Accounting

A new GASB proposal would require state and local governments to report leases based on the principle that leases are financings of the right to use an underlying asset.

The IRS revealed that it discovered and stopped an automated cyberattack on its e-filing personal identification number (PIN) system last month.

In addition to a proposed spending blueprint for the government, President Barack Obama’s proposed FY 2017 federal budget contains a wide variety of tax law changes that would affect individuals and businesses.

The IRS issued inflation adjustments for the Sec. 179 expensing limits, the above-the-line deduction for eligible expenses of educators, and the deductible amount for van pool and transit expenses.

The IRS issued the 2016 inflation-adjusted amounts for the maximum vehicle values for purposes of determining the amount that is included in employees’ income for personal use of an employer-provided vehicle.