Accounting for Income Taxes Standard Achieves Purpose, Panel Finds
A review panel has concluded FAS 109, addressing accounting for income taxes, generally achieves its purpose but may not have reduced complexity
Published on November 20, 2013
Small businesses frequently use accounting software to maintain proper records as required by the IRS. If they are audited, they may have to turn over electronic files to the IRS that are not relevant...
Published on April 23, 2013
Accounting Firm Payments to Owners Flunk Independent Investor Test
The Seventh Circuit held that an accounting and consulting firm organized as a C corporation could not deduct payments to related entities because they were dividends, not compensation for services rendered by the firm's owners...
Published on May 21, 2012
Accounting Standards for Tax Purposes - Exposure Draft
Exposure drafts of AICPA Statements on accounting standards for tax purposes and interpretations are issued by the AICPA to invite public comment before a final pronouncement is issued. The public exposure time varies depending on the...
Published on May 14, 2013
Automatic Accounting Method Changes to Be Allowed in Corporate Reorganizations
The IRS announced a change in its policy on automatic accounting method changes in corporate reorganizations
Published on September 06, 2012
Automatic Accounting Method Change List
Published on August 20, 2013
Fiduciary Accounting Update Presentation - July 2012
This is a July 2012 Fiduciary Accouting Update presentation.
Published on August 23, 2012
AICPA Guide to Requesting Accounting Method Change Permission
An introduction to the ground rules for requesting permission from IRS to change accounting methods
Published on February 19, 2010
Automatic Procedures for Changing Accounting Methods Updated, Expanded
The IRS released updated procedures under which taxpayers can receive automatic consent to change their accounting methods
Published on January 28, 2011
IRS Issues Accounting Software Examination Guidance, Meets with AICPA
The IRS Small Business/Self-Employed Division issued guidance for its field examiners on when to request backup files of taxpayers’ accounting software during an examination, what the limits are on reviewing those electronic files, and how examiners must safeguard those records
Published on September 12, 2011