2015 - Page 17 of 17 - Journal of Accountancy

January 13, 2015

Budget cuts may force IRS furlough days again

The IRS warned its employees that budget cuts may require it to furlough employees for two days sometime during this fiscal year.

January 13, 2015

No more extraordinary items: FASB simplifies GAAP

A new standard issued by FASB is designed to save time and reduce costs for preparers by eliminating the concept of extraordinary items from GAAP.

January 12, 2015

AICPA provides feedback on tax reform proposals

The AICPA urged Rep. Paul Ryan, the new chair of the House Ways and Means Committee, to follow the AICPA’s principles of good tax policy to guide tax reform.

January 9, 2015

PCAOB to seek comments on going concern

The project is responding to new FASB requirements for management’s evaluation of going concern.

January 8, 2015

Government to reach out, provide resources to ease health care tax filing burden

The government announced today that, in the next few weeks, it will introduce “consumer-friendly” resources for taxpayers to use to comply with the new rules.

January 8, 2015

IRS issues procedures for reinstated transit benefits parity

As part of the Tax Increase Prevention Act of 2014, Congress retroactively reinstated the parity between transportation benefits for parking and for transit passes and vanpools to the beginning of 2014.

January 5, 2015

IRS: Tax season to start on time

The IRS announced that it will begin accepting e-filed and paper tax returns on time this filing season. The late passage of tax extender legislation had threatened to delay the start of tax season.