“Our team members are committed to making a positive difference for our clients and our community, so using this time to highlight a few local nonprofits felt like the best way to celebrate the work our CPAs do,” said Jennifer Lehman, the CEO of Hantzmon Wiebel LLP.
E-filing problems plague some Sept. 15 tax returns
Tax practitioners who use two CCH return preparation products reported problems with corrupted files and an inability to e-file returns on Sept. 15, resulting in tax returns that were not filed on time. Due to technical problems with CCH’s e-filing system, users were unable to get their returns into the e-file queue for much of […]
Public-private sector experience benefits quality across accounting – Accounting Today
We often hear folks raise the issue of the “revolving door” between the private and public sectors as a potential area of concern for the accounting profession — an idea that I could not disagree with more. As I learned first-hand as the former chair of the Financial Accounting Standards Board and as a partner […]
FASB’s new chairman plans review of impact of standards – Accounting Today
Richard Jones, the new chairman of the Financial Accounting Standards Board, said Tuesday he is making post-implementation reviews of standards one of his top priorities, as well as taking a closer look at all the many projects on FASB’s crowded agenda. At a session Tuesday during the American Institute of CPAs’ virtual national conference on […]
Final regs. govern eligible terminated S corporation rules
The IRS on Tuesday issued final regulations (T.D. 9914) under Secs. 481(d) and 1371(f) regarding the treatment of “eligible terminated S corporations” (ETSCs). The regulations provide guidance on the definition of an ETSC and rules relating to distributions of money by such a corporation after its post-termination transition period. They also amend the regulations under […]
U.K. Names Chief for New Accounting Board – Wall Street Journal
The U.K.’s new Accounting Standards Endorsement Board will be responsible for adopting international accounting rules. Photo: hannah mckay/Reuters By Nina Trentmann Close Nina Trentmann Sept. 14, 2020 5:05 pm ET The U.K. government named a chairman for a new accounting standards board, which is expected to be operational once the country’s transition period with the […]
Art of Accounting: Planning a job – Accounting Today
A lot of colleagues call me and complain that their staff are not doing as good a job as they need to. After a brief discussion, it appears the problem lies with the owner or partner because they have shortcut the planning process. This is not an isolated issue. Everyone always seems to be perpetually […]
The Average Cost of Living by State, and Why Ignoring it Could Sink Your Business
You hear about it all the time in the news—Cost of living rising! Maybe you think about it on a daily basis—Do I earn enough to cover my standard of living? But, how often have you thought about the relationship between the cost of living and your business? If it’s crossed your mind before, then […]
Cheyenne Accounting firm is Gold Level Partner with UW – wyomingnewsnow.tv
CHEYENNE, Wyo. (Wyoming News Now) – The Cheyenne certified public accountant (CPA) firm of McGee, Hearne and Paiz (MHP) LLP is the University of Wyoming College of Business’ first Business Partners Recognition Program Gold Level partner. MHP is currently the only Gold Level partner for the academic year among the 200 College of Business partners. […]
IRS issues 2020–2021 per-diem rates
Business travelers who incur expenses while traveling away from home have new per-diem rates to use in substantiating certain of those expenses (Notice 2020-71). The new rates are in effect from Oct. 1, 2020, to Sept. 30, 2021. On Friday, the IRS provided the 2020–2021 special per-diem rates, including the transportation industry meal and incidental […]