Journal Of Accountancy News

Latest News from Journal Of Accountancy

Take this quiz to find out what kind of guidance auditors can provide without compromising their independence.
Posted: February 13, 2020, 11:00 am
Accounting for employee share-based compensation could become less complex for private companies after FASB endorsed the decision by the Private Company Council to propose a practical expedient for nonpublic entities.
Posted: February 12, 2020, 8:47 pm
The IRS proposed new regulations for withholding on individuals’ wages to reflect the statutory changes in the law known as the Tax Cuts and Jobs Act, including the elimination of the personal exemption.
Posted: February 12, 2020, 6:29 pm
The AICPA's Accounting and Review Services Committee issued a new Statement on Standards for Accounting and Review Services (SSARS) that further converges the standards for reviews of financial statements in AICPA Professional Standards with international standards for such engagements.
Posted: February 11, 2020, 1:17 pm
The Proposed ASU would require not-for-profits to present contributed nonfinancial assets as a separate line item in the statement of activities.
Posted: February 10, 2020, 7:53 pm
Credentials for U.S. CPAs and South African chartered accountants have a path to be recognized in their respective countries under a new cross-border mutual recognition agreement.
Posted: February 7, 2020, 3:10 pm
Legislative challenges to professional licensing standards are a threat to CPAs and other professionals. But a new survey indicates strong public support for licensing standards.
Posted: February 5, 2020, 9:14 pm
Issues for state and local governments related to lease accounting, other post-employment benefits (OPEB), and other topics were addressed in an omnibus standard issued by GASB.
Posted: February 5, 2020, 7:30 pm
The IRS finalized the rules for maximum vehicle values under the cents-per-mile valuation rule and the fleet-average valuation rule after the law known as the Tax Cuts and Jobs Act increased those values to $50,000, adjusted for inflation.
Posted: February 4, 2020, 7:52 pm
The IRS announced that Form 1023, Application for Recognition of Exemption Under Section 501(c)(3), must now be submitted electronically.
Posted: January 31, 2020, 9:23 pm
The SEC voted to propose amendments that would simplify disclosure requirements and issued guidance on key performance indicators and metrics in MD&A.
Posted: January 31, 2020, 4:33 pm
Board members can help retain volunteers by making sure they are onboarded effectively, recognized and given a chance to advance.
Posted: January 30, 2020, 9:13 pm
The AICPA Auditing Standards Board has issued guidance for practitioners performing verification or performance examination engagements pursuant to the Global Investment Performance Standards.
Posted: January 28, 2020, 2:04 pm
Audit quality is improved when firm leaders personally model the exemplary behaviors that they say they value, according to a new study backed by the AICPA Assurance Research Advisory Group.
Posted: January 24, 2020, 6:35 pm
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Posted: January 23, 2020, 1:00 pm

The Tax Adviser News

Latest News from The Tax Adviser

The IRS proposed new regulations for withholding on individuals’ wages to reflect the statutory changes in the law known as the Tax Cuts and Jobs Act, including the elimination of the personal exemption.
Posted: February 12, 2020, 6:42 pm
The IRS finalized the rules for maximum vehicle values under the cents-per-mile valuation rule and the fleet-average valuation rule after the law known as the Tax Cuts and Jobs Act increased those values to $50,000, adjusted for inflation.
Posted: February 4, 2020, 7:56 pm
The IRS announced that Form 1023, Application for Recognition of Exemption Under Section 501(c)(3), must now be submitted electronically.
Posted: January 31, 2020, 9:27 pm
The IRS is expanding its relief from cancellation-of-debt income to students whose federal loans were discharged for certain legal reasons.
Posted: January 16, 2020, 6:27 pm
On the last day of 2019, the IRS issued the standard mileage rates for 2020 for business, charitable, medical, or moving expense purposes, as well as other deduction amounts.
Posted: January 2, 2020, 5:43 pm
The IRS issued final regulations providing guidance on tax-favored investments in qualified opportunity zones (QOZs).
Posted: December 20, 2019, 7:29 pm
The consolidated appropriations bill passed by Congress makes many changes to retirement plan rules, repeals health care taxes, extends expired tax provisions, and provides tax relief for disaster victims.
Posted: December 19, 2019, 9:50 pm
The Fifth Circuit held that the “individual mandate” under Sec. 5000A, which imposes a “shared responsibility payment” on taxpayers who do not obtain health insurance that provides at least minimum essential coverage, is unconstitutional now that the payment amount has been reduced to zero.
Posted: December 19, 2019, 8:50 pm
FASB issued a standard that is designed to reduce cost and complexity in accounting for income taxes.
Posted: December 18, 2019, 10:37 pm
The IRS issued proposed regulations on the Sec. 162(m) $1 million limit on executive compensation paid by certain publicly held corporations.
Posted: December 17, 2019, 9:28 pm
The IRS officially released final regulations providing guidance on determining foreign tax credits. The regulations include changes necessitated by the law known as the Tax Cuts and Jobs Act.
Posted: December 17, 2019, 5:10 pm
The IRS issued additional rules on the treatment of deductions for charitable contributions in lieu of state and local taxes, an area in which it has already issued final regulations and other guidance.
Posted: December 16, 2019, 6:15 pm
The IRS is postponing the requirement to report partners’ shares of partnership capital on the tax-basis method for 2019 (for partnership tax years beginning in calendar 2019) until 2020 (for partnership tax years that begin on or after Jan. 1, 2020).
Posted: December 10, 2019, 5:44 pm
The IRS issued detailed guidance on the Sec. 59A base-erosion and anti-abuse tax (BEAT), which was added to the Code by the law known as the Tax Cuts and Jobs Act.
Posted: December 3, 2019, 7:33 pm
As it does every year, the IRS extended the due date to furnish certain health care information statements to individual taxpayers to March 2, 2020.
Posted: December 2, 2019, 8:48 pm