In “Tax Season Kicks Off” (Jan. 10, page 32), the section on “Business Relief” misstated the amount of new or used tangible personal property placed in service during the tax year that was eligible for expensing under section 179 in 2008. The correct amount is $250,000, the same as in tax year 2009. The JofA regrets the error.
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How tax reform — and Excel — are changing the CPA ExamMike Decker, the vice president of examinations at the AICPA, discusses changes being made to the exam as a result of tax reform — and about how Excel will now be available for use on the test.