2021 - Page 9 of 19 - Journal of Accountancy

June 28, 2021

Supreme Court declines to take up remote worker taxation case

The US Supreme Court declined to allow New Hampshire to sue Massachusetts over a pandemic-related regulation that allows Massachusetts to continue to collect state income tax from remote workers who normally work in Massachusetts.

June 28, 2021

IRS warns of pandemic-related tax scams in ‘Dirty Dozen’ for 2021

Hijacking of economic impact payments and unemployment checks are spotlighted in the IRS’s annual alert, which warns taxpayers of the most prevalent scams and schemes the Service has identified.

June 28, 2021

Fighting fraud with business continuity planning

Preparation may be the best defense against fraud when disaster strikes.

June 25, 2021

SBA may be dropping PPP Loan Necessity Questionnaire requirement

Indications are that businesses with Paycheck Protection Program loans of $2 million or more will not have to submit a Loan Necessity Questionnaire when applying for forgiveness of their loans.

June 24, 2021

Tax consequences of nonfungible tokens (NFTs)

These new blockchain-created digital assets may be treated as intangibles for tax purposes, but a dearth of guidance leaves questions.

June 24, 2021

FASB asks for feedback on standard-setting agenda

FASB is seeking comment on what the board’s future standard-setting priorities should be. Stakeholders are asked to provide feedback by Sept. 22 to help FASB identify areas where there’s a pervasive need to improve generally accepted accounting principles (GAAP).

June 24, 2021

Cultivate good online shopping habits

An AICPA survey shows two in five Americans struggle to stick to their monthly budget due to online shopping.

June 24, 2021

Business travel resuming for many after pandemic-related cuts

More than one-third of finance leaders say their organizations are resuming customary business travel or plan to do so by the end of the year.

June 23, 2021

ESG assurance: An emerging opportunity for CPAs

As momentum grows for environmental, social and governance disclosures, ESG assurance opportunities are expected to present themselves for CPAs, who currently are performing a small fraction of these engagements in the US.

June 22, 2021

Child tax credit: New portal for opting out of advance payments

A new IRS online portal lets taxpayers unenroll from receiving advance payments of the 2021 child tax credit.

June 21, 2021

Professional services tax proposals discussed in multiple states

Proposed legislation in several places sought to tax accounting services but was opposed by the AICPA and others.

June 21, 2021

CPAs and the historic Paycheck Protection Program

It’s a good time to reflect on the CPA profession’s role in making this historic business relief program a success and to consider what comes next, especially in four key areas.

June 18, 2021

Coming together to advance Black CPAs

Leaders whose organizations focus on promoting the advancement of Black CPAs, both on their own and as a part of the Black CPA Centennial, offer insights on where the profession stands and where it needs to go.

June 17, 2021

Supreme Court lets health care law stand

The US Supreme Court held that Texas and several other states lacked standing to sue over the constitutionality of the Sec. 5000A mandate that requires individuals to obtain minimum essential health coverage. The decision leaves the Affordable Care Act in place.

June 16, 2021

FASB proposes discount rate relief for nonpublic lessees

FASB proposed guidance that would permit nonpublic lessees to use a risk-free rate as the discount rate for leases by class of underlying asset rather than at the entitywide level.

June 15, 2021

AICPA, NASBA launch CPA Evolution Model Curriculum

The AICPA and the National Association of State Boards of Accountancy (NASBA) have launched the CPA Evolution Model Curriculum (CPAEMC), a recommended blueprint for an accounting program designed to help educators prepare graduates for the changing demands of the CPA profession.

June 15, 2021

Top tax cases practitioners should know

A session at AICPA & CIMA ENGAGE 2021 shows how bedrock tax cases can help practitioners understand and resolve common issues that arise in practice.

June 14, 2021

Online sign-up now available for advance child tax credit payments

The IRS opened an online site that allows taxpayers who are not required to file a 2019 or 2020 individual income tax return to sign up to receive advance child tax credit (advance CTC) payments, which will begin July 15.

June 14, 2021

AICPA, CAQ support SEC’s exploration of climate change disclosures

The AICPA and the Center for Audit Quality sent letters to the SEC supporting its exploration of disclosures related to climate change and environmental, social and governance issues.

June 14, 2021

Delegation is the key to Sir Richard Branson’s success

Entrepreneur Sir Richard Branson, founder of Virgin Group, speaking at an exclusive online event prior to AICPA & CIMA ENGAGE 2021, gave listeners advice for hiring and managing the right people.

FROM THIS MONTH'S ISSUE

Flip out with the latest Tech Q&A

The September Technology Q&A column shows how to create dynamic to-do lists with Excel's checkboxes and also how to set up multifactor authentication texts that don't rely on phones. Flip through both items and view a video walkthrough in our digital format.