Category: AICPA News

For accountants, especially those in the tax and personal financial planning worlds, the passing of Sidney Kess at age 97 is “like losing a parent to the profession,” writes Andrea Millar, CPA/PFS, who shares her memories of a legend who educated countless CPAs and helped her grow the AICPA Personal Financial Planning section.

A new guide posted by the Financial Crimes Enforcement Network describes BOI rules, answers questions, and provides tools to assist with compliance with the BOI reporting rules.

‘Tsunami’ of claims filed for employee retention credit almost 2 years after it ended caught the attention of the IRS. Experts say that required the IRS to take action to halt fraud.

Kess, who died at age 97, was “a friend to everybody” – and a strong proponent of sharing knowledge with others.

A new California law is the latest “market driver” pushing ESG reporting forward. With regulations rapidly developing on a global scale, the time has arrived for CPA firms to grab the wheel.

The AICPA Professional Ethics Executive Committee has approved changes to the Code of Professional Conduct related to attest client fees and ethical responsibilities for testing for professional qualifications and competencies.

The IRS issues a moratorium on new ERC claims processing through at least the end of the year and allows taxpayers to withdraw claims that have been filed but not processed.

The opportunities, incentives, and rationalizations to commit fraud abound. Recall what the practitioner’s responsibilities are in an assurance engagement and be sure you are playing your part to ensure the work you do continues to help protect businesses and stakeholders.

In advance of proposed regulations, the IRS provided interim guidance to help corporations determine whether they are subject to the new corporate alternative minimum tax and how to calculate the tax, including how to determine financial statement income and applicable financial statement income.

Fifty-seven percent of North American CFOs rate current economic conditions as good or very good — up from 34% last quarter — according to a third-quarter survey by Deloitte.