News

CPAs Have More Reciprocity Than NJ Board of Accountancy Form Says
 

CPAs Have More Reciprocity Than NJ Board of Accountancy Form Says

Posted: September 7, 2017
The Application for Certification by Endorsement form posted on the New Jersey State Board of Accountancy website erroneously states reciprocity information. While the State Board is aware of the error, the form has yet to be updated to show that NJ has reciprocity with all jurisdictions.

U.S. Judge Strikes Down Obama Administration Overtime Pay Rule
 

U.S. Judge Strikes Down Obama Administration Overtime Pay Rule

Posted: September 6, 2017
A federal judge in Texas on Thursday struck down an Obama administration rule that would have extended mandatory overtime pay to more than 4 million U.S. workers, siding with business groups and 21 states that had challenged it.


U.S. Business Executives Cite Scarcity of Skilled Personnel as Top Concern
 

U.S. Business Executives Cite Scarcity of Skilled Personnel as Top Concern

Posted: August 31, 2017
Business executives maintained their generally upbeat view of prospects for the U.S. economy, and have upgraded expectations for profit and revenue growth over the next 12 months, according to the third-quarter AICPA Economic Outlook Survey. But there is a dark cloud on the horizon: the growing scarcity of suitable job candidates.

FASB Issues Improvements to Hedge Accounting
 

FASB Issues Improvements to Hedge Accounting

Posted: August 28, 2017
The Financial Accounting Standards Board has issued a final Accounting Standards Update that will improve and simplify accounting rules around hedge accounting. The ASU is effective for public companies in 2019 and private companies in 2020.

IRS Gives Tax Relief to Victims of Hurricane Harvey
 

IRS Gives Tax Relief to Victims of Hurricane Harvey

Posted: August 28, 2017
Hurricane Harvey victims in parts of Texas have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today.