Business tax

Final rules govern U.S. country-by-country reporting

The IRS issued final regulations requiring the ultimate parent entity of a multinational enterprise group with revenue of $850 million or more in the preceding accounting period to file Form 8975, Country-by-Country Report.

Congress extends expired tax provisions and makes some permanent

Some tax breaks are extended for two years, some for five, and a few are made permanent in Congress’s annual year-end extenders legislation. (Plus: An updated version of the JofA’s annual quick guide PDF that includes changes related to the legislation.)

Tax season launches

Despite another year of uncertainty about congressional passage of retroactive “extender” provisions, CPAs’ tax season can benefit from these tips and resources.

PTO and constructive receipt

Paid-time-off plans can create problems with the timing of, and cross-year accounting for, payroll tax liabilities.

Employment tax returns lag in e-filing

A low e-filing rate for employment tax returns in the Form 94x series is the biggest obstacle to achieving the goal of 80% electronic filing of all major types of tax returns.

Deducting tickets to sporting events

For an employer to claim a deduction, an employee must engage in a bona fide business transaction during the event on behalf of the employer and meet several other requirements.

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

News quiz: Taking an economic snapshot and looking to the future

Recent news included IRS actions that affect individuals and partnerships and a possibly influential move by a Big Four accounting firm.Take this short quiz to see how much you know about the news.