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The Maryland Association of CPAs announced on Friday that four female leaders have been named their 2018 “Women to Watch.” Launched by the American Institute of CPAs in 2014, the awards recognize experienced and rising women in the profession who have exhibited successful leadership over the last year. “We are incredibly proud of this year’s […]
The Internal Revenue Service is allowing people to continue to deduct employer payments or reimbursements for employee moving expenses, as long as they happened before this year, although the Tax Cuts and Jobs Act will change that for this year and going forward. The IRS said Friday that employer payments or reimbursements in 2018 for […]
FloQast, a provider of close management software, is eyeing the problems with the new revenue recognition standard, especially for privately held technology companies like itself. “We just got done restating our revenue recognition within the last three weeks,” said FloQast CEO Mike Whitmire during a meeting last week at Accounting Today’s offices. “We got through […]
Investors with holdings in Alternative Minimum Tax-free funds saw positive returns over the past five years. Now, however, changes under the Tax Cuts and Jobs Act are expected to put a damper on those figures. With the enactment of the TCJA, the income threshold for AMT eligibility is expected to reach a smaller pool of […]
The Institute of Internal Auditors and the International Federation of Accountants have released a new report on how auditors and accountants can help with corporate governance strategies. The report, “United, Connected and Aligned – How the Distinct Roles of Internal Audit and the Finance Function Drive Good Governance,” provides advice from 11 governance experts and […]
Boomer Consulting has joined forces with the Business Learning Institute, a strategic learning partner and talent management consultancy, to develop the Anticipatory Accelerator, a two-day workshop to help accounting firms identify client opportunities. The Anticipatory Accelerator will help accountants use strategic foresight to identify trends and related client service opportunities. “In a world of exponential […]
Carl Herbein, founder of Reading, Pennsylvania-based Herbein Co., died Sept. 16. He was 71. A native of the Oley Valley in Pennsylvania, Herbein began his accounting career at Ernst Young, spending five years there after graduating from Elizabethtown College with a BS in accounting in 1968. He founded his own firm in 1972, and grew […]
Photo: AICPA With taxpayers unsure how to handle their 2017 tax obligations, the American Institute of CPAs is asking the Treasury and the Internal Revenue Service for immediate guidance on Code Section 965 transition tax reporting. As part of the Tax Cuts and Jobs Act, the Sec. 965 transition tax requires U.S. shareholders, including individuals, […]
The Securities and Exchange Commission announced a variety of regulatory relief and assistance for a range of constituents affected by Hurricane Florence, including allowing auditors to help clients reconstruct lost records. Noting that company records may have been lost, damaged or destroyed by the hurricane, the commission said in its order that it understands that, […]
Even as cleanup in the Carolinas begins after Hurricane Florence, the IRS warned that scammers may well try to take advantage of taxpayers who want to help victims of major disasters. Schemes normally start with unsolicited contact by telephone, social media, e-mail or in-person. Some impersonate charities to get money or private information from would-be […]
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