IRS Large Business & International Division Continues to Push Targeted Audit Campaigns, Announcing 6 More Areas of Compliance Focus
The Internal Revenue Service’s (IRS) Large Business & International Division (LB&I) recently announced six additional compliance…
Safe Harbor Internal Controls for PACs
The Federal Election Commission (FEC) has published best practices and internal controls in its campaign guide…
IRS Revives Form to Report Nonemployee Compensation
Employers who pay subcontractors nonemployee compensation should be aware of a change coming after 2019. The…
FASB Votes to Delay New Lease Standard Effective Date
On July 17, 2019 the Financial Accounting Standards Board (FASB) voted unanimously to draft an Accounting…
IRS Releases Draft Simplified Tax Return for Seniors
The Internal Revenue Service (IRS) has released a draft of a simplified form for taxpayers age…
Contractors Beware! Changes Coming to Buy American Act Thresholds
The Buy American Act, as the name implies, establishes a preference for American-made products in federal…
IRS Releases Draft 2019 Form 1040 and Schedules
The Internal Revenue Service (IRS) has released a draft of the 2019 Form 1040 and its…
Is an Executor Liable for a Decedent’s Unpaid FBAR Penalties?
English historian Thomas Fuller once wrote, “Travel makes a wise man better but a fool worse.”…
U.S. Expatriate Citizens by Birth and Their U.S. Tax Reporting Obligations
The following situation is quite common. A U.S. expatriate individual is a U.S. citizen by birth…
Stress Less about the CPA
As an accounting student, the three most intimidating letters are: CPA. The process of becoming a…