Accounting
Congressional Budget Office Releases 2017 Data on Household Income and Tax Burdens
Last week, the Congressional Budget Office (CBO) published an updated analysis of the distribution of American households’ income and tax burdens for 2017. The new CBO data reinforces existing trends in household income and tax burdens, showing that the federal tax system is progressive and incomes continued to rise in 2017 as part of the…
Read MoreIRS chief grilled about performance during coronavirus crisis
Internal Revenue Service commissioner Chuck Rettig heard complaints from lawmakers about their constituents missing stimulus payments. Original Article Posted at : https://www.accountingtoday.com/news/irs-chief-grilled-about-performance-during-coronavirus-crisis
Read More2020 National Cannabis Business Symposium to be held online
The conference, developed by both the California and Colorado Society of CPAs, will be held virtually on Oct. 26 and 27, 2020. Original Article Posted at : https://www.accountingtoday.com/news/2020-national-cannabis-business-symposium-to-be-held-online
Read MoreIIA offers new framework for internal audit competency
The Institute of Internal Auditors has introduced a new framework for the professional development of internal auditors. Original Article Posted at : https://www.accountingtoday.com/news/iia-offers-new-framework-for-internal-audit-competency
Read MoreStudies question need for auditor rotation
A pair of academic studies casts doubt on the value of mandatory rotation of auditing firms and lead engagement partners. Original Article Posted at : https://www.accountingtoday.com/news/studies-question-need-for-auditor-rotation
Read MoreAICPA, IESBA and IAASB offer guidance on use of specialists amid coronavirus
The document discusses some considerations involving the use of specialists when auditing financial statements during the pandemic. Original Article Posted at : https://www.accountingtoday.com/news/aicpa-iesba-and-iaasb-offer-guidance-on-use-of-specialists-amid-coronavirus
Read MoreDoes Your State Have a Throwback or Throwout Rule?
This week’s state tax map looks at throwback and throwout rules in states’ corporate tax codes. These rules may not be widely understood, but they have a notable impact on business location and investment decisions and reduce economic efficiency for the states which impose such rules. Over the long run, these rules reduce competitiveness while yielding very…
Read MoreA short guide to IRS transcripts
While transcripts are notorious for being complex, they can be incredibly helpful in the hands of tax professionals who know how to use them. Original Article Posted at : https://www.accountingtoday.com/opinion/a-short-guide-to-irs-transcripts
Read MoreTaxation of Tobacco and Vapor Products on the Ballot in Oregon
Oregon voters will weigh in on taxation of tobacco and nicotine products next month. If voters pass Measure 108, the Tobacco and E-Cigarette Tax Increase for Health Programs Measure, it would increase taxes on cigarettes and cigars and introduce a new tax on vapor products beginning January 2021. The measure was passed by the Oregon…
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