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 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
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
Final Regulations Simplify Accounting Rules in Corporate Reorganizations
The IRS issued final regulations intended to clarify and simplify rules concerning continuity of accounting methods and inventory methods in certain tax-free corporate reorganizations and liquidations
Published on August 01, 2011
May 13, 2011 Tax E-Alert IRS Requests Accounting Software Data Files
This newsletter contains information regarding: Accounting Software Data Files, Withholding on Payments to Government Contractors, Disaster Assistance and Emergency Relief for Individuals and Businesses, Electronic Filing of Form 2553, S Corporation Election
Published on February 28, 2012
IRS Responds to AICPA Accounting Software Examination Letter
The AICPA and IRS have corresponded regarding the AICPA’s concerns about the Service’s program to request the accounting software files of certain small business taxpayers under examination
Published on May 10, 2011