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What’s New for 2022 in Federal Taxes

Published January 24, 2022

While the Build Back Better Act's smorgasbord of tax incentives for clean energy, new taxes on large corporations and wealthy individuals, and tax relief for others remains stalled for now in the Senate, 2022 nonetheless dawns with the advent of at least one new tax provision, lapses of a number of others, and at least a couple of sets of required regulatory rules. Amortization of R&E expenditures Effective for amounts paid or incurred in ...

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IRS Extends e-Signatures on Tax Forms through Oct. 31, 2023

Published January 20, 2022

The Internal Revenue Service is extending the ability to electronically sign a number of different tax forms and compliance documents through the end of October 2023. In Memos NHQ-10-1121-0005 and NHQ-01-1121-0004, the IRS is extending the capability, which it had introduced during the pandemic so taxpayers wouldn’t need to visit their tax practitioners’ offices. The memos revise and supersede the extension that the IRS provided on ...

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How to Stay Focused as Remote Work Remains

Published January 11, 2022

Here's why many employees still prefer to work from home and how you can improve focus and motivation. When the Pew Research Center found a large percentage of workers still preferred to work from home at the end of 2020, some skeptics might have expected this trend to soon reverse. But as 2021 has proven, working remotely has in fact become even more entrenched and expected by the workforce. In mid-October 2021, Gallup simplified the ...

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Digital Assets, Intangibles Among Priorities on FASB’s New Research Agenda

Published January 5, 2022

Earlier this year, FASB asked for comments on what its agenda priorities should be. In response to feedback received in the agenda consultation, FASB Chair Richard Jones announced comprehensive changes to the board's research agenda. FASB's research agenda now will include the following projects, in no particular order: · Accounting for exchange-traded digital assets and commodities. Accounting and disclosure for a subset of these ...

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Is Goodwill Accounting’s Future in the Past?

Published December 28, 2021

Investors don't want to go back to an amortization model, but that's the way FASB is leaning. Portfolio managers and other investment professionals surveyed by the CFA Institute last week would prefer the Financial Accounting Standards Board (FASB) not travel back in time 20 years to attempt to improve the U.S. accounting standard for goodwill. FASB, however, seems intent on making the journey. Goodwill is the excess of the price paid for a ...

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