New Accounting-Change Process Proposed


The IRS is requesting comments on a proposal to revamp how taxpayers may obtain the Service’s consent to change their method of accounting for tax purposes. Notice 2007-88 describes a “standard consent process” that would become the exclusive method not only for changes currently eligible for automatic consent but other changes not specifically requiring what would be called “specific consent” or “letter ruling consent.” Comments are requested by Jan. 18. The IRS said it will conduct a pilot program before issuing definitive guidance or implementing any permanent changes.

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In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.

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A closer look at threats to CPA licensure

Legislation in states around the country could put CPA licensure in danger. This episode examines what practitioners need to know to help ensure the profession is protected.