The sharp divergence between Republicans and Democrats over the 21 percent corporate income tax rate was on display Tuesday at the House Ways and Means Committee as Democrats began making the case for a large increase should their party succeed in November’s elections.
GOP’s 21% corporate tax rate locked in by congressional gridlock
The new hedge accounting standard is encouraging more companies to re-evaluate their risk management, according to a new report from Deloitte.
Companies take a new look at net investment hedging after FASB standard
A group of 27 Democratic senators is calling for action in the Senate Finance Committee on extending energy-related tax credits and examining new tax proposals, especially those that incentivize renewable energy projects.
Senate Democrats push for passage of energy-related tax incentives
The Massachusetts Society of CPAs has launched a new program, dubbed “Bridging the Gap,” to educate local firms about boosting diversity and inclusion in the workplace.
MSCPA partners with AICPA, Bentley University, on statewide diversity program
The American Institute of CPAs’ Accounting and Review Services Committee has issued a new standard for accounting and review services as part of an effort to align its standards with both international standards and generally accepted auditing standards.
AICPA harmonizes review standard with international and GAAS rules
Financial revisions and restatements are indicators of audit quality, but they are far from the only ones.
The Massachusetts-based firm will bring accounting and finance services to the office supply company’s small-business customers.
One way for C corporations to reduce taxable income is to utilize an interest charge – domestic international sales corporation (IC-DISC). However, when dealing with C corps, it is imperative the IC-DISC’s ownership structure is correctly established at the onset.
Shareholder tax savings is ultimate goal of IC-DISC ownership structure
Tax preparer groups are coming together to ask for more dedicated support.
Collaboration is key in push for IRS Practitioner Services Division
The Cost Accounting Standards Board, a group set up by Congress in 1970 to make sure federal contractors charge their costs appropriately, is finally making some progress in aligning its 19 cost accounting standards with U.S. GAAP after Congress mandated in 2017 that it do so where practicable.
Cost Accounting Standards Board still working on conforming with GAAP
