By Sally P. Schreiber, J.D.
The IRS said Tuesday that on June 28 it will stop faxing tax transcripts to taxpayers, tax professionals, and third parties to protect against identity theft (IR-2019-101). The IRS will also stop mailing tax transcripts to third parties. The new policy covers individuals and businesses.
Featuring David Cieslak, CPA/CITP, CGMA, executive vice president and chief cloud officer, RKL eSolutions
Really, computing up until now has worked in a binary sense, ones and zeros, on or off, and it’s really been the same computing model for 50, 60, 70 years that we’re all kind of working within. Quantum computing really takes all of that and turns it on its ear. We have some new concepts that come into play.
To Audit or Not to Audit
For many public accounting firms, the client acquisition decision often follows a common cost-benefit analysis; beyond the consideration of additional revenue generated, scheduling constraints, opportunity costs, and risks must be considered. To the extent that firms can generate revenue without foregoing other opportunities, new clients may be particularly appealing.
FASB’s New Guidance for Contributions Received and Contributions Made
Over the years, there has been much confusion about whether to treat certain types of transactions as contributions or as exchanges, especially when they involve government grants. There has been further confusion when the transactions include donor-imposed dictates, called “restrictions” or “conditions.”