Tax, accounting, auditing news - Journal of Accountancy

June 10, 2019

What to say to grieving clients

Grief expert Amy Florian, CEO of consulting company Corgenius and a speaker at ENGAGE, suggests some dos and don’ts when supporting clients who have suffered a loss.

June 10, 2019

How to motivate and retain your talent

Invest in employees’ growth and development, and they’ll stay loyal to you, said ENGAGE speaker Philip Palaveev, founder of business management consulting firm The Ensemble Practice.

June 10, 2019

Ninth Circuit upholds IRS cost-sharing regulation

The Ninth Circuit Court of Appeals reversed a Tax Court decision that had held that a cost-sharing regulation that required allocation of stock-based compensation was invalid.

June 10, 2019

Tips for a smooth CECL implementation

FASB’s new current expected credit losses standard contains big implementation challenges for the financial services industry but also applies to companies in other industries.

June 10, 2019

AICPA set to be awarded ‘.cpa’ internet domain

The AICPA is in final contract talks with the internet’s global governing body to oversee a new internet domain for CPAs.

June 6, 2019

U.S. finance execs hold on to positivity

The gap narrows, but expectations are still stronger for the U.S. than the global economy, according to a quarterly survey.

June 5, 2019

ASB seeks alignment of materiality definitions

The definition of materiality used in the AICPA Professional Standards would be aligned with that of U.S. regulators under proposals issued by the AICPA Auditing Standards Board.

June 4, 2019

Changes coming to tax transcript availability

To fight identity theft, starting June 28 the IRS will no longer fax transcripts to taxpayers, tax professionals, and other third parties. And in July it will stop providing an option for mailing transcripts to third parties.

May 31, 2019

IRS issues draft of revised Form W-4 for 2020

The new draft form, which has been extensively redesigned, is intended to simplify the calculation of income tax withholding after the changes made by the law known as the Tax Cuts and Jobs Act.

May 30, 2019

Chief accountant Wesley Bricker to leave SEC

Wesley Bricker is leaving the SEC after serving as its chief accountant since 2016, the commission announced. Sagar Teotia, deputy chief accountant, will serve as acting chief accountant after Bricker departs in June.

May 30, 2019

Firms lose cloud access after Cetrom systems breach

A new breach affecting services used by CPA firms was confirmed when cloud services provider Cetrom said it suffered a malware attack that was discovered May 24.

May 30, 2019

FASB extends GAAP alternatives to not-for-profits

The new FASB standard allows not-for-profits to use alternatives on accounting for goodwill and accounting for identifiable intangible assets in a business combination.

May 28, 2019

2020 limits on HSA contributions are issued

The IRS issued its annual notice of the inflation-adjusted limits on contributions to health savings accounts. All of the limits increased from 2019 to 2020.

May 22, 2019

GASB proposes guidance for subscription-based IT arrangements

GASB proposed guidance for state and local government accounting for subscription-based information technology arrangements.

May 21, 2019

2019 inflation-adjusted vehicle depreciation limits and income inclusions issued

The IRS provided the limitations on depreciation deductions for passenger automobiles first placed in service in 2019 and the amounts of income inclusion for lessees of passenger automobiles first leased during 2019.

May 21, 2019

Proposal would enable adaptive-learning CPE self-study for CPAs

New standards proposed Monday for continuing education providers would permit CPAs to receive CPE credit for adaptive-learning programs in self-study courses.

May 20, 2019

How the CPA continuing education game is changing

New technologies have created a need for new skills and led to innovative methods for delivering professional education. Here’s how the CPA profession is evolving the way it educates its people.

May 17, 2019

Sales tax proposals threaten to ensnare CPA firms

Accountants aren’t necessarily being singled out, but rather legislative and city leaders are trying to find ways to spread tax liabilities around a broader base or meet their budget needs.

May 17, 2019

IRS corrects error in Schedule D tax calculation worksheet

The IRS notified tax software companies that it had discovered an error in the Schedule D, Capital Gains and Losses, Tax Worksheet used to calculate the tax on certain capital gains that had new rates as a result of the law known as the Tax Cuts and Jobs Act.

May 16, 2019

4 key steps for auditors in assessing technology risks

The business risks associated with new technology seem almost endless. But a new resource can help auditors, management and audit committees discharge their responsibilities associated with those risks.