IRS Reform Bill Approved by Congress
Congress recently voted to approve an IRS reform bill, the Taxpayer First Act.
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IRS and Treasury Department Issue Global Intangible Low-Taxed Income Guidance
The Treasury Department and IRS recently issued final and proposed regulations concerning global intangible low-taxed income.
View MoreGASB Establishes Guidance to Assist with Implementation and Application of Various Pronouncements
The Governmental Accounting Standards Board recently issued guidance intended to clarify, explain, or elaborate on the implementation and application of certain GASB Statements.
View MoreFive Things Accounting Students Should Consider When Entering Public Accounting
Public accounting is an extremely rewarding career path but can be competitive and intimidating to enter. However, there are actions students can take while in school to set themselves apart from the crowd. Here are five pieces of advice to help get the job and ultimately, succeed in your career.
View MoreIRS Modifies and Supersedes Revenue Procedure 2018-52
The IRS recently announced Revenue Procedure 2019-19 will modify and supersede Rev. Proc. 2018-52, 2018-42 I.R.B. 611, which sets forth the Employee Plans Compliance Resolution System (EPCRS).
View MoreIRS Issues Guidance Providing Safe Harbor for Professional Sports Teams’ Trades
The IRS recently issued guidance that provides a safe harbor allowing professional sports teams to treat certain player and staff member contracts and draft picks as having a zero value for determining gain or loss to be recognized on the trade of a player or staff member contract or draft pick.
View MoreGetting Involved and Going Deeper: How My College Involvement Led Me to Accounting
For a college freshman, getting involved on campus can be deceptively more difficult than the expansive list of clubs and organizations may suggest. However, waiting until you feel comfortable on campus before joining an organization could put you at a disadvantage. I would advise anyone new to a university to dive right in and find connections early on.
View MoreProcedure for Obtaining EINs to Change May 13
As part of its efforts to provide greater security to the employer identification number (EIN) application process, the IRS recently announced that starting May 13 only individual taxpayers with either a Social Security or individual taxpayer identification number will be able to obtain EINs as the “responsible party” on the application.
View MorePlug-In Electric Vehicle Tax Credit for Eligible Consumers Begins Phaseout April 1
General Motors has sold more than 200,000 vehicles eligible for the plug-in electric drive motor vehicle credit during the fourth quarter of 2018, triggering a phaseout of the tax credit available for purchasers of the vehicles.
View MoreFASB Proposes Revised Improvements to Income Tax Disclosure Requirements
The Financial Accounting Standards Board recently issued a revised proposed Accounting Standards Update intended to improve the relevance of current income tax disclosure requirements to financial statement users.
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