1. Articles in category: Global

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    1. Tax executives see tax reform as biggest challenge | Accounting Today

      An 85 percent majority of corporate tax executives perceive tax reform as the biggest challenge they’re facing in the months ahead, according to a new survey. The survey, by Bloomberg BNA, polled more than 250 corporate tax executives at public and private corporations around the country. Most of them perceive the overhaul of the federal tax code as their chief concern as they worry about the impact it will have on their companies.

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    2. IRS sees new phone scam from fake certified letters | Accounting Today

      The Internal Revenue Service issued a warning Thursday cautioning taxpayers and tax professionals about a new scam revolving around the Electronic Federal Tax Payment System, in which criminals are calling innocent taxpayers demanding they make an immediate tax payment through a prepaid debit card. The IRS has been hearing reports about the scam around the country.

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    3. Payroll Internal Controls Checklist | CPA Practice Advisor

      Payroll Internal Controls Checklist | CPA Practice Advisor

      No matter the size of the company or how employees are paid, internal controls are a necessity. Here are my suggestions for payroll-related internal controls that can protect you and your data. Separation of duties. With payroll, a separation of duties is a necessity both to lessen the likelihood of potential fraud and to catch unintended errors. For example, HR may be responsible for setting up new employee information, assigning the wage rate and creating the work schedule.

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    4. Analysis: New tax breaks would cost Georgia $483M

      The Georgia Budget and Policy Institute has done the math on a series of tax breaks the General Assembly passed during the recent legislative session. Added together, 10 bills would reduce state tax revenues by $483 million over five years, according to an analysis the public policy research organization released Wednesday. The biggest impact by far would come from legislation lowering taxes on leased vehicles, which would cost the state almost $227 million in lost revenue. The bill also would…

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    5. IRS Investigated 3,400 Cases of Tax ID Theft, Laundering, Cybercrime and Terrorism in 2016

      In 2016, the Criminal Investigation (CI) division of the Internal Revenue Service initiated 3,395 cases in fiscal year 2016 that focused on tax-related identity theft, money laundering, public corruption, cybercrime and terrorist financing. That's according to the IRS Criminal Investigation annual report, reflecting the significant accomplishments and criminal enforcement actions taken in fiscal year 2016.

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    6. AICPA releases revenue recognition guide | Accounting Today

      The American Institute of CPAs has issued a new audit and accounting guide on the revenue recognition standard. The online edition of the AICPA’s Audit & Accounting Guide on Revenue Recognition aims to help entities and auditors understand, implement and audit the converged standard released in 2014 by the Financial Accounting Standards Board and the International Accounting Standards Board.

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    7. IRS Offers Tax Relief for Hurricane Matthew Victims

      IRS Offers Tax Relief for Hurricane Matthew Victims

      The Internal Revenue Service is giving victims of Hurricane Matthew in North Carolina extra time to file their tax returns and make tax payments. North Carolina victims of the hurricane that left a path of destruction and flooding this past weekend will get until March 15, 2017, to file certain individual and business tax returns and make certain tax payments, with similar relief expected soon for Hurricane Matthew victims in other states, the Internal Revenue Service said Friday.

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    8. IRS Again Turns To Private Collection Agencies | CPA Practice Advisor

      The Internal Revenue Service will again be outsourcing some of its collections of federal tax debts next spring, and has selected four contractors to implement the new program. The new program, authorized under a federal law enacted by Congress last December, enables these designated contractors to collect, on the government’s behalf, outstanding inactive tax receivables.

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    9. IRS Collected More Tax Revenue with Fewer Employees and Lower Budget

      IRS Collected More Tax Revenue with Fewer Employees and Lower Budget

      Despite years of cuts to the Internal Revenue Service budget and its employee count, the agency is nonetheless collecting more tax revenue, according to a new report. The report on IRS compliance activities, from the Treasury Inspector General for Tax Administration, noted that in fiscal year 2015, the IRS continued to lose employees who could provide taxpayer service and enforce the tax laws.

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    10. Many Internal Audit Leaders Don’t Fully Use Professional Standards

      Many Internal Audit Leaders Don’t Fully Use Professional Standards

      Despite the growing attention to internal audit, a new report indicates a significant lack of conformance with and usage of professional standards. The Institute of Internal Auditors’ (IIA) International Standards for the Professional Practice of Internal Auditing represent minimum requirements expected of all internal audit functions. The standards are considered the bedrock for effective performance, and conformance with them is expected for all certified internal auditors.

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    11. Troubling Trends Seen in SOX 404 Disclosures

      Troubling Trends Seen in SOX 404 Disclosures

      Sarbanes-Oxley disclosures on management assessment of internal controls over financial reporting are indicating some worrying trends, according to a new report. The report, from the research firm Audit Analytics, found that while the number of adverse disclosures under Section 404 of the Sarbanes-Oxley Act dropped in fiscal year 2015 to 202 disclosures, compared to 228 for fiscal year 2014, the total for 2015 was nonetheless the second highest in the last seven years.

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    12. IRS Responds to Taxpayer Advocate Recommendations

      IRS Responds to Taxpayer Advocate Recommendations

      National Taxpayer Advocate Nina Olson has posted responses from the Internal Revenue Service to her recommendations for improving taxpayer service, along with papers delivered by presenters at an international conference her office convened last November on taxpayer rights. Olson made 116 administrative recommendations for the IRS in her annual report to Congress last year, highlighting the most serious problems confronting taxpayers.

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    13. IRS Extends Tax Deadlines for Louisiana Storm Victims

      IRS Extends Tax Deadlines for Louisiana Storm Victims

      The Internal Revenue Service is giving victims of the recent catastrophic storms and flooding in Louisiana until Jan. 17, 2017 to file some of their individual and business tax returns and make certain tax payments. The IRS said Monday that they, along with workers who are helping with relief activities and are affiliated with a recognized government or philanthropic organization, also qualify for tax relief.

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    14. Internal Audit Leveraging Data Visualization Tools

      Internal Audit Leveraging Data Visualization Tools

      Internal audit departments are making greater use of innovative technologies such as data visualization, according to a new report. The report, from Deloitte Global, foresees an increase in dynamic reporting. The use of static text documents and presentations to communicate important information from internal auditors will decline as they rely more on dynamic visualization tools.

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    15. IRS Warns of Robocalling Scammers

      IRS Warns of Robocalling Scammers

      The Internal Revenue Service is seeing a big increase this summer in automated phone calls from con artists pretending to work for the IRS calling innocent taxpayers demanding overdue taxes. The criminals leave urgent callback requests on voice mail telling taxpayers to call back to settle their “tax bill.” The bogus calls generally purport to be the last warning before the IRS takes legal action against unsuspecting taxpayers.

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    1-24 of 152 1 2 3 4 5 6 7 »
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