The Financial Accounting Foundation selected John Auchincloss, who had been serving as acting president following Terri Polley’s departure, for the foundation’s executive director post.
Source: JOA News
Read More here – FAF appoints Auchincloss to serve as executive director
The U.S. Supreme Court struck down the Bob Richards rule for allocating tax refunds among members of a consolidated group, holding that state law is well equipped to decide the matter.
Source: Tax News
Read More here – Supreme Court overturns consolidated group tax refund allocation rule
The U.S. Supreme Court struck down the Bob Richards rule for allocating tax refunds among members of a consolidated group, holding that state law is well equipped to decide the matter.
Source: JOA News
Read More here – Supreme Court overturns consolidated group tax refund allocation rule
Accounting body leaders from across the globe issued a call for action urging accounting professionals to put the fight against climate change at the forefront of their work.
Source: JOA News
Read More here – Accounting profession leaders call for action against climate change
The IRS issued proposed rules clarifying that taxpayers may generally continue to deduct 50% of the food and beverage expenses associated with operating their trade or business, despite changes to the meal and entertainment expense deduction under Sec. 274.
Source: Tax News
Read More here – Proposed regs. issued on meal and entertainment expense deductions
The IRS issued proposed rules clarifying that taxpayers may generally continue to deduct 50% of the food and beverage expenses associated with operating their trade or business, despite changes to the meal and entertainment expense deduction under Sec. 274.
Source: JOA News
Read More here – Proposed regs. issued on meal and entertainment expense deductions
GASB issued a proposed concepts statement that would establish new criteria for what state and local governments should disclose in the notes to their financial statements.
Source: JOA News
Read More here – GASB proposes criteria for financial statement disclosures
A technical bulletin issued by the FASAB clarified accounting guidance for federal governmental entities on the loss allowance for intragovernmental receivables.
Source: JOA News
Read More here – FASAB clarifies loss allowance for intragovernmental receivables
Recent news included the IRS’s latest proposed rules on withholding and results of a survey on professional licensing. See how much you know about the news (or catch up) with this short quiz.
Source: JOA News
Read More here – News quiz: What the IRS proposes on withholding
The AICPA has asked Treasury and the IRS to clarify that reporting relief on certain reporting under Sec. 465 will also apply to S corporations.
Source: JOA News
Read More here – AICPA requests clarity on Sec. 465 reporting relief
