One firm’s journey in the cloud
In a recent case study, Denice Pavey, formerly of Korte & Kowatch, described how being in the cloud helped the firm in a few ways.…
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IRS Releases Draft 2019 Form 1040 with Fewer Schedules and New Form 1040-SR
The IRS released a new draft of Form 1040, U.S. Individual Income Tax Return, for the 2019 tax year that reduces the schedules in the…
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FASB Proposes ASU on Long-Duration Contracts
Proposal The FASB proposed an ASU on long-duration contracts today. The FASB issues proposed Accounting Standards Update (ASU) that would grant all insurance companies that issue…
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SECURE Act Would Eliminate Stretch IRAs
The SECURE Act as passed by the House of Representatives would replace the 5-year distribution rule for inherited IRAs with a 10-year rule. It would…
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Revised Draft Form W-4 Acknowledges Privacy Concerns, but Remains Complex
The IRS has revised its controversial draft of the 2020 Form W-4, Employee’s Withholding Allowance Certificate. When first released, the form faced controversy over: complexity;…
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Why Audit Quality Matters
Why does audit quality matter? Well, first and foremost, the audit landscape has changed due to changing peer review requirements. To explain, the AICPA’s Enhancing…
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GASB Releases Implementation Guide on Accounting for Leases
The Governmental Accounting Standards Board (GASB) has issued Implementation Guide No. 2019-3, Leases. Implementation Guide No. 2019-3 contains questions and answers about GASB Statement No. 87, Leases,…
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Form 1099-NEC Revived for Separate Reporting of Nonemployee Compensation
Form 1099-NEC, Nonemployee Compensation, is expected to return in 2020 after a 38-year absence. Taxpayers will use the form to report certain payments currently reported…
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“Audit Talks – LIVE” Virtual Conference Helps Auditors Take Advantage of the Rapid Changes to Their Profession
Top of mind topics for auditors today During a recent two-day “Audit Talks – LIVE” virtual conference, experts from the Tax & Accounting division of…
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Use new tax events to help grow revenue and increase client satisfaction
The accelerating pace of regulatory change can leave tax and accounting professionals overwhelmed as well as confused about how to best to serve clients. However,…
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