The IRS on Friday expanded the number of cases that are eligible to go through mediation in Appeals and updated the mediation procedures (Revenue Procedure 2009-44). The IRS’ Appeals mediation program was authorized in 1998. The IRS Appeals function is designed to resolve tax controversies without litigation. The mediation program
Advertisement
IRS Boosts Tax Incentives for Retirement Savings
The IRS released several pieces of guidance Tuesday designed to boost tax incentives for retirement savings. The initiatives include expanded opportunities for automatic enrollment in 401(k) plans, vehicles for taxpayers to save their tax refunds and convert accrued vacation time into savings, and better explanations of the available options for
FASAB Committee’s Proposals Intended to Clarify Accounting for Asbestos Cleanup Costs
The Accounting and Auditing Policy Committee (AAPC), a permanent committee of the Federal Accounting Standards Advisory Board (FASAB), on Friday released two exposure drafts of new Federal Financial Accounting Technical Releases, Implementation Guidance on Asbestos Cleanup Costs Associated with Facilities and Installed Equipment and Implementation Guidance on Cleanup Costs Associated
PCAOB Publishes Q&A on References to Authoritative Accounting Guidance
The PCAOB on Wednesday published staff questions and answers about references to authoritative accounting guidance in PCAOB standards. The series of Q&As serves as a reminder that auditors should look to the FASB Accounting Standards Codification and SEC rules for authoritative U.S. GAAP guidance for SEC registrants, even though PCAOB
IRS Provides Guidance on Late Entity Classification Elections
The IRS on Thursday released Revenue Procedure 2009-41, giving eligible entities guidance on how to obtain relief when they make a late entity classification election. The relief is available for three years and 75 days after the requested effective date of the eligible entity’s classification election. Under the check-the-box regulations,
FASB Drops Some FIN 48 Disclosure Requirements for Private Companies
FASB on Wednesday issued Accounting Standards Update (ASU) 2009-06 to provide additional implementation guidance on accounting for uncertainty in income taxes and to eliminate the disclosures required by FASB Accounting Standards Codification (ASC) Paragraphs 740-10-50-15(a) through (b) for nonpublic entities, including pass-through and not-for-profit entities. The new guidance involves requirements
AICPA 2009 Leadership Academy Participants
Editor’s note: Also see “Inaugural Leadership Academy Helps Participants Hone Skills for the Future,” Sept. 09. Noel Abdur Rahim, PricewaterhouseCoopers LLP, Mich. Chad Becnel, Postlethwaite & Netterville, La. Gregory Bedard, Prudential Financial, N.J. Doshan Coilton, Macias Gini & O’Connell, Calif. Daniel Dehner, Durkin Forensic Inc., Calif. Andrew Dumich, William Dumich,
Payroll & HR Solutions
Sponsored by AccountantsWorld, ADP, PayChex, PayChoice, PayCycle and SurePayroll. Paychex Partners With CPAs to Outsource Payroll, HR FunctionsQ&A with Jonathan J. Judge, President & CEO, Paychex, Inc. ADP: Offering the Best Fit for Today’s Accountants and Small BusinessesQ&A with Don McLoughlin, VP of Marketing, ADP Small Business Solutions PayChoice Partners
Payroll Relief: High-Profit Payroll Without the Headaches
Dr. Chandra Bhansali is president and co-founder of AccountantsWorld with his wife Sharada Bhansali. AccountantsWorld is a pioneer in a new breed of accountant-centric solutions that let accountants work collaboratively with their clients. Interviewed by AICPA Editor-At-Large Rick Telberg. Q: How does AccountantsWorld’s Payroll Relief help accounting firms make money?
ADP: Offering the Best Fit for Today’s Accountants and Small Businesses
Don McLoughlin specializes in providing payroll and business solutions for businesses with fewer than 50 employees. ADP offers RUN Powered by ADP Payroll for Accountants®. He was interviewed by AICPA Editor-At-Large Rick Telberg. Q: What criteria should be applied to make an intelligent decision to outsource or in-source? A: Outsourcing
SurePayroll Brings Payroll to iPhones and Blackberrys
As one of the founding members of SurePayroll, Michael Alter has grown the company from its original five employees to a thriving business with tens of thousands of customers. Today, the company is a pillar of the payroll community and Alter is a widely recognized small business expert, quoted by
COSO Emphasizes Board’s Role in Overseeing Risk
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) on Tuesday published a document to help boards of directors strengthen their oversight of enterprise risks. The four-page paper, Effective Enterprise Risk Oversight: The Role of the Board of Directors, calls attention to COSO’s Enterprise Risk Management—Integrated Framework (2004) and
PayChoice Partners With Accountants for Payroll Success
CEO Robert Digby brings more than 20 years of payroll, HR and benefits industry expertise to PayChoice. He is the former president of RSM McGladrey Employer Services and has held senior roles at Ceridian. He was interviewed by AICPA Editor-At-Large Rick Telberg. Q: What do firms overlook when deciding whether
Paychex Partners With CPAs to Outsource Payroll, HR Functions
Before joining Paychex in October 2004, Jonathan J. Judge served as president and CEO of Crystal Decisions Inc., a leading provider of business intelligence software, and as general manager of IBM’s Personal Computing Division. He was interviewed by AICPA Editor-At-Large Rick Telberg. Q: There’s quite a debate within accounting firms
PayCycle Brings New Payroll Power to Intuit
Nora Denzel leads one of Intuit’s fastest-growing businesses, focusing on delivering easy-to-use, on-demand payroll services for small businesses. Intuit’s flagship products include Quicken, QuickBooks and TurboTax. Interviewed by AICPA Editor-At-Large Rick Telberg. Q: Why did Intuit acquire PayCycle and how does this help accounting professionals? A: Intuit recognized PayCycle as
FASB Proposes Fair Value Measurement Disclosures Update
FASB issued an exposure draft of a proposed Accounting Standards Update that would affect all entities that are required to make disclosures about recurring and nonrecurring fair value measurements. The board says the proposal would improve Fair Value Measurements and Disclosures—Overall Subtopic (Subtopic 820-10) of the FASB Accounting Standards Codification.
AICPA Calls for Civil Tax Penalty Reform
The AICPA called on Congress and the IRS and Treasury Department to reform civil tax penalties, which it said have strayed from their intended purpose of promoting voluntary compliance with tax laws. A report and cover letter signed by Alan Einhorn, chair of the AICPA’s Tax Executive Committee, were submitted
Proposed Regulatory Capital Rule Incorporates Guidance in FASB 166 and 167
The federal banking and thrift regulatory agencies are seeking comment on a proposed regulatory capital rule related to FASB’s adoption of Statement no. 166, Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140, and Statement no. 167, Amendments to FASB Interpretation No. 46(R). Beginning in 2010, these accounting
IRS Modifies Automatic Accounting Method Change Procedures
The IRS on Thursday modified the procedures for obtaining automatic consent to change an accounting method. Revenue Procedure 2009-39 amplifies, modifies and clarifies various earlier pieces of guidance that had established the general procedures for taxpayers to secure advance IRS consent to an accounting method change. Last year, the IRS
IASB Proposes Amendments to 11 IFRSs
The International Accounting Standards Board (IASB) published for public comment an exposure draft of proposed amendments to 11 IFRSs under its annual improvements project. The proposed amendments range from clarification of the measurement of noncontrolling interests in IFRS 3, Business Combinations (as revised in 2008), to changes of wording to
Features
FROM THIS MONTH'S ISSUE
AI risks CPAs should know
Are you ready for the AI revolution in accounting? This JofA Technology Q&A article explores the top risks CPAs face—from hallucinations to deepfakes—and ways to mitigate them.
From The Tax Adviser
January 31, 2026
Trust distributions in kind and the Sec. 643(e)(3) election
January 31, 2026
Effects of the OBBBA on higher education
December 31, 2025
