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Founded in 1887, the AICPA represents the CPA profession nationally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the profession’s technical and ethical standards.

The AICPA’s founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.

• IRS has mixed results from ‘ghost employer’ enforcement efforts  (April 22, 2024)
  
• IRS waives required withdrawals from certain inherited IRA accounts  (April 19, 2024)
  
• IRS: Cost of businesses fooled by ERC scams still rising  (April 16, 2024)
  
• IRS grants limited waiver for underpayment of estimated corporate AMT  (April 15, 2024)
  
• Dirty Dozen list ends with easements, digital assets, and more  (April 12, 2024)
  
• Proposed regulations issued for 1% excise tax on corporate stock repurchases  (April 10, 2024)
  
• Two home energy rebates not includible in gross income, IRS says  (April 8, 2024)
  
• Supreme Court to decide estate tax impact of life insurance in closely held businesses  (April 3, 2024)
  
• Foreign earned income and housing exclusion denied  (April 1, 2024)
  
• Dirty Dozen list from IRS opens with phishing, smishing scams  (March 28, 2024)
  
• IRS: $1 billion in 2020 tax refunds still unclaimed  (March 27, 2024)
  
• Digital asset playbook: Sec. 6045 reporting requirements  (March 21, 2024)
  
• Taxpayer notice of third-party contact shortened under proposed regulations  (March 21, 2024)
  
• Retirement fears do not play out in reality, survey shows  (March 15, 2024)
  
• Why are there fewer accountants? What the research says (Podcast)  (March 7, 2024)
  
• Federal court holds Corporate Transparency Act unconstitutional  (March 5, 2024)
  
• What kind of deduction is a hobby expense?  (March 1, 2024)
  
• IRS renews focus on targeting high-income nonfilers  (February 29, 2024)
  
• Why you should plan for the 2026 tax season now  (February 28, 2024)
  
• IRS announces delay for Form 1042 e-filing requirement  (February 28, 2024)
  
• IRS chief puts tax evasion tally by the wealthy at $150 billion  (February 22, 2024)
  
• IRS to begin audits of personal, business use of corporate jets  (February 21, 2024)
  
• On Form 1099-K delays, Werfel says IRS must protect taxpayer rights  (February 16, 2024)
  
• 7 warning signs that an ERC claim is questionable, from the IRS  (February 13, 2024)
  
• Electronic Filing Identification Numbers (EFINs) scam targets tax professionals  (February 9, 2024)
  
• Form 1099-K frequently asked questions revised  (February 8, 2024)
  
• Auto depreciation limitations increase  (February 7, 2024)
  
• House OKs $78B tax bill with changes to ERC and child tax credits  (February 1, 2024)
  
• Digital asset question added to more forms for 2023 tax returns  (January 26, 2024)
  
• Beneficial ownership information (BOI) reporting and unauthorized disclosure penalties increased  (January 25, 2024)
  
• Taxes in retirement: From A to Z, deferred to free  (January 24, 2024)
  
• Simpler IRS notices are coming  (January 23, 2024)
  
• Reporting of digital assets as cash delayed until IRS issues regulations  (January 17, 2024)
  
• New bipartisan proposal would boost child tax credit  (January 16, 2024)
  
• IRS enforcement efforts collect $520 million from wealthy taxpayers  (January 12, 2024)
  
• Taxpayer advocate: IRS again fails tax pros with PPS call answer rate  (January 10, 2024)
  
• IRS to begin accepting and processing 2023 tax returns on Jan. 29  (January 9, 2024)
  
• Stock-based compensation: Tax forms and implications  (January 4, 2024)
  
• Draft form, instructions posted for corporate alternative minimum tax (AMT)  (January 3, 2024)
  

                 NICHOLAS G. VARDALOS & COMPANY, LLC​

                                     CERTIFIED PUBLIC ACCOUNTANT

CPA News 2024

YOUR TRUSTED ADVISOR

Nicholas G. Vardalos & Company is a full service accounting firm serving clients throughout the Chicago metropolitan area, northwest Indiana and southwest Michigan.