News




Senate Passes Tax Reform Bill
 

Senate Passes Tax Reform Bill

Posted: December 2, 2017
In the early hours of Saturday, the Senate passed its version of the Tax Cuts and Jobs Act by a vote of 51-49. The bill would lower the top individual tax rate to 38.5% and would lower the top corporate tax rate to 20% from 35%, among many other changes to tax law.

FASB Plans to Ease Lease Accounting Requirements
 

FASB Plans to Ease Lease Accounting Requirements

Posted: November 30, 2017
The Financial Accounting Standards Board decided during a meeting Wednesday to ease some of the implementation burdens and possible costs of the new lease accounting standard by making several adjustments and offering some practical expedients.

 AICPA Reports on Actions Promoting Enhanced Audit Quality
 

AICPA Reports on Actions Promoting Enhanced Audit Quality

Posted: November 20, 2017
The publication outlines key accomplishments in the areas of peer review, audit documentation, single audits, employee benefit plan audits and quality control. It also addresses changing talent needs with sections dedicated to the Uniform CPA Examination and Valuation credentials.

Senate Tax Reform Bill Contains More Changes
 

Senate Tax Reform Bill Contains More Changes

Posted: November 17, 2017
The Senate Finance Committee committee spent the week amending their tax reform bill, and the final version includes some changes beyond those included in the chairman’s mark released on Tuesday.

House Passes Tax Reform Bill
 

House Passes Tax Reform Bill

Posted: November 16, 2017
The U.S. House of Representatives passed the Tax Cuts and Jobs Act bill, H.R. 1, by a vote of 227–205, on Thursday afternoon, with all Democrats and 13 Republicans voting no. The legislation as passed had not been amended since its approval by the House Ways and Means Committee last week.


Overview of the Senate Tax Bill
 

Overview of the Senate Tax Bill

Posted: November 14, 2017
The AICPA Tax Advocacy team has provided a video overview of the Senate tax plan, including a comparison between the House and Senate versions on major provisions.