2023 - Page 4 of 8 - Journal of Accountancy

The magazines

July 1, 2023

A guide on when, where, and how to blow the whistle safely

The “Responding to Noncompliance With Laws and Regulations” (NOCLAR) interpretations included in the AICPA Code of Professional Conduct answer questions members in business may have about reporting fraud.

July 1, 2023

Estate’s claimed deductions recharacterized as gifts or bequests

Payments purportedly for care and companionship were not evidenced as bona fide consideration or compensation as claims against the estate, the Tax Court holds.

July 1, 2023

Taxpayer’s blog posts held admissible in innocent-spouse case

In a case of first impression, the Tax Court considered the evidence ‘newly discovered’ and ‘previously unavailable.’

July 1, 2023

Line items

AICPA supports extending mailbox rule to electronic filing and payments … IRS backlog lessens; agency plans to resume collection notices … Proposed regs. provide rules for repatriation of intangible property … IRS returns to in-person public hearings; telephone still an option … Werfel: IRS will audit individuals under $400K at 2018 rates

July 1, 2023

Use Forms to collect client feedback

Surveys are great for collecting information from your clients, and using software to collect responses makes generating reports and metrics a breeze.

July 1, 2023

Bring attention to a comment in Excel with @mentions

Excel recently released @mentions to tag specific people within the comments.

July 1, 2023

Mitigating risk of large FBAR and international tax claims

Claims relating to U.S. filing obligations for foreign activity, including the FBAR, are getting increasingly more severe.

July 1, 2023

Bad debt deduction denied

An LLC’s cash advances to a corporation in which the LLC’s owners held shares represented equity, not bona fide debt, the Tax Court held.

July 1, 2023

Compliance is good, but a culture of ethics is better

Finance and ethics expert Clare Levison, CPA, CGMA, explores the connection between the good life and knowing and adhering to all the standards and laws that govern the profession.

July 1, 2023

Collaboration with an Excel workbook

A share feature in Excel allows you to share your workbook and specify sections, tables, ranges, charts, or worksheets that need to be addressed or viewed by someone else.

July 1, 2023

A taxonomy for classifying digital assets

A nonauthoritative guide aids accountants with discussions about digital assets, general ledger account management, establishing internal controls, and complying with anticipated regulatory changes around reconciliations and disclosures.

July 1, 2023

What’s your fraud IQ?

Test your knowledge of ethics standards and how to properly administer and enforce ethics polices within an organization to promote ethical decision-making.

June 1, 2023

How a CPA saved a state millions in health care costs

Marilyn Bartlett, CPA, changed the conversation about health care policy when her penchant for numbers saved Montana’s state employee health plan millions without increasing member or employer contributions.

June 1, 2023

Ninth Circuit reverses its earlier holding in Seaview Trading

Rehearing the case en banc, the court determines that an LLC’s faxed and subsequently mailed copy of its late return were not filings that started an adjustment limitation period.

June 1, 2023

Line items

AICPA encouraged by IRS $80 billion strategic operating plan … Proposed regs. identify microcaptive reportable transactions … Safe-harbor language issued for amending conservation easement deeds … IRS unveils $80 billion spending plan … No basis step-up for grantor trust assets if not in grantor’s estate … NFTs as collectibles: IRS issues guidance and seeks comments

June 1, 2023

Take refuge in a password manager

Password managers have features an Internet browser lacks that can make your life easier, such as a customized password generator and built-in authenticator for six-digit codes.

June 1, 2023

Opening doors to expand tax and accounting careers

At Intuit, Joe Lillie leads an organization of 10k+ seasonal and full-time tax and accounting professionals who interact live with consumers through virtual engagements, helping them to maximize their tax deductions and outcomes while using our TurboTax product. He also develops and leads strategies that fuel growth for Intuit’s live services offerings on an AI-driven technology platform, resulting in more seamless experiences that deliver impact and high consumer confidence.

June 1, 2023

The new world of work: Tips for success as an accounting manager

As workplace expectations change, this advice can
help firms and their people create an environment
that attracts and retains employees.

June 1, 2023

Attorney’s racing activities fall short of the finish line

A taxpayer participated in auto races for personal enjoyment rather than to advertise his law practice, the Tax Court holds.

June 1, 2023

Qualified appraisal required for charitable contributions of cryptoassets

The exchange-reported value of digital assets does not substitute for the qualified appraisal required for a charitable contribution deduction; a reasonable-cause exception will not apply, the IRS Office of Chief Counsel advises.

FROM THIS MONTH'S ISSUE

Flip out with the latest Tech Q&A

The September Technology Q&A column shows how to create dynamic to-do lists with Excel's checkboxes and also how to set up multifactor authentication texts that don't rely on phones. Flip through both items and view a video walkthrough in our digital format.