2014 News Archive
 

< Return to List

GWSCPA News

Councilor, Buchanan & Mitchell, PC (CBM) to Merge with Drolet & Associates

Front Row (L-R) : Patricia A. Drolet, Peter B. Reilly, Holly W. Caporale Back Row (L-R) : Matthew F. Johnson, Daniel L. Weaver, John K. Mullins, S. Vincent Crescenzi, Richard E. Morris (Not pictured: John R. Comunale)   September 23, 2014...

SEC expects to pay whistleblower a record $30 million

The SEC expects to pay an award of more than $30 million to a whistleblower—a total that’s more than twice the previous record payout announced in the commission’s 2-year-old whistleblower program. An informant living in a foreign country who...

Auditors still responsible for going concern evaluation under PCAOB rules

Recent changes to U.S. GAAP do not change public company auditors’ responsibilities for following existing PCAOB standards when considering a company’s ability to continue as a going concern, the PCAOB said Monday. In a staff audit practice alert...

IRS announces proposed changes to cafeteria plan elections and lookback period

The IRS issued two notices on Thursday, proposing to change the rules for when a taxpayer can revoke health care coverage in a cafeteria plan and enroll in a plan on the Health Insurance Marketplace exchanges, and how to measure the lookback...

IRS May Shift W 2 Deadlines to Combat Identity Theft and Tax Fraud

The Internal Revenue Service is being urged to move up its W-2 filing deadline to January 31 and to lower the threshold for requiring electronic filing of W-2 returns in an effort to curb the growing trend of identity theft related tax fraud. A...

SEC Finds Misrepresentations by Hedge Funds, Bowden Says

Some hedge funds misrepresent their performance in advertising and marketing materials and fail to follow their own procedures for valuing investments, a top U.S. Securities and Exchange Commission official said today. SEC reviews completed as...

Special per diem rates issued for 2014?2015 travel expenses

On Friday, the IRS issued its annual update of special per diem rates for use in substantiating certain business expenses taxpayers incur when traveling away from home in 2014 and 2015 ( Notice 2014-57 ).The notice provides the transportation...

Global tax reform top of the agenda for G20 finance ministers this weekend

The world's most powerful central bank governors and finance ministers gather in Cairns this weekend for a series of highly charged economic meetings – one of their last chances to discuss as a group the problems afflicting the global economy...

Increased Demand Predicted for Forensic and Valuation Services

According to the recent 2014 AICPA Survey on International Trends in Forensic and Valuation Services, done in conjunction with CPA Canada, there is currently a healthy demand for forensic and valuation services, and very strong growth potential...

Regulations update hybrid defined benefit plan rules

On Monday, the IRS released final and proposed regulations providing guidance on so-called hybrid defined benefit pension plans ( T.D. 9693 and REG-111839-13 ). The regulations deal with changes made by the Pension Protection Act of 2006, P.L....