The IRS is proposing to charge a variety of fees, based on whether the taxpayer uses the online application process and/or pays by direct debit.
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NEWS
Broker-dealer audit concerns remain high for PCAOB
PCAOB inspectors found deficiencies in 77% of the audits of broker-dealers they reviewed in 2015.
FASB modifies not-for-profit accounting rules
FASB’s new accounting standard is designed to help not-for-profits tell their story through their financial statements.
AICPA proposes modifying peer review reports, firm representation letters
Peer review reports would be modified to clearly indicate if a single audit was selected under a proposal issued by the AICPA Peer Review Board.
CPE standards update accommodates new forms of learning
CPAs will be able to receive credit for continuing professional education material delivered through nano-learning and blended learning instruction.
FASB proposes concepts for financial statement presentation
FASB issued a proposal that would establish a set of concepts for how recognized items should be presented in a financial statement.
More companies funding credentials for employees
Rising demand for accounting and finance professionals with new skills is making it more likely that companies pay their employees to gain and maintain professional certifications.
U.S. accounting salaries continue to escalate
Accounting and finance salaries in the United States are projected to rise 2.8% in 2017, according to a salary guide published by recruiting firm Accounting Principals.
How not-for-profits can stay strong amid uncertainty
Finance leaders offer suggestions for staying strong in these challenging times.
IRS issues guidance on PATH Act ITIN renewals
Individuals whose individual taxpayer identification numbers (ITINs) will expire this year under new Code provisions may renew them starting in October.
IRS issues temporary regulations on early elections of new partnership audit procedures
The IRS issued rules regarding the time, manner, and form for partnerships to make the election to apply the recently enacted unified partnership audit rules for certain years before Jan. 1, 2018.
What should FASB work on next?
FASB is seeking feedback on which financial reporting and accounting issues it should add to its agenda for potential standard setting.
FASB proposes clarifying consolidation guidance for not-for-profits
FASB issued a proposal that is designed to clarify when a not-for-profit entity that is a general partner should consolidate a for-profit limited partnership or similar entity.
Travel rewards can lead to credit woes for many Americans
Though 58% of Americans say using credit cards to earn travel rewards makes sense, just 15% actually use these rewards to pay for all or part of a trip, an AICPA survey found.
Second Circuit holds taxpayer not subject to IRS summons
The court held that the taxpayer was protected by the Fifth Amendment privilege against self-incrimination.
Proposed regs. govern reporting and claiming qualified tuition and related expenses
The IRS is proposing to amend the rules governing eligibility to claim a deduction or credit for eligible education expenses to conform them to recent legislative changes.
Telecom revenue recognition issues explored in FinREC drafts
The AICPA Financial Reporting Executive Committee (FinREC) has issued two new working drafts related to implementation issues for telecommunications entities regarding the new revenue recognition standard.
Americans’ financial outlook reaches 9-year high despite global economic turmoil
The financial outlook of the average American has reached its highest level in nine years, according the quarterly AICPA Personal Financial Satisfaction Index (PFSi).
FASB proposes beefing up employee benefit plan master trust disclosures
FASB issued a proposal intended to clarify and strengthen financial statement disclosure requirements for an employee benefit plan’s interest in a master trust.
FASB proposes changing income tax disclosure requirements
FASB issued a proposal that would modify disclosures about income taxes that organizations are required to report on their financial statements.
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From The Tax Adviser
July 31, 2026
Current developments in S corporations
July 31, 2026
