2014 News Archive
 

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GWSCPA News

IRS Chief Warns Congress about Possible Delay to Tax Season from Unresolved Tax Extenders

Internal Revenue Service commissioner John Koskinen has written a letter to the leaders of Congress’s main tax committees urging them to decide soon on what to do about extending dozens of expired tax provisions, or else next tax season and the...

Identity Theft and Taxes

Identity theft is a growing and frustrating problem in today’s world. Perpetrators run the gamut from sophisticated thieves breaching the security of large retailers to people rummaging through garbage for useful information, to everything in...

10 Ways to Personalize Your CPA Firm's Marketing Efforts

Personalized marketing is at work all around us. We see it every day, from personalized key chains and other souvenirs sold at tourist destinations to featured recommendations on Amazon.com, companies are tailoring products to make them more...

Virginia Income Tax Treatment of Same Sex Marriage

On October 6, 2014, the United States Supreme Court denied certiorari in the Bosticcase, thereby upholding the Fourth Circuit Court of Appeals decision that overturned Virginia’s ban on same-sex marriage. Accordingly, same-sex marriages that are...

Regulation, inflation drove audit fees higher in 2013

Regulatory oversight and inflation have played significant roles in the rise in fees U.S. companies paid in 2013 to external auditors, according to new research by Financial Executives International. The 87 public companies participating in the...

FASAB Requests Comments on Public Private Partnerships: Disclosure Requirements

The Chairman of the Federal Accounting Standards Advisory Board (FASAB), Tom Allen, announced today that the FASAB is seeking input on the exposure draft entitled Public-Private Partnerships:Disclosure Requirements. Mr. Allen notes that “federal...

IRS Strengthens Security of e Services Registration

The Internal Revenue Service has strengthened the security of its e-Services registration process for tax professionals and taxpayers as identity theft and data breaches have become a greater concern. In order to improve and increase security,...

IRS: Revenues up, audits down

The IRS increased the amount of revenue it collected in 2013, according to a new report, despite auditing fewer taxpayers and seeing a drop in funding. In all, the IRS brought in $2.9 trillion in fiscal 2013, a 13 percent jump and the third...

PCAOB may consider different mechanism for naming engagement partner

The PCAOB may consider a different mechanism for disclosing the name of the engagement partner after a proposal last year raised significant objections from the accounting profession. Some investors have told the PCAOB that placing the name of...

FASB Accounting Simplification Projects See Early Support

The U.S. Financial Accounting Standards Board is gaining support for its projects to streamline rules around disclosure of extraordinary items and inventory accounting. The accounting rule maker had released proposals for the two short-term...