Newsletter – The Valdez Review – 1st Qtr
|
|||
|
|
|
Newsletter – The Valdez Review – 1st Qtr
The Financial Accounting Standards Board has released the 2013 U.S. GAAP Financial Reporting Taxonomy. The 2013 taxonomy, which is a set of computer-readable tags for the all the pieces of data in a financial report, is available online, but must be approved by the Securities and Exchange Commission. It contains updates for accounting standards and…
Withholding To Reflect Expiration of 2001 and 2003 Tax Cuts; Guidance Would Be Modified If Congress Acts IR-2012-105, Dec. 31, 2012 WASHINGTON — The Internal Revenue Service today released new income-tax withholding tables for 2013 and issued special instructions on implementing new income tax and Social Security tax rates. In issuing this guidance, the IRS…
R-2012-95, Nov. 21, 2012 WASHINGTON — The Internal Revenue Service today issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2013, the standard mileage rates for the use of a car (also vans, pickups or panel…
The IRS released the 2012 standard mileage rates for business use of automobiles. Taxpayers driving a car, van, pickup or panel truck can use these rates to determine the deductible costs of that vehicle’s operation. 55.5 cents per mile for business miles driven 23 cents per mile driven for medical or moving expenses 14 cents…
New GASB standards require governments to report unfunded pension liabilities State and local governments will be required to report unfunded pension liabilities on their balance sheets for the first time under two standards the Governmental Accounting Standards Board approved Monday. The rule calls for the annual service cost and interest on the pension liability to…
The U.S. Office of Management and Budget (OMB) clearance process for the 2012 OMB Circular A-133 Compliance Supplement (Supplement) is taking longer than expected. Therefore, OMB has provided a final draft of the Supplement to the GAQC to make publicly available so that auditors can use it to begin planning their 2012 single audits. Free…
According to an article in Accounting Today, Beginning in calendar year 2012, all Registered Tax Return Preparers and RTRP candidates must obtain 15 hours of continuing education annually. The programs should include two hours of ethics, three of federal tax law updates and ten of other federal tax law. RTRPS should: 1. Attend a program…
View our monthly newsletter and get tips and tricks on audit and accounting issues, updates on recent accounting pronouncements, news and current events. Newsletter – The Valdez Review – June 2012
The U.S. Internal Revenue Service (IRS) issued a reminder that tax-exempt organizations should not include Social Security numbers (SSN) on publicly disclosed forms. In an email sent April 19, the IRS noted: “By law, with limited exceptions, the IRS has no authority to remove that information before making the forms publicly available.” According to a…
|
|
