Investment


The IRS’s revenue ruling 2006-1 clarifies that income from commodity-index derivatives contracts does not help a mutual fund qualify for the usual tax benefits ( www.irs.gov/pub/irs-drop/rr-06-01.pdf ). The service will apply its newly announced position prospectively so that funds will have enough time to adapt to it and communicate it to their shareholders.

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2019 State of Financial Reporting Survey

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VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.