procedures for automatic accounting method changes. The new rules generally apply to changes on or after May 9, 2018.
Posted: May 10, 2018, 4:20 pm

The Tax Adviser News

Latest News from The Tax Adviser

The IRS announced that it intends to issue regulations explaining that legislation attempting to recharacterize state and local taxes as charitable contributions will be subject to interpretation under federal tax law.
Posted: May 23, 2018, 10:10 pm
The IRS issued new procedures for contributions to charitable organizations, including rules for when donors can rely on the information about an organization’s tax-exempt status on the IRS database Tax Exempt Organization Search.
Posted: May 17, 2018, 6:00 pm
The IRS should provide a simplified adjustment procedure for partnership audits, the AICPA recommended in a letter to the IRS Chief Counsel’s Office.
Posted: May 16, 2018, 4:20 pm
The IRS issued the inflation-adjusted contribution limits for 2019 for health savings accounts.
Posted: May 10, 2018, 9:00 pm
The IRS issued updated procedures for automatic accounting method changes. The new rules generally apply to changes on or after May 9, 2018.
Posted: May 10, 2018, 4:25 pm
The IRS urged small businesses to be wary of a growing amount of identity theft attempts aimed at employers and small businesses in general, and partnerships and trusts and estates.
Posted: May 3, 2018, 9:00 pm
The IRS announced it will allow taxpayers to treat $6,900 as the 2018 limit for deductible contributions to HSAs for individuals with family coverage.
Posted: April 26, 2018, 10:15 pm
The Supreme Court heard oral arguments in a case with broad remote sales tax collection ramifications.
Posted: April 18, 2018, 6:30 pm
After the IRS’s Modernized e-File and Direct Pay systems were not in operation for most of the day on Tuesday, the IRS extended the filing and payment deadline for 2017 individual tax returns until midnight on Wednesday, April 18.
Posted: April 18, 2018, 12:30 am
The Treasury Department and the White House’s Office of Management and Budget have agreed to change the procedures under which Treasury regulations are reviewed.
Posted: April 12, 2018, 6:30 pm
The IRS has issued initial guidance on the new rules governing the deductibility of business interest in Sec. 163(j), as amended by the Tax Cuts and Jobs Act of 2017.
Posted: April 3, 2018, 7:40 pm
The $1.3 trillion spending bill passed by Congress includes IRS funding and tax-related technical corrections, including changes to the centralized partnership audit regime.
Posted: March 23, 2018, 6:00 pm
A new technical question and answer from the AICPA provides nonauthoritative guidance to help financial statement preparers account for the amount a partnership pays the IRS under these circumstances.
Posted: March 22, 2018, 1:15 pm
The U.S. Supreme Court held that to obtain a conviction for obstructing or impeding the administration of the Internal Revenue Code, the government was required to prove that the defendant knew of a pending tax-related proceeding or could reasonably foresee the commencement of such a proceeding.
Posted: March 21, 2018, 10:10 pm
The IRS completed its annual list of the top tax scams for this filing season, with brazen phishing and phone scams still prominent on the list.
Posted: March 20, 2018, 10:00 pm