2025 - Page 7 of 8 - Journal of Accountancy

The magazines

March 1, 2025

The risk of providing unintentional financial advice

Clients often seek their CPA’s advice on potential investments. Failure to respond properly can leave the CPA subject to lawsuits.

March 1, 2025

Line items

Business standard mileage rate increases for 2025 … Applicability date set for required minimum distribution regulations … IRS amends rules for computing the premium tax credit … IRS expands online accounts, provides enforcement update … Regs. address partnership recourse liabilities, related-party rules … IRS again delays effective date of $600 threshold for Form 1099-K reporting … IRS will accept duplicate dependent returns submitted with an IP PIN

March 1, 2025

Doing accounts receivable aging reports in Excel

This article provides an example of building a dynamic AR aging schedule in Excel.

March 1, 2025

Are you too busy to lead?

Leadership coaches and firm leaders share insights about how to get off the busy-ness treadmill and make time for high-level responsibilities.

March 1, 2025

Lessons learned from the first year of SAS 145

Implementing SAS 145, the new audit standard, has changed one firm’s documentation and brought about efficiencies.

March 1, 2025

Fifth Circuit affirms denial of accountable care organization’s tax exemption

Finding that the organization was not operated exclusively for the promotion of social welfare, the Fifth Circuit affirmed the Tax Court’s judgment.

March 1, 2025

Transfer pricing: Not just for the tax department

Financial reporting needs to be given greater attention as the stakes of transfer pricing disputes rise.

March 1, 2025

Frozen digital asset rewards constitute gross income

Digital asset rewards from staking and other activities constitute income in the year of receipt, irrespective of whether the account is later frozen, the IRS Chief Counsel’s office determined.

March 1, 2025

FBAR penalties are not taxes imposed by the Code

Because they are imposed under Title 31, taxpayers’ foreign bank account reporting failure penalties were not subject to the Code’s procedural requirements, the Tax Court held.

February 1, 2025

How to use Excel’s UNIQUE Function

Excel’s UNIQUE function allows users to extract unique values from a dataset, making it easier to identify and remove duplicates.

February 1, 2025

Exercising caution with non-GAAP measures and disclosures

The use of individually tailored accounting information requires higher professional skepticism from financial statement preparers and users.

February 1, 2025

Frivolous-tax-return penalty sustained

The Tax Court found all requirements of Sec. 6702(a) were met regarding the taxpayer’s zero-wage and -income return.

February 1, 2025

Line items

Final regs. modernize process for sale of taxpayers’ property … Inflation adjustments to retirement account limits issued for 2024 … IRS to end automatic penalties for late filing of foreign gift, bequest forms … Fraudsters get $47 million from practitioner priority service line scheme

February 1, 2025

5 tech items to take on work trips

This travel kit can help you complete almost as many tasks as you would from home.

February 1, 2025

Retired partners: A liability risk?

A retired partner may expose a CPA firm to professional liability risk if clients believe the former partner still speaks for the firm and rely upon that individual’s advice.

February 1, 2025

Generative AI’s toughest question: What’s it worth?

Finance leaders struggle to determine generative AI’s costs and benefits, but there are suggestions on how to tackle the problem.

February 1, 2025

FBAR penalties are not extinguished upon taxpayer’s death

FBAR penalties accrue on the date the FBAR form is due, not the date the penalty is assessed, a district court held.

February 1, 2025

How finance can get started with gen AI

Follow these steps to make sure you are on track with this game-changing technology.

February 1, 2025

How Medicare rules affect HSA eligibility after age 65

The complex rules for Medicare and health savings accounts lead to many client questions. Here are answers to some of the most common ones.

January 1, 2025

Line items

IRS processing 400K ERC claims with about $10 billion in eligibility … Social Security wage base announced for 2025 … Intangible property repatriation rules finalized … TIGTA says IRS should review $42 billion in ERC claims … Final regs. target syndicated conservation easement transactions