The board approves eight firm and engagement metrics for disclosure and adds to the disclosures it requires during annual reporting and special reporting periods. It also approves its 2025 budget and puts any action related to NOCLAR on hold until 2025.
Category: AICPA News
IRS will accept duplicate dependent returns submitted with an IP PIN
Beginning with the 2025 filing season, the IRS will accept Forms 1040, 1040-NR and 1040-SS even if a dependent has already been claimed on a previously filed return if the primary taxpayer on the second return includes a valid identity protection personal identification number.
Education program expands to welcome more CPA licensure candidates
The Experience, Learn and Earn program now offers an affordable path to 150 credit hours to a larger group of accounting graduates.
PKF O’Connor Davies strikes a deal with private equity
The top 30 firm announces investment by two entities in the continuation of an industry trend.
PCAOB amendment addresses registration of inactive firms
The adopted rule empowers the PCAOB to withdraw the registration of firms that don’t file annual reports and don’t pay annual dues for two consecutive years.
FASB seeks comments on newly proposed interim reporting guidance
The guidance is intended to improve and clarify current guidance as opposed to fundamentally changing the nature of guidance in FASB ASC Topic 270, Interim Reporting.
AICPA to Congress: Delay needed in BOI reporting deadline
Without a delay, “millions of small business owners become accidentally and unknowingly delinquent in their compliance,” reads the letter, signed by CEO Barry Melancon, CPA, CGMA.
Employers focusing on starting salaries and workload to ease pipeline pain
Accounting graduates are seeing higher initial pay, and a majority of large firms plan to address workload issues in the next six months. These trends are welcomed, but more is needed, writes Sue Coffey, CPA, CGMA, CEO–Public Accounting for the Association of International Certified Professional Accountants.
Taxpayer advocate: Unprocessed ERC claims could total 1 million at year end
National Taxpayer Advocate Erin Collins told the AICPA & CIMA National Tax Conference that the number of unprocessed employee retention credit claims will grow before the final filing deadline in April.
Financial planners and caregiving: Helping clients manage the challenges
Planning for caregiving involves immediate and future financial implications along with tax considerations and documentation. Preparing for eventual life needs provides clients and their caregivers emotional support along with clear direction about the financial possibilities.