Tax news and information - Journal of Accountancy
Nov 1, 2024 · Annual inflation adjustments announced for tax year 2025. The IRS on Tuesday provided its annual inflation adjustments for over 60 tax provisions in tax year 2025, including increases in the standard deduction for married couples and single individuals. October 17, 2024.
Tax, accounting, auditing news - Journal of Accountancy
Nov 13, 2024 · Serious concerns facing accounting in the government space can be solved only by a multistakeholder commitment to improved conditions, an AICPA/NASACT report finds. Next 20. The latest news from the Journal of Accountancy, covering accounting, financial reporting, auditing, taxation, financial planning, technology, and more.
Journal of Accountancy - Accounting, tax, auditing news
The Journal of Accountancy is the ultimate resource for today’s CPA, providing daily professional and regulatory updates, breaking news and videos.
Annual inflation adjustments announced for tax year 2025
Oct 22, 2024 · The standard deduction for married couples filing jointly for tax year 2025 increases to $30,000, up $800 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises to $15,000 for tax year 2025, up $400. For heads of household, the standard deduction will be $22,500 for tax year 2025, up ...
CRFB leader: Tax policy may not be a Trump administration high …
Nov 11, 2024 · Tax policy may not rank as high a priority for the incoming presidential administration as once thought, the president of the nonpartisan Committee for a Responsible Federal Budget said Monday at the opening of the 2024 AICPA & CIMA National Tax Conference. "I will tell you that from where the Trump administration is starting to look at things ...
Taxpayer advocate: Unprocessed ERC claims could total 1 million …
Nov 12, 2024 · The IRS could have about 1 million employee retention credit (ERC) claims remaining to process by the end of the year, the national taxpayer advocate said Tuesday at the AICPA & CIMA National Tax Conference. "That is a huge lift," Erin Collins said. "This is not a five-minute exercise." And the number likely will increase until April 15, the ...
Individual income taxation - Journal of Accountancy
Annual inflation adjustments announced for tax year 2025. The IRS on Tuesday provided its annual inflation adjustments for over 60 tax provisions in tax year 2025, including increases in the standard deduction for married couples and single individuals. October 11, 2024.
TIGTA says IRS should review $42 billion in ERC claims
October 9, 2024. TOPICS. In its attempt to speed processing of employee retention credit (ERC) claims, the IRS changed its policy for pre-refund examinations and should consider reviewing nearly 185,000 claims totaling almost $42 billion, the Treasury Inspector General for Tax Administration (TIGTA) said in a recent report (TIGTA Rep't No. 2024 ...
Accounting & reporting news and resources - Journal of …
Oct 1, 2024 · New crypto accounting rules may spur early adoption. The standard is so beneficial that cryptoasset holders may not want to wait until ASU 2023-08 officially takes effect. The latest accounting and financial reporting news and insights from the Journal of Accountancy, the ultimate resource for today’s CPA.
Audit & assurance news and resources -- Journal of Accountancy
Oct 14, 2024 · The data-driven audit: Technology and the future of auditing. Cathy Rowe, Senior Vice President and Segment Leader, U.S. Professional Market, Wolters Kluwer Tax & Accounting North America, discusses how data-driven insights combined with analysis and guidance can make audits more thorough and help firms make better decisions. October 31, 2024.