Federal and state tax news
Latest federal and state tax news articles
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ArticleTax & AccountingFebruary 15, 20242023 Tax returns include a whole new world of green energy tax creditsTaxpayers that are preparing their 2023 returns are encountering a host of new and modified credits related to “green energy.” The Inflation Reduction Act of 2022 added some new credits, and modified others, mostly to make them more generous.
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ArticleTax & AccountingJanuary 03, 2024Draft Schedules K-2 and K-3 for 2023: The domestic filing exception has been retainedThe draft partnership instructions for Schedules K-2 and K-3 (Forms 1065 and 1120S) retain last year’s filing exception for domestic partnerships.
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ArticleTax & AccountingDecember 20, 2023FASB issues standard on accounting for and disclosure of crypto assetsFASB issues standard to improve the accounting and disclosure of certain crypto assets
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ArticleTax & AccountingDecember 04, 2023Time is running out for tax professionals to renew PTINs for the 2024 tax seasonTax pros who file returns or refunds for compensation need to apply for, and renew, their PTINs every year. Here's what they need to do.
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ArticleTax & AccountingOctober 27, 2023IRS uses new funding to target tax evasion by large partnershipsThe IRS announces new compliance efforts focused on large and complex partnerships.
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ArticleTax & AccountingOctober 13, 2023BOI reporting: what client information will accounting firms need to file on their behalf?Depending on what type of BOI filing your clients need, different information is required.
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ArticleTax & AccountingOctober 05, 2023Draft form 3800, General Business Credit, features major redesign to incorporate IRA changesDraft Form 3800, General Business Credit, for 2023 adds several new elements to incorporate changes made by the Inflation Reduction Act.
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ArticleTax & AccountingSeptember 13, 2023Wolters Kluwer projects 2024 federal tax brackets and other amountsProjected inflation-adjusted amounts for the 2024 tax year, as calculated by Wolters Kluwer tax experts.
Accounting and audit news
Latest accounting and audit news articles
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ArticleTax & AccountingMarch 19, 2024Auditing reimagined: SAS 145 and the rise of technology-enabled risk managementThis new standard changes the game for auditors to make risk assessments even more effective.
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ArticleTax & AccountingDecember 18, 2023FASB issues standard that enhances income tax disclosuresFASB issues standard that enhances income tax disclosures
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ArticleTax & AccountingDecember 07, 2023FASB issues new segment reporting guidanceFASB issues new segment reporting guidance
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ArticleTax & AccountingOctober 10, 2023FASB improves disclosures based on SEC’s simplification initiativeFASB issues disclosure improvements related to SEC simplification initiative
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ArticleTax & AccountingJuly 14, 2023FASB updates Codification sections for certain SEC guidanceThe FASB has issued ASU No. 2023-03 to update Codification sections for certain SEC guidance
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ArticleTax & AccountingJune 28, 2023FASB proposes improvements to accounting for purchased fin assetsThe FASB has proposed amendments to improve the accounting for purchased financial assets and is seeking comments from stakeholders.
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ArticleTax & AccountingJune 26, 2023ISSB releases first global sustainability standardsISSB releases first global sustainability standards
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ArticleTax & AccountingJune 06, 2023PCAOB issues proposal to increase auditor vigilance against fraud and other noncompliancePCAOB proposal to increase auditor responsibility for fraud and other noncompliance with laws and regulations.
All tax and accounting articles
Latest tax and accounting articles
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ArticleTax & AccountingMarch 19, 2024Auditing reimagined: SAS 145 and the rise of technology-enabled risk managementThis new standard changes the game for auditors to make risk assessments even more effective.
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ArticleTax & AccountingMarch 12, 2024Audit’s digital revolution: how technology is reshaping the industryAuditing is undergoing a shift, largely driven by the relentless march of technology. Data analytics and advanced technology are changing the audit.
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ArticleTax & AccountingMarch 05, 2024Corporate Transparency Act ruled unconstitutional: What it means for Beneficial Ownership ReportingWhat the Corporate Transparency Act district court judgment means for Beneficial Ownership Information reporting, small businesses, and accounting firms.
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ArticleTax & AccountingFebruary 15, 20242023 Tax returns include a whole new world of green energy tax creditsTaxpayers that are preparing their 2023 returns are encountering a host of new and modified credits related to “green energy.” The Inflation Reduction Act of 2022 added some new credits, and modified others, mostly to make them more generous.
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Case studyTax & AccountingFebruary 02, 2024GAO issues 2024 Yellow BookThe U.S. Government Accountability Office (GAO) has issued the 2024 revision of Government Auditing Standards, also known as the Yellow Book. The 2024 revision is intended to enhance how audit organizations manage audit quality.
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Case studyTax & AccountingJanuary 31, 2024Breaking down the Tax Relief for American Families and Workers Act of 2024Key provisions and tax implications of the Tax Relief for American Families and Workers Act of 2024, including what's next for the legislation.
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ArticleTax & AccountingJanuary 18, 2024CCH Axcess™ tips and tricks for the best tax season supportWith these simple tips and tricks, you’ll know exactly where to find the best tax season support for whatever comes your way.
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ArticleTax & AccountingJanuary 17, 2024GASB issues guidance on disclosure of certain risksGASB issues guidance on disclosure of certain risks