Tax

What tax reform means for audit committees

The Tax Cuts and Jobs Act provides many issues for audit committee members to consider in their oversight of financial statements, external auditors and risk management.

When a tax cut is a profit hit

Companies with deferred tax assets may report surprisingly lower net income in 2017 even though they will benefit from lower income tax rates under the new tax law in 2018.

FinCEN announces filing deadline for 2017 FBARs

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued its annual reminder of the due date for filing FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).

Congress enacts tax reform

Congress enacted tax reform legislation in December that will affect all taxpayers. Changes include new tax rates, modified credits and deductions, and a host of other amendments.

Defined benefit plans in the big picture

Comprehensive financial planning can uncover when the advantages of a defined benefit plan for a small business might outweigh those of a defined contribution plan.

Line items

LB&I produces examiner’s overview of check-the-box rules ... Guidelines issued for advising private foundations on grants ... LB&I rolls out a second batch of compliance campaignS

SPONSORED REPORT

6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.

PODCAST

How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.