CPA Never under estimate the value
The delay, the third by the IRS for Form 1099-K reporting for third-party settlement organizations, will treat 2024 and 2025 as transition years.
Source: JOA News
Read More here – IRS again delays effective date of 0 threshold for Form 1099-K reporting
The standard aims to provide guidance missing in GAAP for the reporting of induced conversions related to settlement of convertible debt instruments.
Source: JOA News
Read More here – New FASB standard addresses induced conversions
The Governmental Accounting Standards Board aims to bring clarity to the financial reporting of subsequent events and to a variety of topics in its implementation guide.
Source: JOA News
Read More here – GASB issues two exposure drafts for comment
With about two in three transformations failing, a leader navigating three transformations at one time explains how she plans to avoid becoming a statistic.
Source: JOA News
Read More here – Managing change: 3 strategies to avoid a tech transformation tailspin
Clients often get confused about how enrollment in Medicare affects their eligibility to contribute to a health savings account and what to do if they erroneously made HSA contributions after their eligibility ceased.
Source: JOA News
Read More here – Answering common questions about HSAs and Medicare enrollment
The IRS said the new deadline to file under the consolidated employee retention credit claims process is Dec. 31. The previous deadline was Friday.
Source: JOA News
Read More here – ERC claims withdrawal process extended for third-party payers
The board approves eight firm and engagement metrics for disclosure and adds to the disclosures it requires during annual reporting and special reporting periods. It also approves its 2025 budget and puts any action related to NOCLAR on hold until 2025.
Source: JOA News
Read More here – PCAOB will require firms to share a new set of metrics
Beginning with the 2025 filing season, the IRS will accept Forms 1040, 1040-NR and 1040-SS even if a dependent has already been claimed on a previously filed return if the primary taxpayer on the second return includes a valid identity protection personal identification number.
Source: JOA News
Read More here – IRS will accept duplicate dependent returns submitted with an IP PIN
Public comments are sought on the board’s effort to provide authoritative guidance in an area not currently covered by GAAP. In addition, FASB seeks feedback on potential standard setting related to financial KPIs.
Source: JOA News
Read More here – FASB proposes guidance on accounting for government grants
The Experience, Learn and Earn program now offers an affordable path to 150 credit hours to a larger group of accounting graduates.
Source: JOA News
Read More here – Education program expands to welcome more CPA licensure candidates
