News Roundup

December 31, 2016

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5 Things Accountants Need to Know About Mileage Reimbursement

Even for accountants who are well informed, mileage reimbursement is a surprisingly complex topic. Confusion around it has led to many high-profile businesses having to pay out large sums in legal settlements to their employees.

Goodwill Impairment Skyrocketed in 2015, Study Finds

U.S. public companies more than doubled their goodwill impairment in 2015 to a recorded $57 billion over 2014’s $26 billion, according to a new study by corporate advisor Duff & Phelps.

CAQ Releases Paper on Non-GAAP Financial Measures

The Center for Audit Quality has issued Non-GAAP Financial Measures: Continuing the Conversation exploring the issue of non-GAAP information, providing context on its definition and use, pertinent regulatory developments, and the current level of auditor involvement.

IRS Announces 2017 Filing Season Opens Jan. 23, Reminds Taxpayers About Delayed Refunds

The IRS has announced that tax season will open on Jan. 23, 2017. The IRS will begin accepting electronic tax returns that day, with more than 153 million individual tax returns expected to be filed in 2017.

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