Category: AICPA News

Forgiveness amounts are excluded from gross income but included in gross receipts for purposes including determining “small business taxpayer” status under Sec. 448(c).

Top-performing client advisory services practices are more likely to follow certain best practices, the CPA.com and AICPA PCPS CAS Benchmark Survey found.

Tax professionals and taxpayers will have to create an account with a third-party provider, ID.me, which requires uploading an image of a government-issued ID and a selfie, in order to access certain IRS online tools and portals.

Businesses that receive certain forms of government assistance will be required to disclose that aid in the notes to their annual financial statements under a standard the Financial Accounting Standards Board issued Wednesday.

Here’s what private company finance personnel need to know about CECL as the time for implementation approaches.

Annette Nellen examines possible tax policy implications as more people shed tradition work roles and become “digital nomads.”

Balancing business goals with employee experience can provide the best path forward as hybrid working becomes commonplace.

Nonpublic lessees such as private companies, not-for-profits, and employee benefit plans will be permitted to elect risk-free rates for lease accounting by class of underlying asset rather than at the entitywide level under a new rule issued Thursday by FASB.

Private companies and not-for-profits will not see further relief from the effective date of FASB’s new lease accounting standard after the board voted Wednesday to reject a request for a two-year extension.

The IRS issued updated income tax brackets and other inflation-adjusted amounts under 62 Code sections, including a new standard deduction amount.