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Accounting/Auditing >> |
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ICPAS Committee Response to AICPA
The Employee Benefits Committee and the Accounting Principles Committee responded to the AICPA's working draft of the proposed Audit
& Accounting Guide,
Employee Benefit Plans.
Read More (PDF).
(ICPAS)
Technical Updates
Below are the most recent exposure drafts. Review the complete
list on the ICPAS website:
Accounting, Auditing, Governmental, Compilation
and Review.
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IASB |
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Improvements to IFRSs
(Issued 6/22/11)
Read More.
Comment deadline: 10/21/11
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PCAOB |
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Concept Release on Possible Revisions to PCAOB Standards Related to Reports on Audited Financial Statements and Related Amendments to PCAOB Standards
(Issued 6/21/11)
Read More
(PDF).
Comment
Deadline: 9/30/11
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SEC |
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Broker-Dealer Reports
(Issued 6/15/11)
Read More
(PDF).
Comment
Deadline: 60 days after publication
in the Federal Register
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Implementation Guidance
ICPAS maintains
a table of newly issued
Accounting,
Auditing,,
Governmental,,
Compilation
and Review
standards, with a link to the corresponding resources
for members.
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Tax Matters >> |
Taxation
Committee Reports
Chicago Employers' Expense Tax Update
"The EET commonly known as the 'Head
Tax' imposes a tax on employers ...
based on the number of commission
merchants or full-time employees
employed or hired ... to perform work or
render services in whole or in part
within the City of Chicago."
Read More.
(Taxation State & Local Committee)
Catch up on Past Taxation Committee Reports
IRS
Briefs
IRS Releases Spring Income Statistics
"Taxpayers filed more than 4.3 million
returns with adjusted gross income of
$200,000 or more for tax year 2008."
Read More. (IRS)
Mileage Rate Increased to 55.5 Cents
"The IRS ... announced an increase in the optional standard mileage rates for the final six months of 2011."
Read More.
(IRS)
ETAAC Delivers Report to
Congress
"The Electronic Tax Administration
Advisory Committee ... released its 2011
Annual Report ... [and] discusses five
groups of recommendations on issues in
electronic tax administration."
Read More.
(IRS)
IRS
Technical Guidance
Notices
Notice 2011-47
suspends certain requirements under
section 42 of the Internal Revenue Code
for certain low-income housing credit
properties in the United States as a
result of the devastation caused by
severe storms, tornadoes, and flooding
in Missouri.
Notice 2011-55
suspends information reporting
requirement under sections 6038D and
1298(f) for taxpayers that may be
subject to reporting under those
sections for taxable years beginning on
or after March 18, 2010.
Notice 2011-56
provides interim guidance to taxpayers
under §1012 of the Internal Revenue Code
on issues relating to the basis of stock
subject to broker reporting under §6045.
Revenue Rulings
Revenue Ruling
2011-14 provides various
prescribed rates for federal income tax
purposes including the applicable
federal interest rates, the adjusted
applicable federal interest rates, the
adjusted federal long-term rate, the
adjusted federal long-term tax-exempt
rate.
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Practice Management >> |
Field Trips Drive Professional Development
"The old practice of occasionally 'shadowing' a partner at client meetings just doesn't cut it anymore."
Read More.
(The Progressive Accountant)
A Firm Future for Forensics
"In the aftermath of accounting
scandals, financial crimes, and business
collapses, the rapidly growing specialty
of forensic accounting continues to
define itself."
Read More.
(AccountingWEB)
Rev Up Referrals
"As ... business leaders return to the
basics ... revisit one of the
profession's most tried-and-true sources
of new business -- the referral
relationship."
Read More.
(CPA
Insider)
Where Will Your Firm be in 2020?
The Society's Strategic Planning
Committee is looking for sole and small
firm (2 to 10 professionals) partners to
participate in a strategic discussion on
the future of the small firm.
Read More.
(ICPAS)
New CPA
Licensing Requirements Set for 2012
Your comments and suggestions regarding
possible improvements or overlooked
areas in the new law are an integral
part of the Board's licensure update
process.
Read More.
(ICPAS)
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ICPAS Updates >> |
New Resources
in the Information & Research Center
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Compilation
and Review Engagements: March 1,
2011 (AICPA)
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2011 IFRS:
Interpretation and Application of
International Financial Reporting
Standards (John Wiley & Sons, Inc.)
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A Firm's
System of Quality Control
(redrafted). Statement on Quality
Control Standards No. 8 (AICPA)
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Not-for-Profit
Organizations: With Conforming
Changes as of March 1, 2011 (AICPA)
Contact the
Information &
Research Center to borrow
these items.
ICPAS in the Media
View our
Recent Press Coverage
to see our latest media items.
Share Your News
Send us
your staff announcements, new location
or awards in the form of a press release
or email message and we'll post it in
the
Members in the
News area of our site.
Pave the
Way for Future CPAs
Support the future of the CPA profession
with a gift to the CPA Endowment Fund
of Illinois.
Learn More.
(ICPAS)
Follow ICPAS on Twitter
& Join in the
Discussion!
Check out
@IllinoisCPA, the Twitter page
for ICPAS members to get the latest on
courses, events and news.
It's Cool to be Cheap
Get money management tips from ICPAS by
following
@thriftitude
on Twitter. Pass it along to clients, friends
and family.
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