News

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...

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...

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 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 ,  ...

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...

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...

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...

The Court of Appeals for the D.C. Circuit held in   American Institute of Certified Public Accountants v. Internal Revenue Service , No. 16-5256 (D.C. Cir. 8/14/18), that the AICPA had standing to challenge the IRS’s voluntary Annual Filing...

A proposal issued by FASB on Monday would amend the transition requirements and scope of the board’s new standard for accounting for credit losses. Proposed Accounting Standards Update (ASU),   Codification Improvements to Topic 326,...