A short-term option involves a virtual interview with IRS personnel to authenticate taxpayers’ and practitioners’ identities for online services.
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AICPA testifies to Congress on IRS service problems
In a hearing, the Senate Finance Committee heard recommendations from the AICPA’s Jan Lewis and National Taxpayer Advocate Erin Collins.
PPP, ERC can lead to sustained business for CPA firms
Firms can turn the connections built doing work related to COVID-19 programs into long-term business opportunities.
Tax pros are subject of ‘spearphishing’ attacks
Bogus emails may impersonate the IRS or tax software providers. Here’s what to watch out for.
IRS offers further K-2/K-3 relief
The new schedules for returns of passthrough entities with international items have been greeted with antipathy by practitioners. The IRS provided relief Wednesday for eligible entities for tax year 2021.
Revised voluntary disclosure form highlights cryptoassets
Full disclosure of violations, plus payment of taxes, penalties and interest may allow approved taxpayers to avoid criminal prosecution. The reporting form contains a new reporting section and instructions on virtual currency.
Why CFOs should learn to let go
Gartner research underscores the need for CFOs to be decisive in shifting investments to high-value uses.
How not-for-profits are adapting to a technological revolution
To get the most out of their technology spending not-for-profit leaders need to develop a strategy, consider cybersecurity, and recruit tech experts for the board.
IRS identifies paused taxpayer notices
While it works through its return and correspondence backlog, the IRS will not send out certain letters and notices, including for delinquent returns and payments.
SEC proposes new rules for private equity
Agency seeks comment on new requirements, including one that would mandate that registered fund advisers provide quarterly statements to investors.
Tax pros share IRS service challenge stories, solutions
The Tax Professionals United for Taxpayer Relief Coalition held an online session to examine possibilities of its four recommendations for improved IRS assistance and taxpayer relief.
TQA addresses health care accounting for items free of charge received for distribution
The AICPA issued nonauthoritative information addressing how for-profit health care business entities and nongovernmental not-for-profit health care entities may consider accounting for vaccines or other pharmaceuticals, medical supplies, or equipment received free of charge for distribution to specified patients.
IRS backs away from facial recognition
The IRS scrapped plans to require individuals to authenticate their identities with facial-recognition technology to use certain online services after the plans prompted scrutiny, including from Congress.
Proposal would amend auditing standard for compliance audits
The AICPA Auditing Standards Board is seeking comment on a proposed Statement on Auditing Standards that would update the appendix in AU-C Section 935, Compliance Audits.
AICPA calls IRS staff reassignments a ‘positive step,’ reiterates relief goals
The Service deploys an “inventory surge team” to tackle backlog while a coalition of tax professionals including the AICPA continues its call for specific relief measures.
SBA details process to appeal partial PPP loan forgiveness decisions
A recent notice from the US SBA outlines a new process for PPP borrowers to appeal partial loan forgiveness decisions made by their lender.
Federal security agencies warn of potential Russian-sponsored cyberattacks
A joint cybersecurity advisory from the Cybersecurity and Infrastructure Security Agency, the FBI, and the NSA urges businesses and other organizations, to step up their cybersecurity mitigation and detection efforts.
Clarified peer review standards approved by Peer Review Board
The AICPA Peer Review Board approved guidance that is designed to make peer review guidance for CPA firms and peer reviewers easier to read, understand and apply.
Single audit guidance for 7 programs provided in OMB’s Addendum 2
The OMB issued a second addendum to its 2021 Compliance Supplement for single audits.
Avoid these 8 PowerPoint mistakes
PowerPoint blunders can make your presentations painful to sit through. Try these tips to make your talks clearer, more concise and more memorable.
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