In a study, the US Government Accountability Office finds that the IRS’s individual tax audit rates decreased by 72% during 2010–2019, and by a greater percentage for higher-income taxpayers than for lower-income ones.
The IRS responds to a report by the Treasury Inspector General for Tax Administration that pointed to the March 2021 incident as one example demonstrating a need for the Service to increase e-filing options.
Great relationships with clients can be achieved and maintained by proactive communication practices.
The new standards represent a significant change in how CPA firms will approach audit and assurance quality in the future.
Build your supply chain knowledge by networking and tracking the news.
For retirees, effective tax planning requires taking a long view and spending down assets from a variety of sources each year.
The FASAB proposed changes intended to clarify the application of lessee and lessor discounting requirements.
In an omnibus statement, the GASB issued guidance and clarifications on numerous accounting and financial reporting issues.
Anna Mok, CPA, shares advice for women in accounting, in preparation for the panel session “AmplifiHER: Inspirational Women Breaking Ceilings and Stereotypes in the Profession” at the upcoming AICPA & CIMA ENGAGE conference.
The Technical Questions and Answers address auditor reporting when the entity issues its annual report subsequent to its financial statements.
The Treasury Inspector General for Tax Administration finds a lack of coordinated effort across the IRS to fulfill opportunities for wider electronic return filing.
Sanctions in response to the war in Ukraine include a ban on accounting and management consulting services, according to government statements issued Monday.
The SEC announced an extension in the public comment period for its proposal on climate-related disclosure requirements.
The IRS provides two simplified filing methods for bona fide residents of Puerto Rico to claim the child tax credit.
Companies that received financial assistance during the pandemic have questions about which standards to apply related to accounting for the ERC.
The Treasury Inspector General for Tax Administration issues a preliminary assessment of the IRS’s performance in the recently concluded period for income tax filings.
The National Association of Black Accountants and the Center for Audit Quality are aiming to increase the diversity of talent coming into the accounting profession by working together to match community college students with mentors and tutors to help them progress to four-year accounting programs.
Health savings account maximum contributions, along with minimum deductibles and maximum out-of-pocket expenses of accompanying high-deductible health plans, will be higher next year.
The IRS delays e-filing capability for schedules reporting S shareholders’ items of international tax relevance, earlier forecast for mid-June, to July 24.
CPAs who are neurodivergent, and other experts, share how firms can make their workplaces more equitable and welcoming to staff with disabilities.