In a letter sent to the Senate Finance Committee last week, a coalition of six business organizations, including the American Institute of CPAs, emphasized their opposition to a proposal that would force many of the groups’ members to use the accrual method of accounting instead of the cash method of accounting for tax purposes.
The American Institute of CPAs has unveiled a new version of its Total Tax Insights calculator just before the start of income tax-filing season. The calculator, which can help taxpayers gauge the impact of twenty different taxes, reflects data applicable in 2013.
The IIRC issued a final framework for integrated reporting in an effort to promote a more cohesive and efficient approach to corporate business reporting as well as to improve the quality of information available to stakeholders.
The AICPA has sent a letter to the chairman and ranking member of the Senate Committee on Finance opposing any limitation on the use of the cash method of accounting on natural persons, pass-through entities, personal service corporations, and farmers.
The federal tax law provides relief to victims of natural disasters, but taxpayers generally have to wait until the government works its way through a lengthy process for each specific event. Now, the AICPA has proposed a faster solution.
The John L. Carey Scholarship is a one-year, $5,000 scholarship specifically designed to assist students who have decided to make the transition from liberal arts and other nontraditional business backgrounds to pursue graduate accounting degrees and become CPAs.
A new guide released on November 8 by the Financial Reporting Executive Committee of the AICPA provides accountants, auditors, and valuation specialists with guidance for impairment testing of goodwill.
In a letter to US senators Tom Carper and Tom Coburn, the AICPA encouraged the Senate's support of legislation that would include a provision calling for the establishment of government-wide financial data standards for federal funds.
The AICPA identified seventeen areas in which the IRS should provide additional guidance to taxpayers and tax practitioners as a result of the US Supreme Court's decision that Section 3 of DOMA was unconstitutional.
The AICPA announced Bob Graham, former US Senator and former Florida Governor, as the recipient of the AICPA Medal of Honor. Graham was presented the award by AICPA Chairman Richard Caturano, CPA, CGMA.
The SEC adopted rules establishing a permanent registration regime for municipal advisors as required by Dodd-Frank; however, an accountant who provides audit or other attestation services will not have to register as a municipal advisor.
The American Institute of CPAs (AICPA) has created a questions-and-answers page on the tax section portion of its website to help practitioners working to complete tax returns during the federal government shutdown.
Despite optimism in the US economy dropping 4 percentage points in the third quarter of 2013, business executives continue to raise their expectations for hiring in the coming year, as the number of companies that plan to add new employees increased by 3 percent.
The more Congress tries to simplify the tax code, the more complicated things seem to get. At least that's what the American Institute of CPAs (AICPA) believes about a proposal to consolidate the myriad of tax rules for pass-through entities.