CPA Never under estimate the value
FinCEN, which oversees beneficial ownership information reports, has received just 2.7 million of the 32.6 million reports that it expects. Through June, FinCEN said, it has reached more than 90,000 stakeholders.
Source: JOA News
Read More here – BOI requirements roll along despite concerns about too little outreach
A tax practitioner complained about a six-week wait for a response to help a client with a financial hardship who was owed a refund, leading to the unflattering review by the Treasury Inspector General for Tax Administration.
Source: JOA News
Read More here – Tax practitioner complaint leads to review of advocate phone service
Retiring clients need a realistic and accurate target that ensures they neither outlive their savings nor unnecessarily restrict their “fun money” spending. Here are some steps to follow.
Source: JOA News
Read More here – Helping pre-retirees choose a retirement spending limit
Barry Melancon, CPA, CGMA, AICPA & CIMA’s CEO, said the decisions will create uncertainty for a profession that craves certainty.
Source: JOA News
Read More here – Melancon: Supreme Court decisions are ‘big deal’ for tax pros
How do you go from teaching and testing material in a set time to providing students time (and multiple testing opportunities) to gain 100% mastery of the material? Find out in this Academic Update article.
Source: JOA News
Read More here – Switching to mastery-based college accounting classes
One year after its formation, the National Pipeline Advisory Group published its recommendations for improving the talent pipeline.
Source: JOA News
Read More here – Pipeline plan of action: Read the Accounting Talent Strategy Report
The board’s annual report identifies deficiencies in 70% of audit engagement reviews, offers advice aimed at reducing the number.
Source: JOA News
Read More here – Broker-dealer audit deficiencies on the rise, PCAOB finds
Experience, Learn and Earn, a program designed to ease attainment of the final 30 hours of the education requirement for CPA licensure, has 94 summer-session students representing more than 50 employers. The deadline for the fall semester is Thursday.
Source: JOA News
Read More here – Midsummer update: CPA licensure program continues to add students
The IRS said the five signs are the result of what IRS compliance teams found while analyzing and processing claims for the employee retention credit (ERC). The Service plans to briefly reopen its voluntary disclosure program.
Source: JOA News
Read More here – 5 new warning signs of a bad claim for pandemic-era ERC
IRS provides fifth quarterly update on transformation efforts, with Commissioner Danny Werfel saying the agency is making “substantial progress.”
Source: JOA News
Read More here – Funding spurs IRS improvements, but challenges remain, commissioner says
