The Progressive Accountant

The Progressive Accountant

ITIN Renewals Open

Renewals under the Individual Taxpayer Identification Number program are now being accepted by Internal Revenue Service. The IRS notes that under a 2015 law, any ITIN not used at least once in the last three years will not be valid on tax return after this year ends. The IRS also says it is providing a wider effort to educate those needing this form of identification.

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AICPA Issues Rev Rec Drafts

AICPAThe Financial Reporting Executive Committee of the American Institute of CPAs has issued seven working drafts regarding upcoming changes to revenue recognition standards. The drafts, related to the implementation of Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, are for asset management, gaming, software and telecommunications.

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Sage Launches Cloud NFP Software

Sage has introduced a nonprofit package for its online Live platform. The new product, Sage Live Nonprofit, has been launched on the Salesforce AppExchange.The new module will integrate with the Salesforce Nonprofit Starter Pack and is available in the United States and United Kingdom with introduction into other countries to follow.

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