January 2022

January 10, 2022

IRS to accept 2021 tax returns starting Jan. 24

The IRS announced the start date for tax season and that the due date for most individuals is April 18.

January 7, 2022

New R&D credit documentation requirements clarified

Starting Jan. 10, a Sec. 41 credit claimed on an amended return must include specific information.

January 6, 2022

What’s new for 2022 in federal taxes

A law change and some regulations take effect while an array of provisions expire.

January 6, 2022

Treasury rule provides flexibility for state and local government pandemic aid

State and local governments will have increased flexibility to pursue a wider range of uses under the State and Local Fiscal Recovery Funds program.

January 6, 2022

GASB to consider governmental going concern standards

GASB has decided to undertake a major project on accounting and financial reporting for going concern uncertainties and severe financial stress.

January 4, 2022

Single audit clarity provided related to pandemic relief programs

An addendum to the Office of Management and Budget Compliance Supplement that was issued in December provides clarity on single audit requirements related to two key federal pandemic relief programs.

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.