Category: AICPA News

After hitting a historic low at the end of 2022, the outlook for the U.S. economy rebounded somewhat in February 2023, but inflation remains a concern, according to the first-quarter Business and Industry Economic Outlook Survey released by AICPA & CIMA.

Human resource experts and accounting firms offer ways to help remote hires connect with their team and their new employer’s culture.

The Senate voted 54–42 on Thursday to approve Werfel, a former acting IRS commissioner who has served under both Democratic and Republican administrations.

The IRS announced that it will soon be able to scan paper Forms 1040 and 941 instead of inputting them by hand. The acting commissioner describes the expansion as “another milestone” in the agency’s transformation.

New guidance on required minimum distributions reporting provides relief for financial institutions that due to a change to the RMD start date rules made by the SECURE 2.0 Act, may have incorrectly provided RMD statements to IRA owners who turn 72 in 2023.

The AICPA Auditing Standards Board issues SAS No. 149 and SQMS No. 3. SAS No. 149 introduces the term “referred-to auditor” and revises the definition of component auditor.

A provision in the SECURE 2.0 Act enables greater flexibility in saving for children’s education while also helping 529 plan beneficiaries to get a jump-start on retirement savings.

The three-day forums, last held in person in 2019, are designed specifically for CPAs and other tax professionals.

Find out the types of unclaimed property notices companies receive and best practices on handling them.

In determining the beginning of the lookback period for refund claims for returns with due dates postponed by Notice 2021-21 or Notice 2020-23, the IRS will disregard the periods from April 15, 2020, to July 15, 2020, and from April 15, 2021, to May 17, 2021. This change will align the lookback periods with the postponed return filing due dates.