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Form 1099-K frequently asked questions revised

Almost 50 new or updated frequently asked questions for the IRS’s Form 1099-K, Payment Card and Third Party Network Transactions, published Tuesday, include guidance on common situations, along with more clarity for the payment card industry about which organizations should send Forms 1099-K.

Auto depreciation limitations increase

The IRS issued the 2024 depreciation limitations for passenger automobiles, including those for which bonus depreciation is applied.

AICPA member insurer clarifies coverage for BOI work by accountants

CNA, which has policies with 25,000 AICPA member accounting firms, said in a statement last week that its professional liability policies generally will cover work services associated with the Corporate Transparency Act, which includes rules for BOI reporting.

Finance leaders have trust issues with their data

Almost 40% of CFOs in a global survey do not completely trust the accuracy of their organization’s financial data, and trust is even lower for finance leaders who are closer to the numbers.

The importance of a pre-marriage ‘money date’

A conversation before marriage about the state of each partner’s finances and their thoughts about money can have long-term benefits for the couple’s financial goals and relationship.

From CFO to CEO: An increasingly popular path

The percentage of open CEO seats filled by CFOs at large companies rose to a record level in 2023, as did the percentage of women and racially and ethnically diverse leaders.

Simpler IRS notices are coming

The IRS’s new Simple Notice Initiative follows a pilot that demonstrated how redesigned notices can improve taxpayer experience while reducing call volume.

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Data governance: How finance builds trust in data

Learn how finance can use data governance to improve data quality, strengthen internal controls, and build trust in business data.