State and local governments received implementation guidance for the Governmental Accounting Standards Board’s lease accounting standard.
Some taxpayers who paid 2018 underpayment penalties will receive refund checks because the penalties will be automatically waived for those who qualify, the IRS announced.
Private companies and certain other preparers would see delays in effective dates for accounting standards for leases, hedging, and credit losses under a proposal issued by FASB.
Working drafts of accounting issues related to the Financial Accounting Standards Board’s new credit losses standard were issued by the AICPA Financial Reporting Executive Committee.
Discrepancies between the amount of alimony deducted by payers and reported as income by its recipients increased by 38% in six years, the Treasury Inspector General for Tax Administration reported.
Almost one-third (31%) of new graduate hires in public accounting in 2018 were nonaccounting graduates, a new AICPA survey shows.
The Internal Revenue Service proposed regulations to clarify how to classify transactions involving digital content and cloud computing.
The AICPA and NASBA helped found a new coalition of advanced professions with the goal of educating policymakers and the public on the importance of professional licensing standards.
New research performed with the help of the AICPA’s Assurance Research Advisory Group has provided new insights on ways to improve quality in group audits.
The IRS issued updated procedures for third-party contacts to reflect changes enacted in the recent Taxpayer First Act, requiring the IRS to notify taxpayers at least 45 days before it contacts a third party to determine or collect a tax.
The IRS will permit taxpayers to change their bonus depreciation treatment for property acquired after Sept. 27, 2017, and placed in service during a tax year that includes Sept. 28, 2017.
FASB addressed one of the most challenging areas of financial reporting with a proposal intended to help distinguish liabilities from equity.
FASB issued a proposal that would clarify the interaction between its standard on recognition and measurement of financial instruments and its standard on equity method investments.
The IRS is permitting certain partnerships that timely filed their tax returns for the 2018 tax year an extension of time to file superseding returns and Schedules K-1 for their partners.
The IRS has begun sending what it calls “educational letters” to taxpayers it has identified as not reporting virtual currency transactions or reporting them incorrectly.
It’s critical for auditors to understand their responsibilities related to internal controls. Take this quiz to see how much you know about this topic.
Stock market growth, among other factors, has kept Americans’ personal financial satisfaction positive in Q2 of 2019, according to the AICPA’s Personal Financial Satisfaction Index (PFSi).
An AICPA ethics interpretation on hosting services addresses how CPAs can maintain their independence. The interpretation took effect July 1.
The IRS added 14 types of preventive care items that qualify to be provided under a high-deductible health plan to treat chronic medical conditions.
Effective dates for certain entities for key standards on accounting for leases, credit losses, hedging, and long-duration insurance contracts would change under a proposal FASB voted to direct its staff to draft.