“When taxpayers do not claim tax benefits because they do not know about
them, Congress’ intent in providing the tax benefits is undermined and
taxpayers understandably question the fairness of the tax system.”
National Taxpayer Advocate Nina E. Olson, Jan. 9
New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.