News

Tax

GAO: 89 Percent of Paid Preparers Made Mistakes on Returns

During undercover site visits to 19 randomly selected commercial tax-preparation businesses, only two preparers calculated the correct refund amount on a taxpayer’s return, according to a new study released by the US Government Accountability Office (GAO) on Tuesday.
A&A

Audits of Special Purpose Frameworks: Obtaining Substantive Evidence from Engagement Letters, Part 2

Additional reasons why the engagement letter is the linchpin of the audit.
A&A

Bramwell’s Lunch Beat: CVS Is Now $20 Million Poorer Over Accounting Misdeeds

Here are “Bramwell’s Lunch Beat” menu items for April 9.
Wealth management

How FATCA Compliance Just Got Easier

Those who have to deal with the Treasury Department's mind-bending international tax rules have just caught a break.
Tax

Koskinen Calls on Congress to Give IRS Oversight of Tax Return Preparers

During a Senate Finance Committee hearing on Tuesday morning, the head of the IRS urged lawmakers to pass legislation that would authorize the agency to regulate the nation’s estimated 600,000 to 700,000 paid tax return preparers.
Tax

Bramwell’s Lunch Beat: Some Tax Pros Prey on the Poor

Here are “Bramwell’s Lunch Beat” menu items for April 8.
Practice

Never Mind the Answers; What Are the Questions?

There's a theory going around that truly successful business people listen more than they talk.
Practice Management

How to Evaluate 529 Plans

There's a bewildering array of these powerful college savings plans; here are some tips on how to pick one.
Tax

Senate Schedules Hearing on ‘Unethical’ Tax Preparers

Two sets of panelists will discuss what to do with tax return preparers who lack proper certification during a Senate Finance Committee hearing that begins at 10 a.m. ET on April 8.
Tax

Bramwell’s Lunch Beat: Whistleblowers Get Rewarded by IRS

Here are “Bramwell’s Lunch Beat” menu items for April 7.
Practice Management

Help to the Finish Line: How to Manage Your Time as April 15 Approaches

A few rational choices when you're in seemingly irrational situations.
Community News

Why Is This CPA Walking 2,826 Miles?

Frank Ryan talks to AWEB as he walks from coast to coast for atonement and gratitude and charity.

Editor's Picks: Why Public Accounting? Vital Soft Skills; Using Client Data

If you need to expand your reading horizons on this Friday, consider these fine offerings from other Sift Media publications.
Tax

Bramwell’s Lunch Beat: Them’s the (Tax) Breaks

Here are “Bramwell’s Lunch Beat” menu items for April 4.
Practice Management

Ignorance is Bliss? Not When It Comes to Tax Prep

We should be afraid of the lack of awareness and familiarity and sheer laziness among unqualified tax preparers.
Tax

Finance Committee OKs Extending Most Expired Tax Breaks

The Senate panel voted today to revive about 50 of the 55 tax breaks that expired at the end of 2013, including benefits for auto-racing tracks, wind energy, and bonus depreciation for businesses. The package of tax "extenders" still needs the support of the full Senate and House.
A&A

New SASB Standards Target Technology and Communications Companies

A new set of provisional accounting standards released Wednesday by the Sustainability Accounting Standards Board (SASB) provides guidance to companies in the technology and communications sector on how to disclose environmental, social, and governance material issues.
A&A

Bramwell’s Lunch Beat: Revamped Audit Report Would Keep Lawyers Busy

Here are “Bramwell’s Lunch Beat” menu items for April 3.
Tax

Senate Takes a Fresh Look at 'Dead' Tax Breaks

Senate Finance Committee proposes new tax extender legislation—do the provisions have a chance?
A&A

Audits of Special Purpose Frameworks: Obtaining Substantive Evidence from Engagement Letters

Engagements letters should not be a routine procedure—here's how to take full advantage of them.

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