Problems included trouble getting through on the phone and trouble reaching IRS representatives who could answer their questions. Written communications with the agency were another source of frustrations.
Recent news reports covered college loan debt, women in the CPA profession, a development on retirement accounts and a proposal related to Dodd-Frank implementation.
The Eleventh Circuit Court of Appeals held that payments a retired Mary Kay sales consultant received from the cosmetics company were subject to self-employment taxes because they were payments of deferred compensation.
Clarifications on guidance for contract costs, and preproduction costs related to long-term supply arrangements are included in the proposal.
The regulations allow taxpayers to allocate pretax amounts to direct rollovers, rather than having to make pro rata allocations.
Nina Olson, the national taxpayer advocate, heard from tax practitioners and taxpayer groups on how the IRS can modernize its taxpayer services.
Voluntary audit data standards proposed by the AICPA Assurance Services Executive Committee are designed to enable more efficient and effective exchange of information between companies and auditors.
Using Big Data to inform business decisions can give organizations an edge over their competitors, IBM Vice President Paul Zikopoulos said at the AICPA spring Council meeting.
With leaders from the Baby Boomer generation retiring, the CPA profession is looking for new leaders to step forward.
Technology, specialization, succession issues and other factors are combining to change the marketplace for CPA firms.
As it works through a long list of priorities and plans for its “future state,” the IRS should look to CPAs, who based on their experience can provide a unique viewpoint.
A proposal issued jointly by six federal agencies would prohibit executives and employees of financial institutions from taking inappropriate risks.
Timely use of data can help organizations improve decision-making. But the human element remains an important part in harnessing the power of data analytics.
Chris Tarbell led FBI investigations that resulted in multiple high-profile cybercrime arrests. He shared his tips for cybersecurity during a presentation at the AICPA spring Council meeting.
FASB issued a proposal that would simplify goodwill impairment testing. The board proposed removing Step 2 from the goodwill impairment test.
See how much you know about this week's IRS, FASB and SEC news with this short quiz.
Channeling money into a retirement fund in your 20s and 30s can pay big dividends when it’s time to stop working. But a new AICPA poll finds student loan debt is increasingly weighing on adults in the United States.
The PCAOB voted to propose revised changes to a standard that would modify the auditor’s reporting model to give investors more information.
Audit firms will be required to disclose the name of the engagement partner and information about other firms participating in audits under a PCAOB rule that was approved by the SEC.
FASB issued a third round of clarifications to its revenue recognition standard on Monday, focusing on narrow-scope changes and practical expedients.