2015 News Archive
 

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GWSCPA News

IRS Sets Pension Plan and Tax Deduction Limits for 2016

The Internal Revenue Service released its annual update Wednesday on the cost of living adjustments for pension plans and retirement plans for next year, along with the amounts of standard deductions and other tax benefits. The 401(k)...

Treasury and IRS Propose Tax Rules Recognizing Same-Sex Marriage

The Treasury Department and the Internal Revenue Service proposed tax regulations Wednesday to bring the rules in line with recent Supreme Court decisions. The proposed regulations provide that a marriage of two individuals, whether of the same...

Dispelling 4 myths that shroud diversity and inclusion

Four stubborn myths have clouded some of the discussion of diversity and inclusion in accounting, Rich Caturano said Tuesday in a speech to the AICPA governing Council. While progress has been made in recent years, those common misconceptions are...

IRS, States and Tax Industry Adding New Safeguards to Curb Identity Theft

The Internal Revenue Service met with a group of state tax administrators and tax industry leaders Tuesday to discuss additional steps they are taking for next tax season to strengthen safeguards against identity theft and tax refund fraud. The...

Internal auditors receive modest raises

Although internal auditors in the United States and Canada generally received modest pay raises in the past year, the median salaries for many U.S. internal audit positions decreased, according to a new survey report. In the 2015 internal audit...

What Star Wars Can Teach Us about Fraud and Recovery Audits

The force is strong in AP officers. Find out why. A long time ago in a galaxy far, far away… there was more than likely fraud and payment errors in accounts payable processes within the Death Star.   With the imminent launch of the newest Star...

The 10 Commandments of the Successful CPA

Even after wandering 40 years in the wilderness that is business and accounting management, it is still sometime hard to tell the difference between a dried cowpie and a fresh one. Much less to find a Burning Bush, unless you count President Bush...

Tax Year 2015: Top 10 Tax Planning Issues

As 2015 draws to a close, a turbulent economic and legislative environment means taxpayers need to keep a close eye on several major planning issues, according to Grant Thornton LLP.  For example, more than 50 popular tax provisions expired at...

Social Security Won't Provide Cost of Living Increase Next Year

The Social Security Administration confirmed Thursday there will not be a cost of living increase for 2016 due to declines in consumer prices. The nearly 65 million recipients of monthly Social Security and Supplementary Social Security Income...

GASB Proposes Pension Standard Changes

The Governmental Accounting Standards Board has proposed new guidance to help state and local governments that participate in certain multiple-employer pension plans meet the reporting requirements of GASB’s pension standards. The proposed...