Journal Of Accountancy News

Latest News from Journal Of Accountancy

The U.S. Supreme Court issued a unanimous decision holding that North Carolina’s attempt to tax a trust based solely on the residence of a beneficiary violates the Due Process Clause of the 14th Amendment.
Posted: June 21, 2019, 8:00 pm
The SEC adopted amendments designed to help identify when an auditor’s lending relationship with an audit client is a threat to the auditor’s objectivity and impartiality.
Posted: June 20, 2019, 7:41 pm
The ASB issued a proposal that would update its audit evidence standard to address issues such as emerging technologies and the application of professional skepticism.
Posted: June 20, 2019, 6:30 pm
This quiz gives you practice in identifying errors in standard grammar and usage with screenshots of material posted online. In the answers, we’ve used terms that you might not have heard beyond English grammar and composition classes.
Posted: June 20, 2019, 12:00 pm
The AICPA Virtual Currency Task Force reached out to Treasury’s Financial Crimes Enforcement Network (FinCEN) to help practitioners answer the question of whether virtual currency (or cryptocurrency) must be reported on FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
Posted: June 19, 2019, 6:30 pm
A proposal issued by the AICPA Accounting and Review Services Committee would promote convergence with international standards for review services.
Posted: June 19, 2019, 3:45 pm
The IRS issued methods for calculating W-2 wages for the Sec. 199A(g) deduction for agricultural and horticultural cooperatives, similar to the former Sec. 199 domestic production activities deduction.
Posted: June 18, 2019, 8:45 pm
GASB issued a new implementation guide that includes questions and answers related to recently released GASB standards on accounting and financial reporting for fiduciary activities.
Posted: June 18, 2019, 4:15 pm
The IRS issued final regulations on health reimbursement arrangements, which may be offered to individuals as individual coverage HRAs and integrated into health insurance plans.
Posted: June 17, 2019, 6:30 pm
The IRS issued final regulations on the Sec. 951A global low-taxed income inclusion and foreign tax credits, finalizing proposed rules issued in October and December 2018.
Posted: June 17, 2019, 6:00 pm
The bill establishes an independent appeals office and requires the IRS to develop a customer service strategy. A controversial provision codifying the Free File program was dropped from the bill.
Posted: June 14, 2019, 4:05 pm
The guidance is designed to improve accounting and financial reporting for public-private and public-public partnership arrangements. Comments on the proposal were requested by Sept. 13.
Posted: June 13, 2019, 9:40 pm
Listening and asking the right questions are two keys to coaching employees, said ENGAGE speaker Melisa Galasso, CPA, CGMA, founder of Galasso Learning Solutions in Charlotte, N.C.
Posted: June 13, 2019, 9:30 pm
Artificial intelligence and robots get a lot of attention, but automation and cloud computing-enabled outsourcing are the technology-related terms that should be top of mind for tax practices, according to a session at AICPA ENGAGE 2019 in Las Vegas.
Posted: June 12, 2019, 9:00 pm
Here are details on the new rules that deny a federal tax deduction to taxpayers who donate to a state charitable fund and receive a state or local tax credit in return.
Posted: June 12, 2019, 5:00 pm

The Tax Adviser News

Latest News from The Tax Adviser

The U.S. Supreme Court issued a unanimous decision holding that North Carolina’s attempt to tax a trust based solely on the residence of a beneficiary violates the Due Process Clause of the 14th Amendment.
Posted: June 21, 2019, 8:05 pm
The AICPA Virtual Currency Task Force reached out to Treasury’s Financial Crimes Enforcement Network (FinCEN) to help practitioners answer the question of whether virtual currency (or cryptocurrency) must be reported on FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
Posted: June 19, 2019, 6:30 pm
The IRS issued methods for calculating W-2 wages for the Sec. 199A(g) deduction for agricultural and horticultural cooperatives, similar to the former Sec. 199 domestic production activities deduction.
Posted: June 18, 2019, 9:00 pm
The IRS issued final regulations on health reimbursement arrangements, which may be offered to individuals as individual coverage HRAs and integrated into health insurance plans.
Posted: June 17, 2019, 6:45 pm
The IRS issued final regulations on the Sec. 951A global low-taxed income inclusion and foreign tax credits, finalizing proposed rules issued in October and December 2018.
Posted: June 17, 2019, 6:15 pm
The bill establishes an independent appeals office and requires the IRS to develop a customer service strategy. A controversial provision codifying the Free File program was dropped from the bill.
Posted: June 14, 2019, 4:42 pm
Here are details on the new rules that deny a federal tax deduction to taxpayers who donate to a state charitable fund and receive a state or local tax credit in return.
Posted: June 12, 2019, 5:10 pm
The Ninth Circuit Court of Appeals reversed a Tax Court decision that had held that a cost-sharing regulation that required allocation of stock-based compensation was invalid.
Posted: June 10, 2019, 9:45 pm
To fight identity theft, starting June 28 the IRS will no longer fax transcripts to taxpayers, tax professionals, and other third parties. And in July it will stop providing an option for mailing transcripts to third parties.
Posted: June 4, 2019, 11:00 pm
The new draft form, which has been extensively redesigned, is intended to simplify the calculation of income tax withholding after the changes made by the law known as the Tax Cuts and Jobs Act.
Posted: May 31, 2019, 8:00 pm
The IRS issued its annual notice of the inflation-adjusted limits on contributions to health savings accounts. All of the limits increased from 2019 to 2020.
Posted: May 28, 2019, 3:15 pm
Certified professional employer organizations (CPEOs) enter into contracts with employers to be treated as the employer for employment tax purposes and are subject to IRS rules in order to qualify as CPEOs and maintain that status.
Posted: May 24, 2019, 4:15 pm
The IRS provided the limitations on depreciation deductions for passenger automobiles first placed in service in 2019 and the amounts of income inclusion for lessees of passenger automobiles first leased during 2019.
Posted: May 21, 2019, 8:35 pm
The IRS notified tax software companies that it had discovered an error in the Schedule D, Capital Gains and Losses, Tax Worksheet used to calculate the tax on certain capital gains that had new rates as a result of the law known as the Tax Cuts and Jobs Act.
Posted: May 17, 2019, 6:15 pm
The IRS announced that taxpayers affected by the recent Wolters Kluwer service outage who are facing May 15 filing deadlines can follow certain procedures to obtain reasonable cause waivers for failing to file on time.
Posted: May 14, 2019, 10:00 pm