Journal of Accountancy » Tax
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The latest tax news and insights from the Journal of Accountancy, the ultimate resource for today's CPA. The Journal of Accountancy is the flagship publication of the American Institute of Certified Public Accountants. Our thought-provoking articles and features provide insight and practical, expert analysis of critical topics affecting the accounting profession, including auditing,..
Journal of Accountancy » Tax
1w ago
New guidance on required minimum distributions reporting provides relief for financial institutions that due to a change to the RMD start date rules made by the SECURE 2.0 Act, may have incorrectly provided RMD statements to IRA owners who turn 72 in 2023 ..read more
Journal of Accountancy » Tax
1w ago
The IRS announced that it will soon be able to scan paper Forms 1040 and 941 instead of inputting them by hand. The acting commissioner describes the expansion as “another milestone” in the agency’s transformation ..read more
Journal of Accountancy » Tax
1w ago
The Senate voted 54–42 on Thursday to approve Werfel, a former acting IRS commissioner who has served under both Democratic and Republican administrations ..read more
Journal of Accountancy » Tax
1w ago
Tax practitioners have many questions about how to track and report the basis of digital assets, and no clear guidance exists. Here are tips from the AICPA Virtual Currency and Digital Assets Tax Task Force ..read more
Journal of Accountancy » Tax
1w ago
The IRS Office of Professional Responsibility issued a bulletin that reviews the Circular 230 professional responsibilities that apply to claims for the employee retention credit ..read more
Journal of Accountancy » Tax
2w ago
Final regulations require certain companies to e-file returns for tax years ending on or after Dec. 31, 2023, and lower the e-filing requirement threshold to 10 returns ..read more
Journal of Accountancy » Tax
2w ago
A district court held that the PTIN fees charged by the IRS from 2011 to 2017 were excessive and ordered the IRS to determine an appropriate partial refund of the fees ..read more
Journal of Accountancy » Tax
2w ago
Taxpayers in most of California and parts of Alabama and Georgia have had their tax filing and payment deadlines further extended to Oct. 16. The postponement covers a wide variety of returns and taxes ..read more
Journal of Accountancy » Tax
2w ago
The Supreme Court held that the $10,000 maximum penalty for the nonwillful failure to file a compliant report applies on a per-report, not a per-account, basis ..read more
Journal of Accountancy » Tax
2w ago
A district court allows the election for qualified real property on an estate return filed more than five years late ..read more