Journal Of Accountancy News
Latest News from Journal Of Accountancy
The IRS said the voluntary phone survey will take about 20 minutes and will cover topics including e-filing, due diligence requirements, data security, and electronic document submission.
Posted: November 27, 2023, 8:09 pm
The final Accounting Standards Update, required for annual periods beginning after Dec. 15, 2023, is designed to “improve financial reporting by providing additional information about a public company’s significant segment expenses” in a timely manner.
Posted: November 27, 2023, 8:03 pm
Intangible assets and climate-related reporting are among action items that the board, which is responsible for setting standards for federal government entities, will address in the coming years.
Posted: November 22, 2023, 1:51 pm
The IRS said Tuesday that it will once again delay of the application of the Form 1099-K $600 reporting threshold. And, for 2024, it is setting the threshold at $5,000.
Posted: November 21, 2023, 10:22 pm
The IRS on Friday issued proposed regulations providing guidance on the new rule that disallows charitable contribution deductions for certain conservation easement contributions by partnerships and other passthrough entities.
Posted: November 17, 2023, 9:33 pm
AICPA members should be aware that the AICPA has adopted revised Statements on Standards for Tax Services (SSTSs). The new standards are effective Jan. 1, 2024.
Posted: November 16, 2023, 10:31 pm
The proposed regulations on digital asset reporting stretch the meaning of broker ‘beyond the breaking point,’ IRS and Treasury officials are told at public hearing.
Posted: November 15, 2023, 9:31 pm
A CPA argues that accountants can use AI technologies such as ChatGPT to tackle the profession’s most pressing challenges.
Posted: November 15, 2023, 5:38 pm
While the Inflation Reduction Act provides a 10-year window for spending billions of dollars, the IRS is under pressure to prove that it can change and improve, commissioner Danny Werfel says at AICPA tax conference.
Posted: November 14, 2023, 9:42 pm
Women currently in the workforce are well behind male counterparts when it comes to saving for retirement, a survey finds.
Posted: November 13, 2023, 9:36 pm
The adjustments cover over 60 tax provisions and generally apply to tax returns that will be filed in 2025.
Posted: November 9, 2023, 11:28 pm
Half of finance executives report they’ve already implemented GenAI into financial reporting; the majority view auditors as crucial to the cause.
Posted: November 8, 2023, 10:00 pm
Treasury’s Financial Crimes Enforcement Network (FinCEN) made changes to its beneficial ownership information reporting rule in response to comments to a proposed rule.
Posted: November 8, 2023, 9:45 pm
About two-thirds of US large-company CEOs believe 2024 will bring better financial fortunes for their organizations, according to a survey.
Posted: November 6, 2023, 9:34 pm
The IRS announced the inflation adjusted limits on benefits and contributions for various retirement accounts on Wednesday, including the maximum contribution amounts for 401(k) plans and IRAs.
Posted: November 2, 2023, 12:27 pm
The Tax Adviser News
Latest News from The Tax Adviser
The IRS said the voluntary phone survey will take about 20 minutes and will cover topics including e-filing, due diligence requirements, data security, and electronic document submission.
Posted: November 27, 2023, 8:12 pm
The IRS said Tuesday that it will once again delay of the application of the Form 1099-K $600 reporting threshold. And, for 2024, it is setting the threshold at $5,000.
Posted: November 21, 2023, 10:26 pm
The IRS on Friday issued proposed regulations providing guidance on the new rule that disallows charitable contribution deductions for certain conservation easement contributions by partnerships and other passthrough entities.
Posted: November 17, 2023, 9:38 pm
The proposed regulations on digital asset reporting stretch the meaning of broker ‘beyond the breaking point,’ IRS and Treasury officials are told at public hearing.
Posted: November 15, 2023, 9:35 pm
While the Inflation Reduction Act provides a 10-year window for spending billions of dollars, the IRS is under pressure to prove that it can change and improve, commissioner Danny Werfel says at AICPA tax conference.
Posted: November 14, 2023, 9:45 pm
The adjustments cover over 60 tax provisions and generally apply to tax returns that will be filed in 2025.
Posted: November 9, 2023, 11:37 pm
Treasury’s Financial Crimes Enforcement Network (FinCEN) made changes to its beneficial ownership information reporting rule in response to comments to a proposed rule.
Posted: November 8, 2023, 9:50 pm
The IRS announced the inflation adjusted limits on benefits and contributions for various retirement accounts on Wednesday, including the maximum contribution amounts for 401(k) plans and IRAs.
Posted: November 2, 2023, 12:30 pm
In a letter to Treasury’s Financial Crimes Enforcement Network, the AICPA says the additional time will give all businesses a fair and reasonable time frame to become aware of the new and complex rule.
Posted: October 31, 2023, 9:41 pm
A temporary COVID-19 change to allow e-signatures on some forms, documents, and returns has been made permanent in the Internal Revenue Manual. The AICPA had advocated for making this change to the e-signature rules permanent.
Posted: October 25, 2023, 6:31 pm
Commissioner Danny Werfel focused on IRS efforts to get wealthy corporations and high-income individuals to pay taxes they owe as he made his case for the Service to keep both its annual appropriations and funding from the Inflation Reduction Act.
Posted: October 20, 2023, 6:45 pm
The withdrawal program is one step that the IRS is taking to help small businesses that may have filed an ineligible claim while also cracking down on unscrupulous promoters.
Posted: October 19, 2023, 6:17 pm
The pilot program for the 2024 filing season will let individuals file returns directly with the IRS, with strict limits on eligibility, covering only taxpayers with relatively simple returns.
Posted: October 18, 2023, 9:11 pm
The IRS said the increase in the projected tax gap is due to growth projected increases in nonfiling and underreporting of individual income tax, along with underreporting of self-employment tax.
Posted: October 18, 2023, 6:37 pm
Qualifying individuals and businesses have until Oct. 7, 2024, to file certain federal returns, make tax payments, and perform other time-sensitive, tax-related actions, according to an IRS notice.
Posted: October 16, 2023, 1:09 pm