Accounting


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The AICPA staff issued two technical practice aids (TPAs) ( www.aicpa.org/members/div/acctstd/ ) on the applicability of FASB Interpretation no. 45, “Guarantor’s Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others” ( www.fasb.org/st/summary ). TPA 6400.45 addresses physician loans, and TPA 6400.46 discusses mortgage guarantees. Practitioners are encouraged to implement the guidance as soon as possible.

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.