Mobile Workforce Legislation Passes U.S. House, With Backing of NJ Representatives Posted: June 22, 2017 The U.S. House of Representatives has passed the Mobile Workforce State Income Tax Simplification Act of 2017, which is intended to simplify state income tax reporting and withholding rules for employees who sometimes work outside their home states.
IRS Reopens PTIN System Posted: June 21, 2017 The IRS has resumed the issuance of PTINS, without charge.
IRS Warns of New Phone Scam Involving Bogus Certified Letters Posted: June 16, 2017 The IRS is warning people to beware of a new scam linked to the Electronic Federal Tax Payment System (EFTPS), where fraudsters call to demand an immediate tax payment through a prepaid debit card.
NJCPA Members Turn Down Associate Member Change Posted: June 14, 2017 Fellow members of the NJCPA voted against expanding the Associate membership category to include accounting and financial professionals who do not hold a CPA license.
Staffing Concerns Are Dominant Issue for CPA Firms in 2017 Posted: June 14, 2017 Finding and retaining staff are the top issues facing CPA firms this year, and talent pool challenges are expected to have the biggest impact on public accounting practice operations over the next five years, too, new research by the American Institute of CPAs shows.
IRS Adds New Features to Taxpayers' Online Account Posted: June 13, 2017 The IRS has announced the addition of several new features to the online account tool first introduced late last year as part of the IRS’s commitment to improve and expand taxpayer services.
IRS Interest Rates Remain the Same Posted: June 9, 2017 The IRS has announced that interest rates will remain the same for the calendar quarter beginning July 1, 2017.
FASB Votes to Proceed With Final Standard on Hedging Posted: June 7, 2017 The Financial Accounting Standards Board has voted to proceed with a new accounting standard expected to improve and simplify accounting rules around hedge accounting.
Federal Court Strikes Down PTIN Fees, Upholds PTINs Posted: June 6, 2017 A federal district court held that the IRS has the authority to require tax return preparers to obtain preparer tax identification numbers (PTINs) but that it cannot charge a user fee for issuing PTINs.
New PCAOB Standard Enhances Relevance and Usefulness of the Auditor's Report Posted: June 5, 2017 Under the new standard adopted by the PCAOB, the auditor's report will disclose, among other things, the tenure of an auditor, specifically, the year in which the auditor began serving consecutively as the company's auditor. Read more about the new standard.