The rulemaking mainly consolidates existing guidance in one location, but it also responds to a recent court decision that held invalid certain changes to donor-reporting requirements.
The IRS announced procedures to allow certain individuals who have renounced their U.S. citizenship to get into compliance with their US tax obligations and obtain relief for back taxes.
Taxpayers that use the accrual method and receive advance payments for good or services were given new rules by the IRS on when to include the advance payments in income.
A proposed Accounting Standards Update would establish temporary guidance designed to reduce the accounting burdens associated with the shift from LIBOR and other interbank-offered interest rates to new reference rates.
Economic expectations for the United States and the world tumbled in the third quarter amid trade concerns and indications of a possible recession.
Tech experts weigh in on the steps firms can take to stay productive in the event of a cloud software outage.
FASB has proposed delays in effective dates for some major accounting standards for certain financial statement preparers. Here’s how preparers can make the best use of the extra time.
Take a look at data points market watchers are following for signals of a potential U.S. recession.
Under a proposal issued by the AICPA Auditing Standards Board, AU-C Sections 800, 805, and 810 would be aligned with the changes introduced by new auditor reporting standards.
Seventy percent of young adult job seekers say the freedom of being their own boss is worth more than the benefit of job security working for someone else, according to research conducted by MAVY Poll on behalf of the AICPA.
The IRS issued proposed rules that provide maximum automobile values for the cents-per-mile and fleet-average valuation rules used to determine the amount to include in an employee’s gross income for personal use of an employer-provided vehicle.
The PCAOB released staff guidance documents that are designed to help auditors implement the board’s new standards and amendments on auditing accounting estimates and the auditor’s use of the work of specialists.
A proposal issued by the AICPA Auditing Standards Board (ASB) is intended to provide auditors with enhanced guidance on auditing accounting estimates.
A new interpretation of Federal Financial Accounting Standards is designed to clarify the application of cleanup cost liability standards when multiple component reporting entities are involved.
The effective date of a new accounting standard for long-term insurance contracts would be delayed under a proposal issued FASB.
Emerging engagements such as sustainability attestation services and System and Organization Controls reports require auditors to consider materiality for subject matters that can’t be quantitatively measured.
State and local governments received implementation guidance for the Governmental Accounting Standards Board’s lease accounting standard.
Some taxpayers who paid 2018 underpayment penalties will receive refund checks because the penalties will be automatically waived for those who qualify, the IRS announced.
Private companies and certain other preparers would see delays in effective dates for accounting standards for leases, hedging, and credit losses under a proposal issued by FASB.
Working drafts of accounting issues related to the Financial Accounting Standards Board’s new credit losses standard were issued by the AICPA Financial Reporting Executive Committee.
Tax reform complicates year-end tax planning
What RPA is and how it works