2024 - Page 5 of 7 - Journal of Accountancy

The magazines

May 1, 2024

Change text to sentence case in Excel

In this month’s column, find out how to change text strings to sentence case in Excel.

May 1, 2024

Line items

IRS renews focus on targeting high-income nonfilers … IRS announces delay for Form 1042 e-filing requirement … IRS to begin audits of personal, business use of corporate jets … Form 1099-K frequently asked questions revised … Study: IRS could collect billions more with full funding … Auto depreciation limitations increase

May 1, 2024

IRS Appeals abused its discretion by abruptly ending CDP hearing

Rejection of the taxpayer’s proposed collection alternatives was ‘hasty,’ the Tax Court finds.

May 1, 2024

Excise tax imposed on $25 million in excess IRA contributions

The Tax Court rebuffs the taxpayer’s argument that the Sec. 4973 tax is actually a penalty.

May 1, 2024

Tracking the top trends in fraud

Leading forensic accountants share their insights on the schemes most likely to affect CPAs and their clients.

May 1, 2024

Navigating the patchwork of pay transparency laws

The patchwork of state and local laws regarding pay equity can create compliance challenges for CPA firms that employ remote workforces, recruit nationally, or expand their geographical footprint.

May 1, 2024

Tax Court has jurisdiction to hear taxpayers’ case

A notice of deficiency’s petition filing deadline controls despite, in an ‘obvious mistake,’ being more than a year after the notice’s mailing date.

May 1, 2024

AI and fraud: What CPAs should know

Artificial intelligence technology can be misused for fraud, but it is also a tool accountants can use to detect fraud. Find out how to manage AI-generated fraud risks.

April 1, 2024

GenAI for accountants: 10 prompt-writing tips

The emerging art of ‘prompt crafting’ can deliver more powerful results from platforms like ChatGPT and Google Gemini.

April 1, 2024

Court’s inaccessibility extends taxpayers’ petition filing deadline

Although mailed after the 90- day deadline had expired, the petition was timely because it was filed within a 14-day extension provided under Sec. 7451(b)(1).

April 1, 2024

Managing change in audit technology transformation

Constant change can be exhausting. To transform their audit technology despite change fatigue, firms can follow these tried-and-true suggestions.

April 1, 2024

Line items

Simpler IRS notices are coming … Reporting of digital assets as cash delayed until IRS issues regs. … IRS enforcement efforts collect $520 million from
wealthy taxpayers … Taxpayer advocate: IRS again fails tax pros with PPS call answer rate … IRS collects record-setting $4.9 trillion in tax revenue in FY 2022 … ERC voluntary Disclosure program requiring 80% claim payback launched

April 1, 2024