News

The Internal Revenue Service reminded taxpayers that like-kind exchange tax treatment is now generally limited to exchanges of real property. The Tax Cuts and Jobs Act, passed in December 2017, made tax law changes that will affect virtually every business and individual in 2018 and the years ahead.

The Internal Revenue Service and Security Summit partners today warned the public of a surge of fraudulent emails impersonating the IRS and using tax transcripts as bait to entice users to open documents containing malware. The scam is especially problematic for businesses whose employees might open the malware, because this malware can spread throughout the network and potentially take months to successfully remove.

The IRS reminds employers that several programs have been affected as a result of the Tax Cuts and Jobs Act passed last year. This includes changes to fringe benefits, which can affect an employer's bottom line and its employees' deductions.

One of the CFO's responsibilities when a company is pursuing a merger or an acquisition is to identify synergies that can be realized by integrating the two organizations. The CFO must coordinate with other business leaders to make sure the entities are investing in needed tools and technologies.

Eligible employers who provide paid family and medical leave to their employees during tax years 2018 and 2019 might qualify for a new business tax credit.

Aretha Franklin died last month without a will, which could cost her heirs a great deal of money. Avoiding this type of situation is exactly why CPAs should discuss an estate plan with clients who may resist writing a will.

The Treasury Department and the Internal Revenue Service issued proposed regulations on the new 100-percent depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service by the business.

Diligent preparation and collection of information from across the enterprise can help CFOs make successful presentations in earnings calls, as well as meetings with bankers, investors and other stakeholders.

Digital transformation efforts are causing executives to maintain or grow finance teams. Meanwhile, finance professionals are eyeing new skills.

In a little-noticed provision, the Tax Cuts and Jobs Act has changed how accrual-method taxpayers determine when to recognize income for federal tax purposes. Here's what practitioners need to know about the act's amendments to Sec. 451, which fundamentally alter the relationship between financial and tax accounting.