Accounting firms are beginning to wade into the use of blockchain technology for audits, but with caution as the technology spreads beyond the cryptocurrency space where it’s been used for digital assets like Bitcoin.
Many dark money groups that raise funds for political and social causes and don’t pay taxes aren’t notifying the Internal Revenue Service of their intent to operate as tax-exempt organizations under section 501(c)4 of the Tax Code and haven’t been penalized, according to a new report.
The proposed changes could have the potential for expanding future enforcement proceedings.
Changes to PCAOB quality control standards could lead to more exposure for audit firms
The average U.S. household is paying an annual surtax of more than $3,000 to subsidize taxpayers who aren’t paying all they owe, a new report from the Taxpayer Advocate Service found.
IRS’s failure to collect from tax cheats could cost you ,000 a year
The Internal Revenue Service debuted a new Gig Economy Tax Center on its IRS.gov website to help taxpayers who work with companies like Uber and Airbnb meet their tax obligations.
CPAs should be wary of these seven client requests around revenue recognition.
Independence trap: Helping clients with rev rec implementations
The International Ethics Standards Board for Accountants has released a set of revisions to the International Code of Ethics for Professional Accountants, making some changes in the independence standards for assurance engagements, other than audit and review engagements.
IESBA revises assurance independence standards for international code of ethics
Windes merges in Smith, Linden & Basso; UHY Advisors acquires Stewart, Beauvais & Whipple; TYS merges with Lefkowitz; and McGuire Sponsel acquires Align Global Consulting.
The National Society of Accountants is urging accounting undergraduates attending two- or four-year institutions to apply.
The job numbers were boosted by employment in professional and business services.
