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News

The OSCPA prides itself on keeping members and the public up–to–date on issues related to the accounting profession, be it general news about or affecting the profession, accounting and tax code updates, helpful news for consumers, and more.

Displaying 1 - 10 of 234 news items
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Oregon's Proposed Gross Receipts Tax: Key Findings from the Legislative Revenue Office Report on Initiative Petition 28

View Detail Oregon's state Legislative Revenue Office issued a report this week on the impacts of Initiative Petition 28, which would tax businesses based on their total sales – not just profits.

Crosby Hop Farm to become B Corp

View Detail B Corps are certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, improving the quality of life in communities through business, according to information from B Lab.

Senator Ron Wyden Drafts Tax Reform for Derivatives

View Detail Senate Finance Committee Ranking Member Ron Wyden recently released a legislative discussion draft that simplifies how derivatives are taxed so that everyone follows the same rules.

What You Should Know about the New Fiduciary Rule

View Detail Last month, the U.S. Department of Labor issued the final fiduciary rule, which significantly affects advisors who render investment advice to Individual Retirement Account owners.

Millions of American Workers to Qualify for Overtime Pay

View Detail The U.S. Department of Labor (DOL) issued it's final rule, updating overtime regulations in the Fair Labor Standards Act, as well as simplifying and modernizing the rules to make them easier for workers and employers to understand and apply. The final ruling effective date is December 1, 2016, giving employers six months to prepare.

House Passes Bill to Help Victims of ID Theft Tax Fraud

View Detail The House passed bipartisan legislation Monday, May 16, 2016, to prevent taxpayer identity theft and help victims whose tax refunds have been stolen by identity thieves.

Problem Solved! Why accountants love their jobs

View Detail Reasons why successful accountants around the world love their jobs are surprisingly similar --regardless of where they work or what they do.

AICPA Proposal Aims to Strengthen Advocacy, Member Resources

View Detail The American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA) are proposing to create a new accounting association that would integrate operations, but preserve the membership bodies of both organizations. To move forward, the proposal requires approval from AICPA members. The AICPA Council has authorized an electronic ballot and members have from April 18 until June 16 to vote.

FASB votes to proceed with final standard on credit losses

View Detail The Financial Accounting Standards Board (FASB) voted to proceed with a new accounting standard that provides timelier financial reporting of credit losses on loans and other financial instruments held by financial institutions and other organizations. The final Accounting Standards Update (ASU) is expected to be published in June 2016.

IRS Regulations Provide Guidance for New Voluntary Certification Program; Application Process for Professional Employer Organizations Opens July 1

View Detail WASHINGTON -- The Internal Revenue Service released temporary and proposed regulations implementing a new voluntary certification program for professional employer organizations (PEOs).