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The American Institute of CPAs’ Accounting and Review Services Committee has published an exposure draft of a proposed standard on procedures for attestation engagements, while its Financial Reporting Executive Committee has issued working drafts of some of its industry-specific guidance for various industries. The proposed Statement on Standards for Attestation Engagements, Selected Procedures, aims to […]
The Internal Revenue Service’s Criminal Investigation unit has reportedly been tapped by special counsel Robert Mueller’s office to help investigate financial ties between Donald Trump’s presidential campaign and Russia. According to a report Thursday in the Daily Beast, Mueller’s office has turned to the Criminal Investigation unit because of the extensive financial expertise of its […]
When it’s time to make decisions about new partner admissions, senior leadership at many small and midsized CPA firms often hears about how a particular employee might leave the firm unless they’re made partners. “If Mary doesn’t make audit partner this year, she will leave the firm,” they might say. “We can’t afford to lose […]
TV host and science educator Bill Nye has filed suit against the Walt Disney Company over the accounting for profits on his old TV series “Bill Nye the Science Guy. The lawsuit, filed last Thursday in Los Angeles Superior Court, according to Variety, accuses Disney of withholding $28 million in profits from Nye. According to […]
The Internal Revenue Service is giving some relief from penalties to partnerships that filed their 2016 tax returns too late this year. The IRS issued guidance Friday offering penalty relief to partnerships that filed Form 1065 or Form 1065-B or asked for an automatic extension by filing Form 7004. A 2015 piece of legislation, the […]
The CPA Consultants’ Alliance has launched a new series of videos aimed at addressing the key issues facing the accounting profession. “Issues and Answers: Insightful Solutions to Today’s Biggest Challenges” was created by the group as a series of roundtable discussions among its members, who are thought leaders and advisors to accounting firms across a […]
Accounting firms have finally begun to embrace the new technology, and this special report looks at the benefits – and the best way to maximize them. Register to View
The IRS is warning about possible fake charity scams emerging due to Hurricane Harvey. Criminals may look to take advantage of the outpouring of support for victims of the hurricane by impersonating charities to get money or private information from taxpayers, the agency said. Such fraudulent schemes may involve contact by telephone, social media, email […]
Victims of the severe storms, flooding, landslides and mudslides that took place beginning on July 28 in parts of West Virginia may qualify for tax relief from the IRS. Individuals who reside or have a business in the West Virginia counties of Harrison, Marion, Marshall and Wetzel may qualify. The IRS can postpone certain deadlines […]
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