The Tax Court held that Regs. Sec. 1.482-7(d)(2), requiring entities to share stock-based compensation costs under qualified cost-sharing agreements, failed to meet the reasoned decision-making standard and was invalid.
The new rules generally require taxpayers filing claims for refund or credit to file their claim with the IRS service center at which the taxpayers currently would be required to file a tax return for the type of tax to which the claims relate.
The Financial Accounting Standards Board has issued amendments designed to make the subsequent measurement of inventory less complex.
The IRS will apply a six-factor test to determine whether payments to partners are disguised payments for services under proposed regulations issued today.
The delay keeps IASB’s effective date in line with that of FASB, which also voted in favor of a one-year deferral earlier this month.
The IRS has posted a draft revised version of Form 3115, Application for Change in Accounting Method, on its website.
The revisions include changes to 10 international standards on auditing and conforming amendments to five other standards.
Many reported it was difficult or very difficult to resolve the issue with the IRS, echoing recent findings by the Taxpayer Advocate Service.
The AICPA is encouraging members to comment on a new set of rules proposed for the use of extensible business reporting language (XBRL) in tagging financial reports submitted to the Securities and Exchange Commission.
Americans’ financial well-being is the highest it’s been since 2007, according to the American Institute of CPAs’ latest Personal Financial Satisfaction Index, which reached an eight-year high during the second quarter.
Fewer than 10% of callers to the IRS’s phone line for victims of identity theft got through to an IRS assistor during some of the busiest weeks of tax season.
Speaking at an IRS Nationwide Forum in Fort Washington, Md., the deputy director of the IRS Office of Professional Responsibility warned practitioners that they should exercise due diligence when advising clients on emerging tax issues.
The IRS announced that it would amend its regulations under Sec. 401(a)(9) to provide that qualified defined benefit plans cannot replace any joint and survivor, single life, or other annuity currently being paid, with a lump-sum payment or other accelerated distribution.
Citing challenges for financial statement preparers, FASB voted to delay the effective date of the new revenue recognition standard by one year, with early adoption permitted as of the original effective date.
A “three lines of defense” model can help organizations establish responsibility for duties under the COSO framework.
Internal auditors are facing many new challenges in a world where technology and globalization are leading to rapid changes.
Internal auditors may need to change their approach to audit planning to keep up with unexpected and fast-paced changes in risks, a new global survey shows.
An update to professional guidance is designed to help internal auditors assist their organizations in navigating risks.
The SEC is evaluating whether audit committee disclosure requirements provide investors with the information they are seeking.
New rules proposed by the SEC would require executives to repay incentive-based compensation that a subsequent accounting restatement shows was not earned.