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IRS and Security Summit Partners Warn of Fake Tax Bill Emails
(Internal Revenue Service) - The Internal Revenue Service and its Security Summit partners today issued an alert to taxpayers and tax professionals to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act.
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FASB proposes shortening amortization period for certain debt securities
(Journal of Accountancy) - FASB proposed an accounting standard Thursday that would shorten the amortization period for callable debt securities purchased at a premium.
New "Smart" I-9 Form Coming In November
(CPA Practice Advisor) - Within the next two months, expect the U.S. Citizenship and Immigration Service to publish a long-awaited update to the Form I-9. The goal: help employers reduce errors and ease the process of completing the work-verification form on their office computers.
IRS Spent $15 Million on Flawed FATCA System Rollout
(Accounting Today) - The Internal Revenue Service spent $15 million on a delayed implementation of an upgraded system for handling an aspect of the Foreign Account Tax and Compliance Act, but the software did not deliver the expected business results, according to a new report.
Accounting News Roundup: Executive Impersonation Scams and Thankless Jobs
(Going Concern) –By now you've likely heard about the scam where an unsuspecting accountant receives an email from a high-ranking executive, usually a CFO, requesting a large wire transfer.
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