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Learn How to File a Personal Property Tax Return at MyTax.DC.gov

Effective   October 29 , all individuals, corporations, partnerships, executors, administrators, guardians, receivers, and trustees that own or hold personal property in trust are now required to file and submit their annual tax returns and...

FASB expands private company consolidation relief

FASB addressed an area of accounting that has long been a concern for private companies Wednesday with the issuance of a standard designed to improve consolidation accounting for private companies. The standard-setting board also amended for all...

IASB clarifies definition of ‘material’

In an effort to make it easier for companies to make materiality judgments, the International Accounting Standards Board (IASB) on Wednesday issued a clarified definition of “material.” The definition of materiality is a crucial...

Proposed rules would exempt corporate US shareholders from Sec. 956

The IRS issued proposed regulations ( REG-114540-18 ) on Wednesday providing that Sec. 956, which requires an income inclusion by U.S. shareholders of controlled foreign corporations (CFCs) that invest in U.S. property, should not apply to...

Meet Our GWSCPA Fall Intern

My name is Jason Javier and I am a current senior at American University majoring in BS Accounting, looking to finish up my last year and going to get my CPA before starting with EY’s audit practice in Berlin, Germany next fall. I’m...

FASB permits new benchmark rate for hedge accounting

FASB on Thursday made an addition to its list of permissible benchmark interest rates for hedge accounting. FASB ASC Topic 815,   Derivatives and Hedging , provides guidance on the risks associated with financial assets or liabilities that are...

AICPA Council votes to move forward with expanded eligibility for valuation credential

Members of AICPA’s governing Council voted Sunday to continue to implement an earlier decision to expand eligibility for the Accredited in Business Valuation (ABV) credential. Council members did not support a motion brought forth by five...

OTR to Host Cigarettes and Other Tobacco Products Webinar on October 24

The District of Columbia Office of Tax and Revenue (OTR) is hosting a webinar on the new online tax filing and payment process for Cigarettes and Other Tobacco Products on  Wednesday, October 24 from 1:00 p.m. to 3:00 p.m. ET .   Effective...

Changes to DC Personal Property Tax Filing Process

Changes are coming to the Personal Property tax filing process! Effective   October 29, 2018 , all individuals, corporations, partnerships, executors, administrators, guardians, receivers, and trustees that own or hold personal property in trust...

Changes to the District of Columbia Alcohol Beverage Tax Filing Requirements

The District of Columbia Office of Tax and Revenue (OTR) is making changes to its  Alcohol Beverage tax filing process.  Effective   October 29, 2018 , all licensed wholesalers in the District of Columbia, who sell alcoholic beverages, will be...