Category Archives: Uncategorized

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BOI update: 6.5 million of 32 million reports filed so far

Category:Uncategorized

FinCEN official says the reports “track more closely” with businesses created in 2024, which have a tighter deadline to file than businesses created earlier.
Source: JOA News
Read More here – BOI update: 6.5 million of 32 million reports filed so far


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A new top 10 firm? Two top 15 firms band together

Category:Uncategorized

CBIZ completed its acquisition of Marcum, a deal that creates a team of 10,000-plus and revenue that could land CBIZ in the top seven.
Source: JOA News
Read More here – A new top 10 firm? Two top 15 firms band together


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AICPA board approves update to peer review standards

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The AICPA Peer Review Board approved changes that align with new quality management standards for firms’ accounting and auditing practices.
Source: JOA News
Read More here – AICPA board approves update to peer review standards


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Final regs. modernize process for sale of taxpayers’ property

Category:Uncategorized

The regulations under Sec. 6335, which had not changed substantially since they were first issued in 1954, did not reflect modern electronic methods of submitting bids and accepting payment from bidders.
Source: JOA News
Read More here – Final regs. modernize process for sale of taxpayers’ property


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FASB sets new reporting standards for disclosure of expenses

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FASB published an Accounting Standards Update requiring public companies to disclose additional information about certain expenses in the notes to financial statements.
Source: JOA News
Read More here – FASB sets new reporting standards for disclosure of expenses


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Fraudsters get $47 million from practitioner priority service line scheme

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The losses occurred over an eight-month period ending in April, according to a report from the Treasury Inspector General for Tax Administration.
Source: JOA News
Read More here – Fraudsters get million from practitioner priority service line scheme


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Reinforcing DEI accountability

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Even as the climate for diversity, equity and inclusion remains volatile, the near- and longer-term impacts of DEI on the accounting profession amplify shared accountability.
Source: JOA News
Read More here – Reinforcing DEI accountability


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BOI reporting deadlines extended for certain victims of 5 hurricanes

Category:Uncategorized

The AICPA had requested that the Financial Crimes Enforcement Network extend reporting deadlines for beneficial ownership information for victims of hurricanes Beryl, Debby, Francine, Helene, and Milton.
Source: JOA News
Read More here – BOI reporting deadlines extended for certain victims of 5 hurricanes


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FASB proposes guidance on business combinations

Category:Uncategorized

FASB published a proposed Accounting Standards Update that is intended to improve the requirements for identifying the accounting acquirer in a business combination.
Source: JOA News
Read More here – FASB proposes guidance on business combinations


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IRS to end automatic penalties for late filing of foreign gift, bequest forms

Category:Uncategorized

National Taxpayer Advocate Erin Collins discussed the changes in a recent blog post. The changes have been long advocated by the AICPA.
Source: JOA News
Read More here – IRS to end automatic penalties for late filing of foreign gift, bequest forms