PCAOB looks for more input on proposed requirements for use of other auditors

The Public Company Accounting Oversight Board wants to hear more comments about a proposal to strengthen its existing requirements for a lead auditor’s use of other auditors and impose a more uniform approach.


McCain urges bipartisan tax effort, echoing health demands

Senator John McCain of Arizona is laying down the same marker on tax legislation as he did on health care, demanding regular order and support from both parties.


IRS mulls changes in advance pricing agreements

The Internal Revenue Service’s Advance Pricing and Mutual Agreement Program is looking for comments on a proposed revision to the template for advance pricing agreements.


FloQast releases cloud connector for Oracle

The tool will be available for SAP and Microsoft ERP suites by the end of the year.


Graham-Cassidy shelved; GOP promises to return to health care after tax reform

Senate Republicans gave up on their last-ditch bid to repeal Obamacare Tuesday as opposition in their own ranks ended months of fruitless efforts to deliver on a seven-year promise, and leaders said they would turn instead to overhauling the U.S. tax system.


Trump meets with House Democratic tax writers in push for bill

President Donald Trump is scheduled to meet Tuesday with a bipartisan group of House Ways and Means Committee members, the day before he heads to Indiana to unveil his tax plan.


IRS urged to extend VITA tax prep program

The Internal Revenue Service needs to improve its Volunteer Income Tax Assistance to make sure it’s reaching underserved populations, according to a new report.


IRS updates per diem rates for lodging, meals and incidental expenses

The Internal Revenue Service has issued its annual update describing the 2017-2018 special per diem rates that taxpayers can use to substantiate the amount of ordinary and necessary business expenses they incur while traveling away from home.


FASB proposes lease accounting changes for land easements

The Financial Accounting Standards Board has a proposed accounting standards update to clarify how to apply its new lease accounting standard to land easements.


Art of Accounting: Quoting hourly rates

Clients buy something they need or solutions to problems, not hours. Here is a situation that has actually occurred in a client’s legal matter.