Monthly Archives: June 2019

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Virtual currency not FBAR reportable (at least for now)

The AICPA Virtual Currency Task Force reached out to Treasury’s Financial Crimes Enforcement Network (FinCEN) to help practitioners answer the question of whether virtual currency (or cryptocurrency) must be reported on FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
Source: JOA News
Read More here – Virtual currency not FBAR reportable (at least for now)


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Convergence with international standards sought for SSARSs

A proposal issued by the AICPA Accounting and Review Services Committee would promote convergence with international standards for review services.
Source: JOA News
Read More here – Convergence with international standards sought for SSARSs


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W-2 methods proposed for Sec. 199A(g) deduction by agricultural co-ops

The IRS issued methods for calculating W-2 wages for the Sec. 199A(g) deduction for agricultural and horticultural cooperatives, similar to the former Sec. 199 domestic production activities deduction.
Source: Tax News
Read More here – W-2 methods proposed for Sec. 199A(g) deduction by agricultural co-ops


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W-2 methods proposed for Sec. 199A(g) deduction by agricultural co-ops

The IRS issued methods for calculating W-2 wages for the Sec. 199A(g) deduction for agricultural and horticultural cooperatives, similar to the former Sec. 199 domestic production activities deduction.
Source: JOA News
Read More here – W-2 methods proposed for Sec. 199A(g) deduction by agricultural co-ops


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New GASB guide addresses fiduciary activities

GASB issued a new implementation guide that includes questions and answers related to recently released GASB standards on accounting and financial reporting for fiduciary activities.
Source: JOA News
Read More here – New GASB guide addresses fiduciary activities


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Final HRA rules permit integration with individual health insurance

The IRS issued final regulations on health reimbursement arrangements, which may be offered to individuals as individual coverage HRAs and integrated into health insurance plans.
Source: Tax News
Read More here – Final HRA rules permit integration with individual health insurance


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Final HRA rules permit integration with individual health insurance

The IRS issued final regulations on health reimbursement arrangements, which may be offered to individuals as individual coverage HRAs and integrated into health insurance plans.
Source: JOA News
Read More here – Final HRA rules permit integration with individual health insurance


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Final rules govern GILTI, Subpart F income, and foreign tax credits

The IRS issued final regulations on the Sec. 951A global low-taxed income inclusion and foreign tax credits, finalizing proposed rules issued in October and December 2018.
Source: Tax News
Read More here – Final rules govern GILTI, Subpart F income, and foreign tax credits


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Final rules govern GILTI, Subpart F income, and foreign tax credits

The IRS issued final regulations on the Sec. 951A global low-taxed income inclusion and foreign tax credits, finalizing proposed rules issued in October and December 2018.
Source: JOA News
Read More here – Final rules govern GILTI, Subpart F income, and foreign tax credits


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Congress approves IRS reform bill, drops Free File language

The bill establishes an independent appeals office and requires the IRS to develop a customer service strategy. A controversial provision codifying the Free File program was dropped from the bill.
Source: Tax News
Read More here – Congress approves IRS reform bill, drops Free File language