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Latest News Cont.
- COSO Releases Updated Internal Control Framework
- AICPA (5/17) The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has released Internal Control–Integrated Framework 2013. COSO’s popular original internal control framework, released in 1992, was accepted by the SEC as a...
- State and Local Tax Alert: Alabama DOR Issues Controversial Local Nexus Regulation
- BRADLEY ARANT (5/15) The Alabama Department of Revenue has issued a proposed regulation that will dramatically change the rules of nexus with respect to intra-state sales of goods and products, repealing a nearly 40 year old regulation that has...
- Jeff Patterson: The Alabama Taxpayers' Newsletter
- MONTGOMERY (5/15)
ADOR Questions Partnerships Regarding Add-Back Statute, LLC Owes Income Tax For Failing To File Composite Return, Did Obamacare Tax Violate Our Constitution’s “Origination” Clause? Legal Constraints On Private Auditing Are...
- Revised AICPA Code of Professional Conduct Exposed for Comment
- AICPA (4/26) CPAs may wish to comment on an exposure draft of a revised AICPA Code of Professional Conduct, which the AICPA Professional Ethics Executive Committee released on Apr. 15. Comments are due by Aug. 15. The code has been restructured...
- The AICPA Auditing Standards Board has issued the final exposure draft as part of the clarity project.
- AICPA (4/26) All other standards are in effect for 2012 year-end audits.
- 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...