GASB issued a proposed implementation guide that is designed to help state and local governments understand the board’s new standard on lease accounting.
Source: JOA News
Read More here – GASB issues proposed lease accounting implementation guide
The AICPA is revising its Statements on Standards for Tax Services and wants your help.
Source: Tax News
Read More here – Times have changed; professional standards should, too
The IRS issued final regulations on the centralized partnership audit regime, which generally assesses tax at the partnership level.
Source: Tax News
Read More here – IRS finalizes centralized partnership audit regulations
The IRS issued final regulations on the centralized partnership audit regime, which generally assesses tax at the partnership level.
Source: JOA News
Read More here – IRS finalizes centralized partnership audit regulations
The U.S. Supreme Court held that West Virginia cannot provide a tax exemption to state law enforcement retirees while denying that exemption to federal law enforcement retirees who performed similar jobs.
Source: Tax News
Read More here – State tax law cannot discriminate against federal pensioners, Supreme Court holds
The IRS posted a draft of a form that affected taxpayers will submit with their 2019 tax returns showing how they computed their qualified business income (QBI) deduction under Sec. 199A.
Source: Tax News
Read More here – Taxpayers will file QBI deduction computation with IRS next year
The IRS posted a draft of a form that affected taxpayers will submit with their 2019 tax returns showing how they computed their qualified business income (QBI) deduction under Sec. 199A.
Source: JOA News
Read More here – Taxpayers will file QBI deduction computation with IRS next year
FASB took a step forward in resolving challenges in its rules for recognizing and measuring deferred revenue in business combinations.
Source: JOA News
Read More here – FASB addresses deferred revenue in business combinations
Nearly one-third (30%) of financial planners say their clients’ top retirement fear is running out of money, according to a recent AICPA survey of 631 CPA financial planners.
Source: JOA News
Read More here – Clients’ top retirement fear: Running out of money
The IRS issued a safe-harbor procedure that taxpayers may follow for determining the deduction for depreciating passenger vehicles when they are eligible for 100% bonus depreciation but are also subject to the Sec. 280F limits on deductions for luxury automobiles.
Source: Tax News
Read More here – Bonus depreciation safe-harbor rules for vehicles issued
