The importance of a pre-marriage ‘money date’
A conversation before marriage about the state of each partner’s finances and their thoughts about money can have long-term benefits for the couple’s financial goals and relationship. Read More
Don’t wait on action on tax bill to file returns, IRS tells taxpayers
With tax season opened as of Monday, Commissioner Danny Werfel said the IRS will handle any necessary changes if a bill passes after returns are filed. Read More
IRS to hold ERC education sessions for tax pros in February
The sessions, which will be hosted by IRS Criminal investigation special agents at locations nationwide, are aimed at tax professionals who claimed ERCs for clients on previous years’ tax returns. Read More
Digital asset question added to more forms for 2023 tax returns
IRS adds a question about digital assets to forms covering partnerships, corporations, S corporations, and estates and trusts. Read More
BOI reporting and unauthorized disclosure penalties increased
The beneficial ownership information rules and the penalties for violating them just went into effect last month. Now the penalties have increased. Read More
What top accounting academics suggest to attract talent
With enrollment in accounting programs on the decline, three academic leaders offer suggestions for improvement. Read More
From CFO to CEO: An increasingly popular path
The percentage of open CEO seats filled by CFOs at large companies rose to a record level in 2023, as did the percentage of women and racially and ethnically diverse leaders. Read More
Simpler IRS notices are coming
The IRS’s new Simple Notice Initiative follows a pilot that demonstrated how redesigned notices can improve taxpayer experience while reducing call volume. Read More
FASAB releases annual handbook
The Federal Accounting Standards Advisory Board published the latest version of accounting standards for the U.S. government. Read More
As excitement about Gen AI grows, can companies keep up?
The majority of Americans are excited about the role Gen AI can play in their everyday lives, but a global survey finds that the majority of executives aren’t thrilled with their companies’ level of commitment to the rapidly growing technology. Read More
Reporting of digital assets as cash delayed until IRS issues regs.
In an announcement posted Tuesday, until regulations are issued, the IRS said businesses do not have to include digital assets in determining whether cash received in a single transaction is over the $10,000 reporting threshold. Read More
Scope 3 reporting: Where things stand with standard-setters
While the SEC weighs greenhouse gas emissions reporting standards, key players home and abroad weighed in on expectations for disclosures during a recent AICPA webcast. Read More
