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IRS may be missing billions in taxes from employer underreporting (Accounting Today) - The Internal Revenue Service could be foregoing billions of dollars in potential taxes because tens of thousands of employers are underreporting the amount of their workersâ wages and withholding taxes, according to a new report. ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES Is True Love Harder to Find than Financial Security? (CPA Practice Advisor) - When it comes to big life goals, most Americans point to two things: financial stability and a long-term relationship. Accounting Firm Partners Impressed by Millennials Not Acting Millennialish (Going Concern) - In this column at CPA Practice Advisor, accounting firm consultant Marc Rosenberg writes about putting a bunch of partners into a room with a couple of millennial accountants and hilarity ensues when they all break out in song. Hated Estate Tax Valuation Rules On Trump's Hit List (Forbes) - The fight to block Obama-era proposed rules that family business owners say will wreak havoc on their legacy plans is heating up again. In response to President Donald Trumpâs executive order to reduce tax regulatory burdens, the U.S. Treasury has identified the valuation rules as a significant and ripe for review in an interim report. How well do you know audit documentation requirements? (Journal of Accountancy) - Through its Enhanced Oversight Program, the AICPA Peer Review Program has found that the most common cause of material nonconformity in audits is noncompliance with AU-C Section 230, Audit Documentation. Taxation Accounting/Audit | TOP 5 MOST READ
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