2016 News Archive
 

< Return to List

Articles

IRS Shifting Priorities for Advisory Panel

The Internal Revenue Service (IRS) is downsizing and revising the focus of its Advisory Committee on Tax Exempt and Government Entities (ACT), according to an agency report issued Jan. 19. ACT members provide observations and recommendations to...

IRS Kicks Off Tax Season

The Internal Revenue Service launched the tax-filing season Tuesday, promising better taxpayer and practitioner service, although a labor union official representing IRS employees warned there could still be problems. After five straight years of...

Notice postpones Sec. 501(c)(4) social welfare organization requirements

An organization that wishes to operate as a social welfare organization under Sec. 501(c)(4) must notify the IRS within 60 days after the organization is established of its intent to operate as a Sec. 501(c)(4) organization under tax legislation...

Inspector General on 'High Alert' for Tax Scams

The Treasury Inspector General for Tax Administration is urging taxpayers and practitioners to be on “high alert” about a massive telephone fraud scam being committed by criminals impersonating Internal Revenue Service employees....

Millennials can play a role in move to value pricing

A growing number of industry pricing experts are urging CPA firms to jettison the billable hour and replace it with a fixed-pricing model, or even the more optimal model of “value pricing.” Few public accounting topics spark as much...

5 Tips For Flextime In CPA Firms

This article first appeared on the Wiley Efficient Learning blog. A major benefit for CPAs working in public accounting is the ability to work flextime.  What is flextime? While the definitions vary firm to firm, flextime can mean that you work...

Obama Proposes to Expand Tax Cuts for Childless Workers

President Obama proposed to expand tax cuts for low-income workers who don’t have children during his State of the Union address. Obama began the speech Tuesday night, the last of his presidency, by praising the new Speaker of the House,...

Clinton Tax Plan Hits Top Earners with Highest Rate Since 1986

(Bloomberg) Hillary Clinton is calling for a 4 percent tax surcharge on Americans making more than $5 million annually, a move that would lead to the highest top U.S. income tax rate in 30 years. Proposing the 4 percent surcharge, which would...

Audit committees prefer customized, tailored audit quality indicators

Audit committee members would prefer the ability to tailor and customize audit quality indicators to suit their specific information needs, a new Center for Audit Quality (CAQ) report shows. The development of objective measures of audit quality...

FASB Seeks Public Comment

The Federal Accounting Standards Advisory Board (FASAB) is pleased to announce three documents that are currently available for public comment. The due dates for comments are listed below. 1/29/16 – Three-Year Plan -...