Quality management standards: How to identify risks and design responses
An expert suggests ways to get started implementing the new and very different risk-based standards. Read More
Commissioner: We are progressing toward a user-friendly IRS
IRS Commissioner Danny Werfel said the Service’s transformation is in full swing, thanks to new infusion of cash that he says needs to keep coming. Read More
5 years before and 5 years after retirement: 5 steps to take
Three accomplished personal financial planners explain how to enrich clients’ lives in the final years of employment and the first years of retirement and beyond. Read More
How the IRS can avoid tax deadline confusion in disaster areas
The national taxpayer advocate recommended changes that range from one simple one the IRS can handle on its own to congressional action. Read More
SEC approves new rules for money-market funds
The SEC adopted amendments to certain rules that govern money market funds under the Investment Company Act of 1940, which are designed to improve the resilience and transparency of money market funds. Read More
Prop. regs. clarify tax treatment of certain health insurance payments
New proposed regulations clarify that accident or health insurance payments are not excludable from an employee’s income where the payments are made without regard to amount of medical expenses incurred by the employee under Sec. 213(d) and the premiums or contributions for coverage are paid [...]
Financial planning aspects of 401(k) rollovers
A variety of planning considerations affect the decision whether to leave funds in an old employer retirement plan, roll them to a new employer plan, or roll them to an IRA. Read More
4 AICPA & CIMA leaders discuss global sustainability standards
Leaders with their finger on the pulse of sustainability reporting see an opportunity for accountants to create value. They also see that challenges such as interoperability and capacity building will need to be addressed. Read More
GASB provides guidance on application of standards
GASB has issued implementation guidance in the form of questions and answers, that is intended to clarify a series of the board’s pronouncements. Read More
Writing advanced Excel macros with ChatGPT-4
For a fee, the AI tool offers more computing power to help automate repetitive tasks such as cleaning data. Read More
Study: Deterrence a major factor in bringing in more money from IRS audits
The paper by researchers at Harvard University, the University of Sydney, and Treasury finds that an additional $1 spent on marginal audits of top earners can get a return of $12 in revenue. Read More
Stock repurchase excise tax reporting and payment delayed by IRS
The IRS says covered corporations will not have to report or pay the new 1% stock repurchase excise tax until it issues forthcoming regulations. Read More
