Monthly Archives: October 2019

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TIGTA outlines IRS challenges for 2020

The memorandum lists 10 challenges in order of importance, ranging from data security to achieving operational efficiencies.
Source: Tax News
Read More here – TIGTA outlines IRS challenges for 2020


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TIGTA outlines IRS challenges for 2020

The memorandum lists 10 challenges in order of importance, ranging from data security to achieving operational efficiencies.
Source: JOA News
Read More here – TIGTA outlines IRS challenges for 2020


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FASB votes to delay effective dates for 3 major standards

Effective dates will be delayed for private companies and certain other entities for FASB’s standards on accounting for leases, credit losses, and hedging after a unanimous vote by FASB.
Source: JOA News
Read More here – FASB votes to delay effective dates for 3 major standards


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Opinion: FASB proposal jeopardizes health care entity financing

A FASB proposal could render obsolete a valuable financing option for health care entities known as variable-rate debt obligations (VRDOs).
Source: JOA News
Read More here – Opinion: FASB proposal jeopardizes health care entity financing


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Taxpayers may deduct casualty losses in prior years

The IRS finalized regulations permitting taxpayers to deduct disaster losses in the prior tax year and removed the related temporary regulations that were issued in 2016.
Source: Tax News
Read More here – Taxpayers may deduct casualty losses in prior years


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Taxpayers may deduct casualty losses in prior years

The IRS finalized regulations permitting taxpayers to deduct disaster losses in the prior tax year and removed the related temporary regulations that were issued in 2016.
Source: JOA News
Read More here – Taxpayers may deduct casualty losses in prior years


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Sustainability assurance’s link to reporting quality

The steady growth in assurance of sustainability reports suggests that companies increasingly perceive that there are net benefits of having their sustainability reports assured.
Source: JOA News
Read More here – Sustainability assurance’s link to reporting quality


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IRS clarifies the tax treatment of cryptocurrency ‘hard forks’ and ‘airdrops’

The IRS ruled that a taxpayer does not have gross income as a result of a hard fork of a cryptocurrency if the taxpayer does not receive units of a new cryptocurrency, but does have gross income as a result of an airdrop of new cryptocurrency after a hard fork if the taxpayer receives units of the new cryptocurrency.
Source: Tax News
Read More here – IRS clarifies the tax treatment of cryptocurrency ‘hard forks’ and ‘airdrops’


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IRS clarifies the tax treatment of cryptocurrency ‘hard forks’ and ‘airdrops’

The IRS ruled that a taxpayer does not have gross income as a result of a hard fork of a cryptocurrency if the taxpayer does not receive units of a new cryptocurrency, but does have gross income as a result of an airdrop of new cryptocurrency after a hard fork if the taxpayer receives units of the new cryptocurrency.
Source: JOA News
Read More here – IRS clarifies the tax treatment of cryptocurrency ‘hard forks’ and ‘airdrops’


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Critical audit matters: What firms are reporting

The first auditor’s reports containing the PCAOB’s newly required critical audit matters are available in public company annual reports.
Source: JOA News
Read More here – Critical audit matters: What firms are reporting