In addition to a proposed spending blueprint for the government, President Barack Obama’s proposed FY 2017 federal budget contains a wide variety of tax law changes that would affect individuals and businesses.
The IRS issued inflation adjustments for the Sec. 179 expensing limits, the above-the-line deduction for eligible expenses of educators, and the deductible amount for van pool and transit expenses.
The IRS issued the 2016 inflation-adjusted amounts for the maximum vehicle values for purposes of determining the amount that is included in employees’ income for personal use of an employer-provided vehicle.
A new not-for-profit has corralled 20 large U.S. companies into an effort that could rebalance relationships between corporate America and the health supply chain.
The IRS's tax return e-filing system was back in operation Thursday afternoon, a day after a computer hardware failure knocked out it and other IRS system services.
FASB decided to perform research on six topics for consideration of possible accounting standard setting.
CPAs would be able to earn continuing professional education credits in increments of one-fifth, one-half, or whole credits for all instructional delivery methods except nano-learning under an amended proposal issued Monday.
Changes to international professional standards proposed by The Institute of Internal Auditors are designed to help internal auditors meet the evolving demands they face.
The Financial Accounting Standards Board proposed amendments that are designed to address cash flow issues in financial reporting for which existing guidance does not exist or is unclear.
Investors had requested more information about changes in companies’ debt.
New guidance for federal government reporting entities is designed to assist with valuation for opening balances for inventory, operating materials and supplies, and stockpile materials.
Two proposals issued by the Financial Accounting Standards Board are designed to improve presentation and disclosure in retirement benefit accounting.
An amendment issued by the AICPA Auditing Standards Board clarifies the format of the auditor’s report that should be used when an audit is conducted in accordance with the PCAOB’s standards but is not under the PCAOB’s jurisdiction.
Corporate financial statement preparers are moving slowly in implementation of new accounting standards for revenue recognition and leases, a new survey shows.
Federal government reporting entities received fresh guidance this week on how to implement a 1998 accounting standard for internal-use software.
A new notice requirement recently enacted by Congress in the wake of the scandal regarding the IRS’s handling of Sec. 501(c)(4) applications will not be implemented immediately, the IRS announced.
If your firm is looking at making the switch, consider asking them to serve on a value council—or even as the “chief value officer.”
CPA financial planners identify five major mistakes made by people who become rich overnight, and suggest ways to avoid them.
The financial well-being of the typical American is better than it was a year ago, according to the PFSi, a proprietary AICPA index.
The International Accounting Standards Board issued a new accounting standard that will bring all lease assets and liabilities onto the balance sheet.