The IRS continued its annual series, highlighting threats to ordinary taxpayers from would-be thieves.
NEWS
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.
6 overused phrases — and smart ways to replace them
Consider how you can freshen up threadbare language to make your point.
4 tactics for effective money-laundering compliance
Guarding against money laundering is becoming increasingly challenging. These tips can help.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Senators urge 2-D barcoding of paper-filed tax returns in 2023
Fourteen GOP members of the Senate Finance Committee added their voices to National Taxpayer Advocate Erin Collins’s recent directive to the Internal Revenue Service relating to processing of paper-filed returns.
SEC proposes enhanced disclosures related to ESG
The SEC proposed amendments to rules and reporting forms to promote consistent, comparable and reliable information for investors concerning funds’ and advisers’ incorporation of environmental, social and governance factors.
IRS mostly correct on recovery rebate credits, TIGTA says
The IRS administered the recovery rebate credit correctly for all but 0.7% of returns in the 2021 filing season, the Treasury Inspector General for Tax Administration found.
CPA Exam’s top scorers earn Elijah Watt Sells Award
The award, established in 1923, recognizes outstanding performance across all four sections of the Uniform CPA Examination.
Ukraine aid eligible for leave-based donations programs
Employees may exclude from gross income the value of leave donated to their employers funding payments to relieve victims of the Russian invasion of Ukraine.
Tax equity research lacks demographic data, GAO reports
The US Government Accountability Office found disparities in the distribution of some tax items, but notes impediments to knowing taxpayers’ race, ethnicity, and sex.
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