CPA Never under estimate the value
The proposed rule would require SEC-registered investment advisers and exempt reporting advisers to establish customer identification programs aimed at curbing financial crimes.
Source: JOA News
Read More here – Proposal from SEC, FinCEN calls for investment advisers to ID customers
After steep increases for 2024, the HSA maximum contribution amounts allowed by the IRS still increase for 2025, but not by as much, as the rate of inflation slowed.
Source: JOA News
Read More here – HSA inflation-adjusted maximum contribution amounts for 2025 announced
The proposed regulations implement Secs. 643(i), 679, 6039F, 6048, and 6677, which were added or modified to prevent efforts by U.S. taxpayers to use foreign trusts and offshore arrangements to avoid U.S. taxes.
Source: JOA News
Read More here – Foreign trust transactions and large gifts addressed in proposed regs.
A PCAOB staff report considers the changing world of commercial real estate, offering advice for public company auditors that also applies to auditors outside of the PCAOB’s purview.
Source: JOA News
Read More here – Auditor resource: Considerations for commercial real estate
Now is the time to talk with high-net-worth clients about using the temporarily doubled estate and gift tax exclusion before its sunset in 2026, Bob Keebler, CPA/PFS, stressed in a webcast.
Source: JOA News
Read More here – Prepare large estates for TCJA sunset now
The final regulations, which the IRS issued Friday, also provide rules regarding the critical mineral and battery component requirements for the new clean vehicle credit, and they add a new test for mineral content.
Source: JOA News
Read More here – Final regs. issued for new, previously owned clean vehicle credits
The IRS aims to improve service on the tax practitioner phone line and build a better online account for tax professionals, Commissioner Danny Werfel said Thursday.
Source: JOA News
Read More here – Practitioner service improvements part of IRS strategic operating plan
The IRS on Tuesday provided a comprehensive list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13 apply. The list includes 21 changes described as significant.
Source: JOA News
Read More here – Automatic accounting method changes list updated by IRS
A new PCAOB report highlights how audit quality can be improved by root cause analysis — an approach the federal board eventually could require and one addressed in new AICPA quality management system standards.
Source: JOA News
Read More here – Root cause analysis: Auditor tool gaining traction on multiple fronts
Unmarried, cohabiting couples experience the same joys and challenges as married couples but without marriage’s legal entanglement. The lack of legal standing, however, means estate planning requires more thought and action.
Source: JOA News
Read More here – Forgoing marriage? Estate planning for unmarried couples
