Journal Of Accountancy News

Latest News from Journal Of Accountancy

The IRS clarified the standards that an LLC must satisfy to obtain a determination letter that it is exempt from taxation under Sec. 501(c)(3).
Posted: October 22, 2021, 3:23 pm
Manufacturing leaders can use artificial intelligence to improve efficiency and drive growth. But taking full advantage of the technology requires upskilling the workforce.
Posted: October 22, 2021, 1:52 pm
A severely polarized political climate doesn’t have to stop CPAs from achieving their ambitions. Instead, a little empathy can go a long way, according to AICPA governing Council guest speaker Amy Walter, publisher and editor-in-chief of The Cook Political Report.
Posted: October 20, 2021, 9:02 pm
An unsustainable long-term fiscal path and cybersecurity concerns heightened by aging systems are among the biggest challenges the federal government faces, US Comptroller General Gene Dodaro said Tuesday at the fall AICPA governing Council meeting.
Posted: October 20, 2021, 5:00 pm
The IRS announced it is expanding the availability of videoconference meetings for large business taxpayers for examinations and appeals.
Posted: October 19, 2021, 12:29 pm
Some improvement in audit performance was identified during 2020 PCAOB inspections compared with the previous year, according to a board staff report.
Posted: October 18, 2021, 9:00 pm
Two leading figures in the field of data visualization explain how CPAs can best use visual depictions of numbers and how history’s “heroes of visual thinking” transformed numbers into images that carry ideas and meaning.
Posted: October 18, 2021, 1:30 pm
Recent conference speaker John Hall, CPA, discusses tangible steps to build a “defensive wall” against fraud and ethics breaches.
Posted: October 18, 2021, 1:00 pm
Accounting firms see many opportunities in the marketplace but with an already stretched workforce, they are struggling to find the capacity to take on new challenges.
Posted: October 18, 2021, 9:00 am
Taxpayers who reasonably rely on FAQs posted by the Internal Revenue Service will have a reasonable-cause penalty defense under a new policy announced by the agency on Friday. The IRS will also keep original versions of FAQs on its site after it updates them.
Posted: October 15, 2021, 8:44 pm
Long-term care is a critical topic when discussing retirement plans with aging clients.
Posted: October 14, 2021, 9:00 am
Amid continuing pandemic-related challenges, auditors have opportunities to maintain and improve the quality they deliver to clients and the public.
Posted: October 13, 2021, 9:14 pm
The Social Security Administration announced the maximum amount of wages subject to Social Security tax in 2022 and a cost-of-living adjustment for Social Security benefits.
Posted: October 13, 2021, 8:15 pm
Client advisory services practices saw a 20% growth rate in terms of net client fees per professional, according to the latest CPA.com & AICPA PCPS Client Advisory Services Benchmark Survey.
Posted: October 13, 2021, 8:00 pm
The AICPA Auditing Standards Board issued a new standard designed to help auditors determine the areas that pose the greatest risks of material misstatement in an audit engagement and spend more of their time performing procedures in those areas.
Posted: October 12, 2021, 1:52 pm

The Tax Adviser News

Latest News from The Tax Adviser

The IRS clarified the standards that an LLC must satisfy to obtain a determination letter that it is exempt from taxation under Sec. 501(c)(3).
Posted: October 22, 2021, 3:29 pm
The IRS announced it is expanding the availability of videoconference meetings for large business taxpayers for examinations and appeals.
Posted: October 19, 2021, 12:36 pm
Taxpayers who reasonably rely on FAQs posted by the Internal Revenue Service will have a reasonable-cause penalty defense under a new policy announced by the agency on Friday. The IRS will also keep original versions of FAQs on its site after it updates them.
Posted: October 15, 2021, 8:42 pm
The Social Security Administration announced the maximum amount of wages subject to Social Security tax in 2022 and a cost-of-living adjustment for Social Security benefits.
Posted: October 13, 2021, 8:24 pm
The letters, which the IRS provides as a courtesy to executors and other authorized estate representatives, will now cost $67.
Posted: September 27, 2021, 6:12 pm
Final regulations clarify the treatment of qualified improvement property in FDII and GILTI, and foreign tax credit transition rules address post-2017 NOL carrybacks to pre-2018 tax years.
Posted: September 22, 2021, 7:11 pm
The IRS reports that its Transcript Delivery System is down for business taxpayers who reported information related to COVID-19 employment tax relief on Form 941, Employer’s Quarterly Federal Tax Return.
Posted: September 14, 2021, 8:58 pm
The proposal would raise tax rates for corporations and individuals and make many other changes to the Internal Revenue Code.
Posted: September 13, 2021, 9:04 pm
Information reporting on Form W-2 or a separate statement allows self-employed taxpayers to claim qualified sick leave and qualified family leave equivalent credits.
Posted: September 8, 2021, 2:29 pm
The allowances for determining deductions for lodging, meals, and incidental costs are slightly higher than before.
Posted: September 3, 2021, 8:20 pm
The AICPA recommended in a letter to Senate tax-writing leaders eight ways to improve the deduction for qualified business income under Sec. 199A.
Posted: August 26, 2021, 9:12 pm
Global supply chain problems caused by the COVID-19 pandemic have made it difficult for US companies to replace inventories, potentially subjecting them to additional taxable income. The AICPA has requested relief under Sec. 473.
Posted: August 23, 2021, 6:35 pm
The IRS updated the list of accounting method changes to which automatic change procedures apply.
Posted: August 12, 2021, 10:00 pm
Certain employers have until Nov. 8 to submit a required worker certification request to a designated local agency for purposes of the work opportunity credit.
Posted: August 11, 2021, 6:52 pm
Under the safe harbor, an employer can exclude certain amounts received from other coronavirus economic relief programs in determining whether it qualifies for the employee retention credit based on a decline in gross receipts.
Posted: August 11, 2021, 4:37 pm