News

Final Rules Govern U.S. Country-by-Country Reporting

The IRS issued final regulations requiring the ultimate parent entity of a multinational enterprise group with revenue of $850 million or more in the preceding accounting period to file Form 8975, Country-by-Country Report.

IRS Issues Sec. 409A Proposed Regulations

The IRS issued proposed regulations under Sec. 409A, which provides that if certain requirements are not met, amounts deferred under a nonqualified deferred compensation plan are currently includible in gross income.

FAQs Explain the Wrongful Incarceration Exclusion

A new law allows taxpayers to exclude from income money they receive to compensate them for being wrongfully incarcerated and to claim refunds for earlier tax years if they included such damages in income.

FASAB Seeks Transparency on Tax Expenditures

The Federal Accounting Standards Advisory Board proposed a standard with the intention of providing the public more information about the U.S. government’s tax expenditures.

AICPA Members Weigh In on IRS Service Levels

Problems included trouble getting through on the phone and trouble reaching IRS representatives who could answer their questions. Written communications with the agency were another source of frustrations.

Newsletter Articles

SPONSORED REPORT

Questions to ask before committing to the cloud

Cloud computing has its pros and cons. In this report, we answer common questions CPAs may have as they consider transitioning partially or fully to the cloud.

PRACTICE MANAGEMENT

2015 Tax Software Survey

See how nearly 5,000 paid CPA tax preparers rated the strengths and weakness of major tax preparation software products they used in 2015.