IRS extends deadlines in N.C. counties affected by Hurricane Florence

The IRS announced that it is extending tax deadlines starting Sept. 7, 2018, until Jan. 31, 2019, for eight counties in North Carolina.

How cybercriminals prey on victims of natural disasters

Natural disasters such as Hurricane Florence provide cybercriminals with an opportunity to cause further misery for victims and businesses that already are under siege.

IRS issues proposed regs. for GILTI inclusions

The IRS issued proposed regulations implementing Sec. 951A’s global intangible low-taxed income provision, which requires a US shareholder of a controlled foreign corporation to include this income in the shareholder’s gross income.

FinREC issues working draft on multiemployer benefit plans

The AICPA Financial Reporting Executive Committee (FinREC) issued a working draft of a proposed chapter on multiemployer benefit plans and illustrative financial statements, which will be added to the AICPA Audit and Accounting Guide Employee Benefit Plans.

States’ deregulatory push threatens CPA licensure

The CPA profession organizes resistance to legislative proposals that would reduce state licensing requirements.

U.S. economic enthusiasm remains high

Tariffs, rising interest rates, and difficulty finding workers are not enough to slow projected growth, according to a survey of finance decision-makers.

Launch of CPA Exam in Europe provides convenience for candidates

Beginning next month, CPA candidates in Europe will no longer have to undertake intercontinental travel to sit for the CPA Exam.

GASB clarifies majority equity interest reporting rules

Clarifying guidance issued by GASB explains that state and local governments are required to consider the definition of an acquisition in their accounting for majority equity interest in an organization.

FASB simplifies accounting for cloud computing service costs

FASB issued new rules that are designed to reduce complexity for the accounting for costs of implementing a cloud computing service arrangement.

12 US cities where accountants draw higher pay

Two new salary guides show higher pay benchmarks for accountants in several locations in California and the Northeast.