Monthly Archives: June 2022

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IRS sets procedure for Superfund list changes

The IRS also has posted general Superfund FAQs and tax rates for some chemical substances subject to the recently reinstated excise tax.
Source: JOA News
Read More here – IRS sets procedure for Superfund list changes


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Cannabis: Opportunities for CPAs in a multibillion-dollar industry

CPAs across the U.S. are investing resources in a flourishing $25 billion industry: cannabis. As more states legalize cannabis each year, the AICPA & CIMA Cannabis Industry Conference, Aug. 8–10, shows how you can enter the field.
Source: JOA News
Read More here – Cannabis: Opportunities for CPAs in a multibillion-dollar industry


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Regs. proposed for present value of estate deductions

Administrative expenses and claims against estates allowable under Sec. 2053 beyond a three-year grace period would be discounted for current deduction, under proposed rules issued by the IRS.
Source: Tax News
Read More here – Regs. proposed for present value of estate deductions


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Regs. proposed for present value of estate deductions

Administrative expenses and claims against estates allowable under Sec. 2053 beyond a three-year grace period would be discounted for current deduction, under proposed rules issued by the IRS.
Source: JOA News
Read More here – Regs. proposed for present value of estate deductions


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AICPA publishes Q&A to explain SEC guidance on cryptoassets

The AICPA has published a set of questions and answers that explains recently released SEC staff guidance regarding the accounting for entities that have obligations to safeguard cryptoassets held for their platform users.
Source: JOA News
Read More here – AICPA publishes Q&A to explain SEC guidance on cryptoassets


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IRS extends e-filing to more 1040-series amended returns

Nonresident alien amended returns and those for Puerto Rico residents are added; superseding returns can be designated.
Source: Tax News
Read More here – IRS extends e-filing to more 1040-series amended returns


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IRS extends e-filing to more 1040-series amended returns

Nonresident alien amended returns and those for Puerto Rico residents are added; superseding returns can be designated.
Source: JOA News
Read More here – IRS extends e-filing to more 1040-series amended returns


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PEEC and ASB issue new requirements for CPAs regarding NOCLAR

New interpretations of noncompliance with laws and regulations (NOCLAR) coincide with an ASB standard regarding prospective auditors’ NOCLAR responsibilities.
Source: JOA News
Read More here – PEEC and ASB issue new requirements for CPAs regarding NOCLAR


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National Taxpayer Advocate report targets IRS service

In her Objectives Report to Congress for fiscal 2023, National Taxpayer Advocate Erin Collins describes steps the IRS can take to improve its return and correspondence processing and telephone service to taxpayers.
Source: Tax News
Read More here – National Taxpayer Advocate report targets IRS service


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National Taxpayer Advocate report targets IRS service

In her Objectives Report to Congress for fiscal 2023, National Taxpayer Advocate Erin Collins describes steps the IRS can take to improve its return and correspondence processing and telephone service to taxpayers.
Source: JOA News
Read More here – National Taxpayer Advocate report targets IRS service