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Latest News Cont.
- Financial Accounting Foundation Names Russell G. Golden Chairman of FASB
- Norwalk, CT (4/23) The appointment was made by the Board of Trustees of the Financial Accounting Foundation (FAF), which oversees the FASB and its sister organization, the Governmental Accounting Standards Board. Mr. Golden will succeed current...
- Plain-English Accounting 2nd Qtr Webinar
- MONTGOMERY (4/17) Earn 2-hours of accounting and auditing CPE credits at your desktop on Tuesday, May 7, 2013 [1:00 – 3:00 Central Time]. The 2013 second quarter webinar will be presented by Tom Ratcliffe.
- Status of Federal and State Acknowledgments
- MONTGOMERY (4/17) Due to the significant increase in federal and state submissions transmitted on April 15th, the length of time to create federal acknowledgments and make them available for retrieval is taking longer than expected. The IRS is...
- IRS Penalty Relief Available to Some Storm Victims Unable to File on Time
- WASHINGTON (4/15) The IRS announced today that it will provide penalty relief to anyone unable to file on time due to severe storms in parts of the South and Midwest over the past few days.
Power outages and transportation problems are, in some...
- 2012 Filing Season Penalty Abatement Issue
- AICPA (4/15) the IRS issued Notice 2013-24 that explains how IRS will automatically waive penalties should an insufficient amount of tax have been paid with an extension.
- Last Minute Tax Issues - Weather Issues
- AICPA (4/15)
April storms have become the norm, and this year is no exception. Ed Karl, AICPA VP of Taxation, has talked to the IRS. The IRS is in contact with FEMA, and is following the storm activity closely, along with its effects on...
- New FASB discontinued operations proposal aims for relevance
- JofA (4/3) Investors told FASB that current GAAP calls too often for disposals of assets to be presented as discontinued operations.
FASB has responded to those concerns by issuing a proposal that would redefine “discontinued operation” in...
- Nominations being accepted for the 2013 AICPA Outstanding CPA in Government Awards
- AICPA (4/2) For 2013, the AICPA Outstanding CPA in Government Award program has been modified to include an online nomination process and to recognize contemporaneous contributions of CPAs in government in addition to those made throughout the...
- 6 Things Not-For-Profits Need to Know about Non-Cash Contributions
- AICPA Insights (4/2) Not-for-profits continue to encounter unique measurement challenges for gifts in kind. There are a variety of approaches available for not-for-profits to value GIK, which can result in large disparities between handlings by...
- IRS extends identity theft law enforcement assistance program
- JofA (4/2) Under the program, state and local law enforcement officials with evidence of identity theft involving fraudulently filed tax returns obtain permission from the victims to disclose their tax return information. The IRS will assist law...
- Peer reviewers offer advice on how to avoid common mistakes
- AICPA Insights (4/1) A failure to assess risk at the assertion level, failure to understand the internal control environment and a failure to complete or document an IT risk assessment were the most common areas of noncompliance identified...
- National Meet the Firms Week
- Have you signed up for National Meet the Firms Week yet? We have partnered with CollegeFrog to bring you National Meet the Firms Week, which has helped hundreds of accounting firms meet thousands of accounting students. It gives accounting ...
- Updated: Earnings and Profits Guide
- AICPA (3/7) Updated by AICPA Corporations and Shareholders Tax Resource Panel to reflect the many tax rule changes since its original publication. An overview of the rules that govern E&P and corporate distributions, helps practitioners identify...
- IRS now accepting all 2012 forms
- JofA (3/5) The IRS on Monday announced that it finished updating its processing systems and is now accepting all returns that include the 29 forms that were delayed by the late passage of the American Taxpayer Relief Act of 2012, P.L....
- 2013 Automobile Depreciation Limits Released
- IRS (2/26) For passenger automobiles (other than trucks or vans) placed in service during calendar year 2013 to which 50% first-year bonus depreciation applies, the depreciation limit under Sec. 280F(d)(7) is $11,160 for the first tax year....