News

Senior Leaders Say Big Data, Misaligned Incentives and Bureaucracy Lead to Bad Decision Making

Posted: February 4, 2016
Senior Leaders Say Big Data, Misaligned Incentives and Bureaucracy Lead to Bad Decision Making  Senior leaders are struggling to make the right decisions, with 72% of organizations admitting to at least one strategic initiative failing in the last three years as a result of flaws in their decision making process.

NASBA and AICPA Re-Issue Exposure Draft on Proposed CPE Revisions

Posted: February 2, 2016
 NASBA and AICPA Re-Issue Exposure Draft on Proposed CPE Revisions Based on comments received during the initial comment period, the National Association of State Boards of Accountancy and the American Institute of CPAs have re-issued their Exposure Draft on the proposed revisions to the Statement on Standards for Continuing Professional Education Programs for public comment.

AICPA Recommends Changes for Draft IRS Estate Tax Form and Instructions

Posted: February 2, 2016
AICPA Recommends Changes for Draft IRS Estate Tax Form and Instructions  The American Institute of CPAs has submitted comments to the IRS and U.S. Department of the Treasury about IRS draft Form 8971, Information Regarding Beneficiaries Acquiring Property from a Decedent, and draft instructions.

IRS Phone Fraud Scams Reach Epidemic Proportion

Posted: January 27, 2016
IRS Phone Fraud Scams Reach Epidemic Proportion The Treasury Inspector General for Tax Administration urges taxpayers to remain on “High Alert” and has announced additional outreach efforts to prevent them from falling victim to criminals who impersonate IRS and Treasury employees this filing season.

FASB Proposes Improvements to Financial Reporting of Pension and Other Postretirement Benefit Plans

Posted: January 26, 2016
FASB Proposes Improvements to Financial Reporting of Pension and Other Postretirement Benefit Plans The Financial Accounting Standards Board has issued two proposed Accounting Standards Updates intended to improve financial reporting by employers related to defined benefit pension and other postretirement benefit plans.

IRS Urges Tax Preparers to Perform Deep Security Scans of Computer Drives

Posted: January 22, 2016
IRS Urges Tax Preparers to Perform Deep Security Scans of Computer Drives The Internal Revenue Service urges all tax return preparers to get off to a clean start this January and perform a security deep scan of their computer drives and devices.

IRS Ready to Start 2016 Tax Season

Posted: January 15, 2016
IRS Ready to Start 2016 Tax Season The Internal Revenue Service (IRS) has announced that the nation’s 2016 individual income tax filing season opens January 19, with more than 150 million tax returns expected to be filed this year.

Americans Experienced Substantial Increase in Financial Satisfaction Over the Past Year

Posted: January 14, 2016
Americans Experienced Substantial Increase in Financial Satisfaction Over the Past Year Spurred by significant reductions in inflation and loan delinquencies, the 2015 fourth quarter Personal Financial Satisfaction Index released by the American Institute of CPAs shows that Americans' personal financial satisfaction has increased substantially from a year ago.

Update on NJ Efile Requiring Driver License Info

Posted: January 11, 2016
Update on NJ Efile Requiring Driver License Info In response to the NJCPA Member Open Forum discussion about NJ efile requiring driver license info, the NJCPA reached out to the Acting Director of the New Jersey Division of Taxation, John Ficara. Here is his response.

NJCPA Congratulates New Acting Director of the NJ Division of Taxation

Posted: January 11, 2016
NJCPA Congratulates New Acting Director of the NJ Division of Taxation The New Jersey Society of CPAs welcomes John Ficara in his new position as Acting Director of the New Jersey Division of Taxation.