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NEWS
Taxpayers who received certain general welfare or disaster relief payments or refunds in 2022 will not have to include them in income on their federal returns, the IRS announced on Friday.
Board president reaffirms commitment to protecting CPA mobility while continuing efforts to find solutions for talent acquisition issues affecting everyone in the profession.
The national taxpayer advocate criticized the IRS for delaying the release of guidance on state special tax payments or refunds made in 2022 that she said could affect tens of millions of taxpayers.
Reestablishing old relationships may feel intimidating but can be very rewarding. These five strategies can help to reconnect.
The IRS proposes a new voluntary program for service industry employers to track tips in an attempt to improve tip reporting compliance.
GASB issued a proposed implementation guidance that is intended to clarify, explain, or elaborate on existing guidance on subscription-based information technology arrangements.
Anoop Natwar Mehta is traveling the country, meeting with the next generation of accounting professionals. Along the way, he’s gained some valuable perspective that can fuel company leaders’ efforts to hire the best and brightest.
Treasury and the IRS said Friday the IRS will use the EPA Fuel Economy Labeling Standard in proposed regulations to define which vehicles are eligible for the Sec. 30D clean vehicle tax credits, enacted as part of the Inflation Reduction Act.
Newly published insights can help audit firms avoid public disclosure of quality control criticisms issued by the PCAOB.
Kenneth Corbin, commissioner of the IRS Wage and Investment Division, said calls are being answered in under 10 minutes as a result of more staff and stifling the “voice bots.”
Effective communication is an essential skill for accountants and finance professionals. Here are five basic tactics that impactful communicators use.
The percentage of CFOs who are women hit an all-time high last year, and racial and ethnic minorities also continue to make gains in obtaining roles in the C-suite, according to an annual report from Crist Kolder.
This month’s column explains how the new AI tool known as ChatGPT can help with challenging Excel tasks such as creating PivotTables and writing macros.
Boardrooms that foster strong working relationships are good for business. The National Association of Corporate Directors offers some advice.
Although available to businesses of any size, the IRS expects the new Information Returns Intake System to be especially useful to small businesses that now file paper Forms 1099.
The IRS also expanded and clarified the instructions for answering the question to help taxpayers answer it correctly. Taxpayers must answer the question even if they didn’t engage in activities involving digital assets, just as in the 2021 tax year.
Understanding health savings accounts’ useful, lesser-known features is key to helping clients make the most of this important retirement planning tool.
Felipe Crespo reached the pinnacle as a baseball player, and now he’s reaching new heights with his accounting firm in Puerto Rico.
FinCEN estimates that most companies will have a simple structure that will require 90 minutes per response, but complex entry filings will require much more time.
Complying with AU-C Section 240, Consideration of Fraud in a Financial Statement Audit, when conducting financial statement audits challenges practitioners’ professional skills and knowledge regarding identification, assessment, and response to fraud risks. Academic research reveals best practices for enhancing fraud-related financial audit performance.
SPONSORED REPORT
Get Clients Ready for Tax SeasonThis comprehensive report looks at the changes to the child tax credit, earned income tax credit, and child and dependent care credit caused by the expiration of provisions in the American Rescue Plan Act; the ability e-file more returns in the Form 1040 series; automobile mileage deductions; the alternative minimum tax; gift tax exemptions; strategies for accelerating or postponing income and deductions; and retirement and estate planning.
