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30th Annual GWSCPA Nonprofit Finance & Accounting Symposium

30th Annual GWSCPA Nonprofit Finance & Accounting Symposium November 27-28, 2018 Walter E. Washington Convention Center | Washington, DC  The GWSCPA Nonprofit Symposium is developed by the expert Nonprofit Member Section of the Greater Washington...

Investors trust auditors, but confidence in U.S. markets drops

Public company auditors remain the group investors trust most to protect their interests, but investors’ confidence in U.S. capital markets and U.S. public companies has dropped in the past year, according to a Center for Audit Quality...

IRS issues proposed regs. for GILTI inclusions

The IRS proposed new rules under the global intangible low-taxed income (GILTI) provision (Sec. 951A) added by P.L. 115-97, the law known as the Tax Cuts and Jobs Act ( REG-104390-18 ). Sec. 951A requires U.S. shareholders of controlled foreign...

2018 tax software survey

While professionals in all walks of life are prone to swap views on the relative merits of their tools of the trade, among CPA tax preparers, tax return preparation software generates often extensive and ardent discussion. Return preparers depend...

Launch of CPA Exam in Europe provides convenience for candidates

Beginning next month, CPA candidates in Europe will no longer have to undertake intercontinental travel to sit for the CPA Exam. Nine Prometric test center locations in Europe will begin offering the CPA Exam on Oct. 1, the AICPA, the National...

District of Columbia Tax Rates Changes Take Effect Monday, October 1

The District of Columbia Office of Tax and Revenue (OTR) reminds tax professionals, software providers, businesses, and others about tax rate changes that will take effect on Monday, October 1, 2018. The changes will apply as required by the...

FASB simplifies accounting for cloud computing service costs

FASB issued a   new standard   Wednesday that is designed to reduce complexity for the accounting for costs of implementing a cloud computing service arrangement. The guidance is published in   Accounting Standards Update No. 2018-15 ,  ...

GASB clarifies majority equity interest reporting rules

The definition of an acquisition is the dividing line in state and local governments’ accounting for the majority equity interest in an organization that remains legally separate after acquisition, according to clarifying guidance issued...

Deemed personal exemption amount introduced for various tax benefits

The IRS on Tuesday announced that it plans to issue regulations providing that the reduction in the personal exemption amount to zero for tax years 2018 through 2025 will not be taken into account in determining whether a person is a qualifying...

Proposed rules would curb avoidance of SALT deduction limit

nder proposed regulations issued by the IRS on Thursday, transfers to a state agency or charitable organization in lieu of paying state and local taxes would be deductible as a charitable contribution only to the extent that the taxpayer making...

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