Category: AICPA News

The IRS updated its FAQs to explain whether and how to report changes to projected 2021 income for taxpayers receiving advance child tax credit payments.

The employee retention credit was created in March 2020, but changing requirements have caused some confusion over eligibility. It’s important for businesses and their tax preparers to know who can take the credit and how much relief they can receive.

A revenue procedure clarifies Homeowner Assistance Fund payments are excluded from gross income and gives a safe harbor for computing certain itemized deductions.

Erica Williams has been named chairperson of the Public Company Accounting Oversight Board. She will be joined on the board by Christina Ho, Kara Stein and Tony Thompson. Duane DesParte will continue his service on the board and will serve as acting chairperson until Williams is sworn in.

The infrastructure bill that passed the House on Friday and is headed to President Joe Biden’s desk will terminate the employee retention credit early and require broker reporting of cryptoasset transfers.

Practicing due diligence and understanding state and local laws are keys to success for firms that choose to engage with this industry.

The IRS issued the adjusted ceilings, thresholds, and limitations for various retirement plans and individual retirement accounts for 2022.

Lease accounting requirements for federal agencies were amended and clarified Thursday when FASAB issued new guidance.

Forensic accounting and valuation professionals offer advice on how to leverage career and business development at a time of uncertainty.

A concurrent resolution with an objective of providing more transparency to Congress about the fiscal state of the US government passed the House by a voice vote. The Senate has yet to vote on the resolution, which has the AICPA’s backing.