2015 - Page 20 of 22 - Journal of Accountancy

The magazines

February 1, 2015

Seventh Circuit denies plaintiffs’ standing to challenge parsonage allowance

Group’s leaders did not claim the income exemption. Finding the plaintiffs lacked standing, the Seventh Circuit vacated a district court’s holding that the Sec. 107(2) “parsonage” rental allowance income exclusion for ministers violates the Constitution and remanded the case with instructions to dismiss it for lack of jurisdiction. Facts: Freedom

February 1, 2015

Merged corporations can offset tax interest

The surviving corporation and acquired corporations in a merger are considered the same taxpayer for purposes of interest offsetting.

February 1, 2015

Tips for conducting a forensic interview

A properly conducted forensic interview turns a potentially reluctant subject into an information-providing source.

January 5, 2015

Getting into the swing of tax season

The 2015 tax filing season could be delayed and features several new health carerelated provisions for 2014 returns. Plus: The JofA’s annual Quick Guide, a printable card that contains dollar thresholds, tax tables, standard amounts, credits, and deductions to keep at your fingertips during tax season.

January 1, 2015

GASB pension changes: Are you ready?

GASB Statements No. 67 and No. 68 have created significant changes in pension accounting for state and local governments that affect financial statement preparers and auditors.

January 1, 2015

How to meet the challenge of the open workforce

Companies across the globe are embracing the “open workforce” model, a trend that has been fueled by globalization and digitization.

January 1, 2015

Randy Hatzenbuhler, CPA

A conversation with Randy Hatzenbuhler, CPA, president of the Theodore Roosevelt Medora Foundation.

January 1, 2015

TIGTA: Process for complaints against preparers is too slow

The Treasury Inspector General for Tax Administration said in Rep’t No. 2014-40-056 that its audit indicated the IRS does not timely process complaints it receives against tax return preparers.

January 1, 2015

AICPA: Repair regulations’ de minimis safe harbor is set too low

The Institute asks the IRS for an increase in the threshold.

January 1, 2015

Streamlined offshore compliance procedures updated

Changes apply to taxpayers whose violations are nonwillful.

January 1, 2015

Notice defines terms for economic substance doctrine

“Similar rule of law” is limited to the same factors and analysis as under the codified economic substance doctrine for an accuracy-related penalty.

January 1, 2015

Canadian retirement plan beneficiaries get relief

Under the U.S.-Canada tax convention, beneficiaries in an arrangement exempt from taxation by Canada and operated exclusively to provide pension or employee benefits may defer U.S. recognition of income accrued in the plan but undistributed. A recently issued revenue procedure (Rev. Proc. 2014-55) provides new procedures for making this election,

January 1, 2015