IRS distributed over $642B in 2022, despite backlogs and refund delays
Accounting Today
Accounting Today, an Arizent brand, is the independent news and information resource for tax and accounting professional
The agency plans to return to pre-pandemic levels of service next filing season, and more of today’s top stories.
Sign up here to receive Accounting Today's Daily Newsletter — delivered to your inbox every morning.
IRS distributed over $642B in 2022, despite backlogs and refund delays
The financial report indicated that the IRS maintained a clean, unmodified financial statement audit opinion for the 23rd consecutive year.
In other news today:
Tax pros look to tech to boost tax season communication
And client portals are a central part of their strategy for making it easier to share information back and forth.
PCAOB gives China a passing grade on inspection access — for now
The board voted yesterday that local authorities are not obstructing its ability to conduct inspections in the mainland and Hong Kong.
FASB tweaks long-duration insurance contract guidance
Accounting Standards Update 2022-5 amends the LTDI guidance from 2018.
Third-party data leaks raise client privacy concerns
Recent news of tax solutions leaking data to third parties like Facebook have raised concerns about how accountants can protect client privacy in the age of big data.
Tax Fraud Blotter: Lights and sirens
E-file evasion; a.k.a. a CTR scam; fancy cars and a dead mom; and other highlights of recent tax cases.