IRS points to new limits on like-kind exchanges

The Internal Revenue Service is reminding taxpayers about a change under the new tax law that limits exchanges of property.


AICPA drafts guidance on inventory valuation

The Financial Reporting Executive Committee eventually plans to publish a broader Business Combinations Accounting and Valuation Guide.


Majority of millennials believe current tax system is unequal: Study

A wide-ranging survey on economic issues by EY found that millennials see the current U.S. tax system favoring high-income individuals and companies.


FASB proposes tweaks to financial instruments standards

The proposals would make narrow improvements to the rules for credit losses, hedging, and recognition and measurement.


Hedge fund investors lose key tax break for management expenses

For some hedge fund investors, President Donald Trump’s tax overhaul adds insult to the injury from poor investment performance.


Sales tax collection gone wrong

False accusations against a taco chain in Seattle offer a cautionary tale for businesses and their advisors.


Will accountants become the weavers of the 21st century?

Accounting is facing a slow-moving existential crisis, says institutional investor Jon Lukomnik.


The fundamentals of the IRS OIC program

Your clients need to know these 14 tax settlement basics.


What CPAs need to consider about stablecoins

The cryptocurrency is pegged to a fiat currency like the U.S. dollar or to assets like gold.


IASB proposes deferring insurance standard for a year

The International Accounting Standards Board voted to propose a one-year delay, so the new rules would take effect in 2022, instead of 2021.