FAF reports on activity at FASB and GASB
The Financial Accounting Foundation released its annual report, offering an overview of its activities in 2024, and at the two standard-setters it oversees.
The basics of S corporations — and the pitfalls for small businesses
The structure has been delivering tax savings to advisory practices and other professional services firms for decades. But experts say sometimes it’s not the best fit.
Accounting class-action lawsuits rose slightly last year
The number of accounting-related securities class-action filings increased slightly in 2024, but were filed against smaller companies, according to a new report.
Managing a multigenerational team begins with understanding
Millennials and Gen Z are increasingly populating the accounting workplace, bringing different expectations, work styles and technological proficiencies.
IRS whistleblower Gary Shapley to be named acting commissioner
The former special agent in the Criminal Investigation division who probed Hunter Biden’s taxes is expected to head the IRS.
IRS forces sale of LLC on innocent co-owner
A court upheld the Internal Revenue Service’s forced sale of a co-owned dental practice for one owner’s tax debt.
Digits takes on the big guys, and other tech stories you may have missed
Plus, cyber teams may not be reporting everything they should, and other developments in technology this past month.
In the blogs: Lotus operandi
IRS happenings; minimal talk of de minimis; new blog on the block; and other highlights from our favorite tax bloggers.
National debt keeps growing, but not fully accounted for
The federal government’s financial condition worsened by $4.7 trillion in the past year, according to a new report timed to coincide with Tax Day.
Lawmakers reintroduce bill to recognize accounting as STEM subject
The bill, backed by the AICPA, would enable K-12 STEM funding to be used for accounting awareness and education and eventually help with the talent shortage.