Quiz: Test your knowledge of the new QM standards
How well do you know the new quality management standards for firms that perform audit and accounting engagements? Find out with this quiz. Read More
COVID-19 changes allowing e-signatures made permanent
A temporary COVID-19 change to allow e-signatures on some forms, documents, and returns has been made permanent in the Internal Revenue Manual. The AICPA had advocated for making this change to the e-signature rules permanent. Read More
Joshua Lance: Remembering a bright light lost
The 40-year-old founder of a virtual CPA firm, who passed away Saturday, made a real difference in the accounting profession and in the lives of those he touched. Read More
Business model transformation: ‘Single-best decision I’ve made’
A small-firm owner explains how the decision to cull her client base and change her billing structure netted positive outcomes on a level she couldn’t imagine. Read More
IRS emphasizes strides as it presses to keep funding
Commissioner Danny Werfel focused on IRS efforts to get wealthy corporations and high-income individuals to pay taxes they owe as he made his case for the Service to keep both its annual appropriations and funding from the Inflation Reduction Act. Read More
Budgets for salary increases rise at historic rates
The average salary increase budget among U.S. companies polled in a long-running annual survey rose 4.4%, the greatest increase observed by The Conference Board since 2021. Read More
‘As if they were never filed’: IRS outlines steps to withdraw ERC claims
The withdrawal program is one step that the IRS is taking to help small businesses that may have filed an ineligible while also cracking down on unscrupulous promoters. Read More
13 states will participate in IRS Direct File pilot
The pilot program for the 2024 filing season will let individuals file returns directly with the IRS, with strict limits on eligibility, covering only taxpayers with relatively simple returns. Read More
Projected tax gap jumps to $688 billion for tax year 2021
The IRS said the increase in the projected tax gap is due to growth projected increases in nonfiling and underreporting of individual income tax, along with underreporting of self-employment tax. Read More
SEC addresses securities transparency; PCAOB addresses audit concerns
The SEC adopts several rules and amendments expanding and expediting the sharing of information; the PCAOB shares advice with auditors related to issues with engagement quality reviews. Read More
IRS announces relief for taxpayers affected by attacks in Israel
Qualifying individual and businesses have until Oct. 7, 2024, to file certain federal returns, make tax payments, and perform other time-sensitive, tax-related actions, according to an IRS notice. Read More
IRS to modernize regs. for tax sales of seized property
Proposed regulations would update existing procedures to reflect online and other electronic forms of bidding and payment. Read More
