FASB seeks comments on newly proposed interim reporting guidance
The guidance is intended to improve and clarify current guidance as opposed to fundamentally changing the nature of guidance in FASB ASC Topic 270, Interim Reporting. Read More
AICPA to Congress: Delay needed in BOI reporting deadline
Without a delay, “millions of small business owners become accidentally and unknowingly delinquent in their compliance,” reads the letter, signed by CEO Barry Melancon, CPA, CGMA. Read More
Employers focusing on starting salaries and workload to ease pipeline pain
Accounting graduates are seeing higher initial pay, and a majority of large firms plan to address workload issues in the next six months. These trends are welcomed, but more is needed, writes Sue Coffey, CPA, CGMA, CEO–Public Accounting for the Association of International Certified Professional [...]
Taxpayer advocate: Unprocessed ERC claims could total 1 million at year end
National Taxpayer Advocate Erin Collins told the AICPA & CIMA National Tax Conference that the number of unprocessed employee retention credit claims will grow before the final filing deadline in April. Read More
Financial planners and caregiving: Helping clients manage the challenges
Planning for caregiving involves immediate and future financial implications along with tax considerations and documentation. Preparing for eventual life needs provides clients and their caregivers emotional support along with clear direction about the financial possibilities. Read More
CRFB leader: Tax policy may not be a Trump administration high priority
The head of the nonpartisan Committee for a Responsible Federal Budget told the AICPA & CIMA National Tax Conference that extending the Tax Cuts and Jobs Act would add $5 trillion to the national debt. Read More
BOI update: 6.5 million of 32 million reports filed so far
FinCEN official says the reports “track more closely” with businesses created in 2024, which have a tighter deadline to file than businesses created earlier. Read More
A new top 10 firm? Two top 15 firms band together
CBIZ completed its acquisition of Marcum, a deal that creates a team of 10,000-plus and revenue that could land CBIZ in the top seven. Read More
AICPA board approves update to peer review standards
The AICPA Peer Review Board approved changes that align with new quality management standards for firms’ accounting and auditing practices. Read More
Final regs. modernize process for sale of taxpayers’ property
The regulations under Sec. 6335, which had not changed substantially since they were first issued in 1954, did not reflect modern electronic methods of submitting bids and accepting payment from bidders. Read More
FASB sets new reporting standards for disclosure of expenses
FASB published an Accounting Standards Update requiring public companies to disclose additional information about certain expenses in the notes to financial statements. Read More
Inflation adjustments to retirement account limits issued for 2024
The IRS announced inflation-adjusted limits on benefits and contributions for various retirement accounts on Friday, including maximum contribution amounts for 401(k) plans and traditional and Roth IRAs. Read More
