The Internal Revenue Service’s proposed regulations on the classification of transactions involving digital content could mean some unexpected tax bills for some publishers, especially those based abroad who sell copyrighted articles to U.S. readers.
Financial Accounting Standards Board Chairman Russell Golden compared the standard-setting process to the new race car movie, “Ford v Ferrari,” even though he admitted the process usually isn’t so speedy.
Plenty of tax deferral and impact investment runway is left even if clients miss the Dec. 31 deadline.
The digital platform will offer licensed tax professionals who prepare and file customers’ individual US federal and state returns.
The draft model will look to ‘address the greatly expanding body of knowledge required of newly licensed CPAs,’ according to the two organizations.
The new platform connect taxpayers with ‘their ideal tax professional.’
The notice delays a requirement for reporting partners’ share of partnership capital.
Financial Executives International and its Committee on Corporate Reporting have released a new guide on internal control considerations for business combinations.
The Global Reporting Initiative has issued a new international tax reporting standard that aims to ensure multinational companies are much clearer about how much they pay in taxes, and where.
The Governmental Accounting Standards Board has proposed implementation guidance with questions and answers to clarify and explain some of GASB’s earlier standards and pronouncements.