June 28, 2011
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GASB’s Robert Attmore discusses new pension rules
June 28, 2011 The Governmental Accounting Standards Board is poised to approve new regulations that will have a major impact on the way states calculate their pension liabilities. The changes are meant to make it easier to compare the health of pension funds from one state to the next. They also would have the side […]
Read more- June 27, 2011
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PCAOB Members Question Auditor “Narratives”
June 22nd, 2011 Finance chiefs aren’t likely to favor the accounting oversight board’s proposal to require an Auditor’s Discussion and Analysis report. Public Company Accounting Oversight Board members Jay Hanson and Daniel Goelzer are warning constituents about the possible negative consequences of a PCAOB proposal that would require auditors to spin a “narrative” about their […]
Read more- June 24, 2011
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IRS Increases Mileage Rate to 55.5 Cents per Mile
June 24th, 2011 The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a mile for […]
Read more- June 15, 2011
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IRS Takes Up-Front Approach to Combat Identity Thieves
June 13th, 2011 The Internal Revenue Service is expanding its ability to flag identity theft used to file fraudulent tax returns or employment forms and is moving toward a forward-looking approach to the problem, an agency official said June 9 at an annual software developer conference. Following IRS Commissioner Douglas Shulman’s remarks at the National […]
Read more- June 14, 2011
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IRS Renews Stance on Simplified Research Credit Post-Return
June 10th, 2011 The Internal Revenue Service June 9 renewed its stance that taxpayers cannot make or revoke an election for the alternative simplified research credit after they file their tax returns, bringing disappointment from practitioners interviewed by BNA. IRS’s decision, announced in final rules (T.D. 9528), offers little help to taxpayers struggling with the […]
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