Tax, accounting, auditing news - Journal of Accountancy

June 8, 2022

IRS challenges emerge as top concern for firms

Challenges when working with the IRS emerged as the top issue for firms with 10 or fewer professionals, according to the 2022 AICPA Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey.

June 7, 2022

‘OIC mills’ and ‘ghost’ preparers in ‘Dirty Dozen’

Sketchy operations target tax debtors for offers in compromise, and preparers who remain anonymous on returns generally have something to hide, the IRS says in its ongoing series.

June 6, 2022

More ‘Dirty Dozen’: Tax refund theft and fake charity appeals

The IRS continued its annual series, highlighting threats to ordinary taxpayers from would-be thieves.

June 6, 2022

Duke’s Coach K shares stories of leadership and change at ENGAGE 2022

The coach who led teams to five collegiate championships and three Olympic gold medals explains an early interest in accounting and what he learned from Michael Jordan.

June 6, 2022

6 overused phrases — and smart ways to replace them

Consider how you can freshen up threadbare language to make your point.

June 6, 2022

4 tactics for effective money-laundering compliance

Guarding against money laundering is becoming increasingly challenging. These tips can help.

June 3, 2022

SEC announces updates to electronic filing requirements

The SEC said it has adopted amendments to require the electronic filing or submission of certain documents that currently are permitted to be filed or submitted in paper format.

June 3, 2022

PEEC proposals update compliance audit definitions and interpretations

The proposed ethics updates include new or revised definitions and interpretations related to independence during compliance audit engagements.

June 2, 2022

Hiring family members in a small business

Employing children and other relatives in a family business can yield tax advantages, but there are potential drawbacks to consider.

June 2, 2022

Is a career coach for you?

Many professionals are contemplating changing their employment situation right now. Working with a career coach can help you achieve clarity about what next steps you want to take.

June 2, 2022

Most US finance leaders see recession risk in year ahead

The CPA Outlook Index, an equally weighted, nine-component measure of sentiment, remained in positive territory, falling from 73 points to 67 points out of 100, but it was the fourth consecutive quarterly decline in economic outlook.

June 1, 2022

Abusive CRATs and Maltese IRAs among ‘Dirty Dozen’ tax scams

The first installment of the Internal Revenue Service’s annual feature focuses on four abusive transactions and arrangements.

May 27, 2022

Senators request details on IRS info return destruction

The inquiry posed seven specific questions to the IRS concerning the decision, how it was arrived at, its potential effects and whether the Service has destroyed such documents before processing them at any other time.

May 27, 2022

FASB to explore rules on accounting for ESG credits

The FASB said last week that it will explore new rules regarding the accounting for financial instruments with ESG-linked features and regulatory credits.

May 26, 2022

How the path to partner has widened for women, minorities

Diversity and inclusion is rising in CPA firm partner ranks and new accounting graduate hires, according to AICPA research.

May 26, 2022

A needed push into remote auditing

The pandemic brought about a surge in remote auditing, a practice which has both pros and cons. CPAs at small firms discuss their experiences with remote audits and what they plan to do in the future, and share tips for making remote audits run more smoothly.

May 26, 2022