Linking Employee Performance, Compensation and Accounting Firm Performance
In the past decade the Sarbanes Oxley Act enhanced demand for accounting services. Employees' performance may not have received the attention it warranted. In the current economic malaise and with the winding down of the Sarbanes-Oxley boom firms need to re-focus on...
Published on March 21, 2011
Customer Reward Programs Deducting Fulfillment Costs Prior to Economic Performance
Regs. Sec. 1.451-4 provides a narrow exception to the economic performance rules that allows accrual-basis taxpayers who issue premium coupons (or trading stamps) to deduct the estimated fulfillment cost of the coupons (or stamps) at the time they are...
Published on July 25, 2013
IRS Changes Its Position on Performance-Based Compensation for $1 Million Compensation Limit
The IRS ruled that an incentive plan is not performance-based compensation because it allows payments upon involuntary termination without cause by the employer, voluntary termination by the employee with good reason, or voluntary retirement regardless of whether the...
Published on May 02, 2010
Recurring-Item Exception Can Economic Performance Be Accelerated
Rev. Rul. 2012-1 addresses the application of the economic performance rules and whether the recurring-item exception may be applied to accelerate economic performance with respect to liabilities for the lease of equipment and a related maintenance agreement
Published on July 23, 2013
The Firm of the Future Can Be Your Firm Today!
CPA firms are trying to figure out how to do more with less while at the same time continuing to be competitive and profitable. These demands require that firms increase the productivity, efficiency and collaboration of their workforce. Three of the areas in which firms can focus their attention to
Published on January 28, 2011
IRS Challenges Noted by Oversight Board
The IRS Oversight Board described the IRS’s performance during FY 2010, its progress in meeting its goals, and the challenges the IRS has faced in recent years in administering new tax laws enacted to provide economic relief...
Published on June 30, 2011
Guidance on FIN 48 and Independence
...The AICPA’s Professional Ethics Executive Committee (PEEC) recently issued nonauthoritative guidance on whether under AICPA Interpretation 101-3, Performance of Nonattest Services, members could assist an attest client in applying FASB Interpretation No
Published on April 19, 2010
2013 Tax Software Survey
Thousands of tax practitioners rated the software they used to prepare 2012 tax returns.
Published on July 31, 2013
AICPA News Update - October 19, 2012
...Metropolitan Commuter Transportation Mobility Tax Continues to Provide Liability Issues for CPAs, New TPAs Available for Insurance Entities, SOP 12-1 Issued on Reporting Pursuant to the Global Investment Performance Standards, Tool Helps CPAs Make a Business Case for Web 2.0, Download Two Free Chapters from Popular Financial and Estate
Published on October 23, 2012
IRS Issues Sample Text for Sec. 83(b) Election
The IRS released sample language for making a Sec. 83(b) election to include property received in connection with the performance of services in income in the year the property is received even if there is a substantial risk that the property will later be forfeited
Published on August 31, 2012