January 2024

January 9, 2024

GASB guidance expands risk-related reporting requirements

A new statement requires governments to disclose concentrations and constraints that could make them vulnerable to a substantial impact.

January 9, 2024

IRS to begin accepting and processing 2023 tax returns on Jan. 29

IRS commissioner Danny Werfel promised “marked improvement” for the upcoming tax season, when almost 129 million individual tax returns are expected to be filed.

January 9, 2024

CFOs’ optimism about the economy remains low

Less than half of finance leaders in North America rate current economic conditions as “good or very good,” according to Deloitte’s 4Q23 North American CFO Signals survey, and most have a negative outlook regarding this year.

January 8, 2024

CPAs at a crossroads: Real approaches to artificial intelligence

A former firm partner with expertise in ChatGPT and other AI tools shares why CPAs can’t afford to sit on the sideline and shares how to be responsive to your clients, your team at work, or both.

January 4, 2024

IRS collects record-setting $4.9 trillion in tax revenue in FY 2022

The Treasury Inspector General for Tax Administration said in its annual report that the total tax revenue collected from return filings was about $790 billion more than in FY 2021.

January 3, 2024

Draft form, instructions posted for corporate AMT

The IRS instructions say that all corporations must file Form 4626, unless they fall under one of four exclusions, to determine whether they are an applicable corporation, and, if so, to calculate the tax.

January 3, 2024

A new fiduciary rule: What CPA financial planners need to know

Many financial advisers who offer retirement investment advice would be subject to new ethical requirements under recently proposed regulations, a U.S. Department of Labor official explains in this Q&A.

FROM THIS MONTH'S ISSUE

Build reusable Skills in Anthropic’s Claude AI

Instead of rewriting prompts each time, CPAs can turn routine tasks into reusable AI Skills. This Technology Q&A walks through how to build Claude Skills that process files, ask setup questions, and export clean Excel outputs.