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Meals continue to be deductible under new IRS guidance

The IRS issued guidance on the deductibility of meal and entertainment expenses after the modification of Sec. 274 by the TCJA.

GASB proposes targeted improvements, new concepts

GASB issued separate proposals that are designed to deliver targeted improvements to the financial reporting model and advance new concepts to guide the board in developing standards on recognition in state and local government financial statements.

IRS issues 2018–2019 per-diem rates

The IRS issued its annual update of the special per-diem rates for business travel away from home from Oct. 1, 2018, through Sept. 30, 2019.

Rules issued on paid family and medical leave credit

The IRS released guidance on the new Sec. 45S tax credit for employers that provide paid medical and family leave.

3 factors driving finance transformation

North American CFOs are dealing with rapid technology changes and the need to retrain workers in the quest to continue finance transformation.

SEC proposes clarifying broker-dealer exemption

The Securities and Exchange Commission proposed an amendment that would correct an error published in 2013 in the exemption provisions in the broker-dealer annual reporting rule.

News quiz: What’s the latest on accountants’ pay?

See how much you know about the news (or catch up on recent reports) with the quiz.

Investors trust auditors, but confidence in U.S. markets drops

Investors continue to show a high degree of confidence that public company auditors are looking out for them, according to a new survey.

IRS extends deadlines in N.C. counties affected by Hurricane Florence

The IRS announced that it is extending tax deadlines starting Sept. 7, 2018, until Jan. 31, 2019, for eight counties in North Carolina.

How cybercriminals prey on victims of natural disasters

Natural disasters such as Hurricane Florence provide cybercriminals with an opportunity to cause further misery for victims and businesses that already are under siege.

IRS issues proposed regs. for GILTI inclusions

The IRS issued proposed regulations implementing Sec. 951A’s global intangible low-taxed income provision, which requires a US shareholder of a controlled foreign corporation to include this income in the shareholder’s gross income.

FinREC issues working draft on multiemployer benefit plans

The AICPA Financial Reporting Executive Committee (FinREC) issued a working draft of a proposed chapter on multiemployer benefit plans and illustrative financial statements, which will be added to the AICPA Audit and Accounting Guide Employee Benefit Plans.

States’ deregulatory push threatens CPA licensure

The CPA profession organizes resistance to legislative proposals that would reduce state licensing requirements.

U.S. economic enthusiasm remains high

Tariffs, rising interest rates, and difficulty finding workers are not enough to slow projected growth, according to a survey of finance decision-makers.

Launch of CPA Exam in Europe provides convenience for candidates

Beginning next month, CPA candidates in Europe will no longer have to undertake intercontinental travel to sit for the CPA Exam.

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