The Internal Revenue Service has issued newly updated procedures for changing a business’s method of accounting for income tax purposes.
Specifically, the new revenue procedure provides the general procedures to obtain the advance (non-automatic) consent of the commissioner to change a method of accounting and provides the procedures to obtain the automatic consent of the commissioner to change a method of accounting.
Another document issued by the IRS on Friday,
Just over half of accountants report being "highly satisfied" with their jobs, according to an ongoing survey — and perhaps just as important, the sources of dissatisfaction in the profession are becoming clearer and clearer.
Meanwhile, KPMG and Grant Thornton led in terms of new engagements among the largest audit firms.
Plus, Johnson Lambert launches a new practice; Kaufman Rossin names CIO; and other firm and personnel news from across the profession.
Plus, Bloomberg Tax Provision gets beefed up ; support for FileCabinet CS to expire in 2027; and other updates.
The wide-ranging Taxpayer Assistance and Service Act includes a requirement for a new IRS office to educate businesses about child care tax breaks.
One Range Rover, two Ferraris; quite a JOLT; live-video app; and other highlights of recent tax cases.
