Category Archives: Industry News
National Taxpayer Advocate’s Report Aims to Shift More IRS Dollars to Helping Taxpayers
By Surgent CPE
In her National Taxpayer Advocate report to Congress this past Tuesday, Nina Olson detailed the annual IRS appropriation of $11.2 billion and highlighted a grave disparity. Ultimately, her report recommends a different approach – one where the IRS assumes that taxpayers, for the most part, seek to obey the tax law, and can re-focus its funds to facilitate compliance by providing taxpayers with the assistance needed to meet their tax obligations.
With ASU No. 2016-20, Technical Corrections and Improvements to Topic 606, Revenue From Contracts With Customers, the FASB continued its response to implementation challenges and requests for clarifications received from the Transition Resource Group (TRG). The TRG, the group of practitioners, accountants and financial statement preparers tasked with vetting questions concerning Topic 606, Revenue from […]
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-20 today, which addresses a number of implementation issues that have been identified as business entities move to adopt ASC Topic 606, Revenue from Contracts with Customers. This much-anticipated update contains guidance on 13 specific issues that had been previously identified since the […]
As we reported Tuesday, on November 22 a federal district court judge in the Eastern District of Texas issued a nationwide injunction against the implementation of the new Department of Labor (DOL) overtime rules. The regulation was scheduled to take effect yesterday. The ruling, by Judge Amos L. Mazzant III, states that the Obama administration […]
The IRS announced this week that e-Services users will need to re-authenticate their account. The move is part of an initiative to strengthen the security of the agency’s online services, but it involves a very prescriptive and somewhat confusing process. E-Services is an essential tool for tax preparers, yet it was unavailable for much of […]
On November 22 a federal district court judge in the Eastern District of Texas issued a nationwide injunction against the implementation of the new Department of Labor (DOL) overtime rules. The regulation was scheduled to take effect just days from now, on December 1. The ruling, by Judge Amos L. Mazzant III, states that the […]
The reality is that accountants are a pretty cool bunch who have, over the years, contributed a whole lot more to society than just the double-entry bookkeeping system.
The IRS is warning tax professionals about a scam involving email and IRS e-services. The scam is actually a variation of a prior scam, where tax professionals receive an email asking them to update their accounts.
There is very surprising math that supports paying more to meet your CPE requirements. Let’s run through a case study and examine numbers.
Being able to make a living in an industry you love can make a big difference in how you feel about going to work every day. Here are five accounting industry gigs that are pretty darned cool.
