The Internal Revenue Service doesn’t collect data on taxpayers’ race or ethnicity, but some of its methods could lead to disparities in its audit rate.
Category: NYT Accounting News
Accounting Today news quiz: May 23
Test your accounting knowledge on AI job opportunities, M&A, and more. No. 2 pencil not required!
AICPA names Carla McCall as new chair
The American Institute of CPAs elected the managing partner of AAFCPAs as its next chair.
HSAs come with pitfalls — here’s how to avoid them
They have oft-cited tax advantages, but the available research raises alarms about fees, interest rates and investing in assets other than cash.
IRS extends Free File through 2029
The program with third-party tax vendors will continue for another five years despite the IRS’s recent Direct File pilot test.
CAQ asks PCAOB to delay standards
The Center for Audit Quality wants the Public Company Accounting Oversight Board to postpone sending two of its newly approved standards, on quality control and auditor responsibilities, to the SEC for final approval.
Melancon to retire at year’s end
The long-time head of the AICPA — and one of the foremost leaders of the profession — will step down on Dec. 31
The wisdom of being a lazy CPA
Once you see how much more value you and your managers can deliver to the firm when you’re freed up from doing routine client work, you’ll never want to go back to the old way of doing business.
PCAOB fines MaloneBailey $400K for quality control violations
The Public Company Accounting Oversight Board has levied a $400,000 fine against MaloneBailey and sanctioned the auditingfirm for pervasive quality violations.
GASB plans new standards and guidance for accountants
The Governmental Accounting Standards Board is getting ready to roll out new rules and proposals for state and local governments, including improvements to the financial reporting model, classification of capital assets, and measurement of infrastructure assets.