2015 News Archive
 

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GWSCPA News

Companies Tap Brakes on 'Cadillac' Plan Shift Amid Anti-Tax Push

(Bloomberg) After years of passing on more and more health-care costs to employees, companies are slowing their adoption of high-deductible plans next year, according to a survey of more than 100 large U.S. employers. That relief could be...

Clinton Proposes Plan to Reduce College Costs by Limiting Tax Deductions

Hillary Clinton has rolled out a plan to make college affordable that her presidential campaign has dubbed the New College Compact, enabling students to pay for higher education without taking out costly student loans. “Under the New...

Accounting Firms Hired Record Number of Graduates

Public accounting firms hired the largest number of accounting graduates ever last year, according to the American Institute of CPAs. The AICPA said Monday that enrollments in undergraduate and graduate accounting programs also increased in the...

What Every Tax and Accounting Practitioner Needs to Know About Health Care Reform in 2015

With the Supreme Court ruling in favor of the government in King v. Burwell, it is clear that Obamacare is here to stay. For tax practitioners, the question is not “Will the ACA be repealed by congress or unraveled by the courts?” but...

Guide to Wealth Transfer Planning Highlights Estate Planning

Thomson Reuters has released of a special report, Estate Planning Portability is a Game-Change for Married Couples , to guide estate planners on the application of the portability provision, which allows a surviving spouse to inherit the deceased...

Temporary regulations end automatic extension for Forms W-2

Moving to combat taxpayer identity theft and other fraud with earlier filing of Forms W-2, Wage and Tax Statement , the IRS released temporary regulations ( T.D. 9730 ) Wednesday eliminating an automatic extension for most forms in the W-2...

Ninth Circuit holds mortgage-interest deduction applies on a per-taxpayer basis

Unmarried taxpayers who co-own a residence can each deduct interest payments on home-acquisition and home-equity debt up to the $1.1 million limit in Sec. 163(h)(3), the Ninth Circuit Court of Appeals held on Friday, reversing a Tax Court...

FASB Streamlines Accounting for Employee Benefit Plans

The Financial Accounting Standards Board has issued a three-part accounting standards update for employee benefit plans accounting as part of its efforts to simplify the accounting rules. Earlier standards for defined contribution benefit plans...

FASB Sees Dissent on Nonprofit Accounting Changes

The Financial Accounting Standards Board is beginning to hear from not-for-profit organizations and their accountants about the far-reaching changes it has proposed in reporting by nonprofits, and finding there are some disagreements, even among...

Congress Changes Business Tax-Filing Due Dates

A short-term highway-funding bill passed by the Senate on Thursday contains a number of tax-related provisions, including changing the due dates for partnership and C corporation tax returns. The highway-funding bill is a stopgap measure that...