Monthly Archives: September 2017

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FASB proposes clarifying land easements guidance in leases standard

FASB issued a proposal that would clarify how its new leases standard should be applied to land easements.
Source: JOA News
Read More here – FASB proposes clarifying land easements guidance in leases standard


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FASAB establishes concepts for federal agencies’ financial reporting

The Federal Accounting Standards Advisory Board issued a new statement that establishes foundational concepts for federal agencies’ financial reporting.
Source: JOA News
Read More here – FASAB establishes concepts for federal agencies’ financial reporting


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CPAs satisfied as average salary tops six figures

CPAs based in the US are largely content with their salaries and expect to be earning more within the next year, according to a new survey by the Association of International Certified Professional Accountants.
Source: JOA News
Read More here – CPAs satisfied as average salary tops six figures


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IRS to rule on tax-free stock distributions

The IRS is introducing an 18-month pilot program under which it will once again issue letter rulings concerning the general income tax effects of stock distributions under Sec. 355.
Source: Tax News
Read More here – IRS to rule on tax-free stock distributions


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IRS to rule on tax-free stock distributions

The IRS is introducing an 18-month pilot program under which it will once again issue letter rulings concerning the general income tax effects of stock distributions under Sec. 355.
Source: JOA News
Read More here – IRS to rule on tax-free stock distributions


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What’s next for FASB

FASB voted to work on developing accounting rules to address areas of distinguishing liabilities and equity, financial performance reporting, and segment reporting.
Source: JOA News
Read More here – What’s next for FASB


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FASB proposes reorganizing consolidation guidance

Amid concerns that financial reporting guidance for consolidation is difficult to understand and navigate, FASB proposed a reorganization of the rules.
Source: JOA News
Read More here – FASB proposes reorganizing consolidation guidance


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Rules would allow truncated taxpayer IDs on Forms W-2

In an effort to reduce identity theft, the IRS issued proposed regulations that would permit employers to use truncated taxpayer identification numbers (TTINs) on Forms W-2, Wage and Tax Statement.
Source: Tax News
Read More here – Rules would allow truncated taxpayer IDs on Forms W-2


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Rules would allow truncated taxpayer IDs on Forms W-2

In an effort to reduce identity theft, the IRS issued proposed regulations that would permit employers to use truncated taxpayer identification numbers (TTINs) on Forms W-2, Wage and Tax Statement.
Source: JOA News
Read More here – Rules would allow truncated taxpayer IDs on Forms W-2


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Hurricane Irma victims get IRS reprieve

Acting quickly in the wake of Hurricane Irma, the IRS gave filing and payment extensions to hurricane victims in 16 counties in Florida, all of St. John and St. Thomas in the U.S. Virgin Islands, and four municipalities in Puerto Rico.
Source: JOA News
Read More here – Hurricane Irma victims get IRS reprieve