April 2022

April 13, 2022

Letters from IRS to warn taxpayers about possible QOF actions needed

The IRS is sending letters to taxpayers who may need to take additional actions related to qualified opportunity funds .

April 12, 2022

Acute IRS challenges had chronic origins, GAO reports

The US Government Accountability Office draws lessons for the IRS in handling taxpayer return errors, processing those returns more timely and serving taxpayers’ needs.

April 8, 2022

NTA calls for more time to contest denial of refund or credit claim

National Taxpayer Advocate Erin Collins recommended a temporary postponement of the two-year time limit for taxpayers to file a lawsuit.

April 8, 2022

IRS commissioner to senators: ‘Our efforts are working’

Charles Rettig briefs members of the Senate Finance Committee on tax filing season and the road ahead.

April 6, 2022

CPA firms show progress in diversity amid pipeline challenges

The AICPA’s 2021 Trends report provides information on the status of education, hiring, leadership and diversity in the accounting profession.

April 5, 2022

IRS eases application process for US residency certification

New procedures will facilitate residency certification where the Internal Revenue Service has not yet processed the applicant’s tax return.

April 5, 2022

Proposed regulations revise premium tax credit’s affordability test

The existing benchmark of self-only coverage “unduly weakens” the purpose of the Affordable Care Act, the IRS and Treasury say, noting a presidential executive order to strengthen and protect the act.

April 4, 2022

How to fix a broken supply chain

Fueled by increased demand and exacerbated by worker and equipment shortages, the global supply chain has been in a chaotic state for over two years.

April 1, 2022

How the war in Ukraine affects auditors’ responsibilities

Economic conditions and the environment many companies face have changed substantially as a result of Russia’s invasion of Ukraine.

April 1, 2022

Climate change: What the SEC proposal means for companies, auditors

The SEC’s recently issued climate change disclosure proposal would require companies to embrace a comprehensive, sophisticated approach to climate reporting.

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.