April 2015

April 13, 2015

IRS grants penalty relief to taxpayers who received incorrect health care forms

The incorrect forms generally included the monthly premium amount of the second-lowest-cost Silver plan for 2015 instead of for 2014.

April 10, 2015

Wife of anti-tax author sentenced to prison

Doreen Hendrickson, wife of tax protester author Peter Hendrickson, who wrote the antitax book Cracking the Code, has been sentenced to 18 months in prison for criminal contempt after failing to file amended tax returns as ordered by a court and for filing a false return.

April 10, 2015

Revised IAASB standard increases auditors’ involvement with “other information”

Revisions issued by the IAASB require auditors to increase their involvement with information that is included in entities’ annual reports but is outside audited financial statements.

April 9, 2015

How do Americans define personal financial prosperity?

Although homeownership often is depicted as the American Dream, a new AICPA survey shows that being able to afford a comfortable retirement is considered the best sign of financial success.

April 8, 2015

Americans fear running out of money in retirement

More than half of CPA financial planners say their clients’ biggest concern about retirement planning is running out of money, according to a new AICPA survey.

April 7, 2015

FASB issues changes regarding presentation of debt issuance

The standard requires that debt issuance costs not be classified as a deferred charge or deferred credit.

April 2, 2015

How revenue recognition divergence would affect preparers

Convergence between U.S. GAAP and IFRS may diminish as the FASB and the IASB pursue different proposed changes in response to implementation concerns.

April 1, 2015

FASB agrees to propose revenue recognition standard delay

FASB voted to propose a one-year delay in the effective date of the new, converged revenue recognition standard.

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.