NEWS

R&D credit claim transition period extended

Taxpayers now have until Jan. 10, 2024, to supply missing information within 45 days of submitting a Sec. 41 research and development credit refund claim under new requirements.

CFO optimism is declining as cost concerns rise

US CFOs have grown more pessimistic about the economy — thanks to increasing costs of goods and services, increasing energy costs, and supply chain challenges — according to a quarterly survey by Grant Thornton.

CPA email closings: Go pro or add a personal touch?

Accounting professionals discuss the importance of email as a communication tool and the need to think about how their emails — including the closings — reflect on their and their firms’ professionalism. They say the messages should also consider the nature of the relationship they have with the other person.

FASAB seeks comments on proposal related to reimbursable work agreements

The FASAB released an exposure draft technical bulletin, Intragovernmental Leasehold Reimbursable Work Agreements, which is intended to further explain and address accounting issues not directly covered under Statement of Federal Financial Accounting Standards 54, Leases, and other relevant statements.

AICPA seeks feedback on accounting and valuation guide

The AICPA’s Financial Reporting Executive Committee issued a working draft of the AICPA Accounting and Valuation Guide, Business Combinations, which would provide guidance and illustrations regarding the accounting and valuation considerations for business combination transactions.

CAQ increases diversity efforts with new initiative

The CAQ announced a strategic education initiative intended to expose students to careers in accounting, attract greater diversity and representation within the profession, and address barriers to entry from underrepresented and underserved groups.

AICPA asks IRS to expand penalty relief

The AICPA, in a letter to the IRS, urged the Service to expand the relief under Notice 2022-36 to include several other Code sections and forms and to extend the deadline for requesting relief to Dec. 31, 2022.

Where to find October’s flipbook issue

The Journal of Accountancy is now completely digital. 

 

 

 

SPONSORED REPORT

2022 Payroll Update

Employees working remotely have created numerous issues for employers. The 2022 Payroll Update report provides insight on remote workforce tax issues, pandemic payroll issues and employer credits, and worker classification issues in the gig economy.