The following alert has been modified as a result of new guidance provided by the IRS. On February 13, 2015, the IRS released Rev. Proc. 2015-20, which provides a new simplified procedure for small businesses. Under this simplified method, a small business may adopt the final tangible property regulations on a prospective basis and Form 3115 is not required.
IMPACT’s fourth interactive War Story covers a case involving a large embezzlement, how it happened, and how the CPA firm could have avoided it.
Jeffrey C. Hohman, CPA
CLAIMS HANDLING APPROACH
In spite of a CPA’s best intentions, there is always the potential for an error, omission, ... read more
The 13th edition of the CPA's Guide to Effective Engagement Letters is now available for purchase from the publisher, CCH. Policyholders will receive a 20% discount from the publisher, and we will publish the order form including the discount on the Engagement Letter Resource... read more
By Josh Yager and Ryan Wolfshorndl, Anodos Advisors
So, you're a CPA and a trustee. You said "Yes" when your client asked, "Will you serve as my successor trustee?" We don’t need to belabor why you said yes, or whether you regret saying yes, or if your partners are ha... read more
