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Insights, updates, and best practices for U.S. CPA firms navigating tax, audit, and offshore accounting.

ASC 718 and Stock-Based Compensation Accounting

Published On:
July 30, 2026
How ASC 718 works: measuring share-based payments at fair value and expensing stock-based compensation as equity awards vest.
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Goodwill Impairment and the Test Every Acquirer Needs to Know

Published On:
July 30, 2026
Goodwill impairment is what happens when a reporting unit's carrying amount tops its fair value. Here is how the test works and when you run it.
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Accounting for Business Combinations: The ASC 805 Guide

Published On:
July 30, 2026
A clear guide to accounting for business combinations: the acquisition steps, fair value, goodwill, and how the FASB ASC 805 rules work.
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Form 8606: How to Report Nondeductible IRAs and Roth Conversions

Published On:
July 30, 2026
Form 8606 is used to report nondeductible IRA contributions, Roth conversions, and distributions, so the IRS does not tax your after-tax money twice. 
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ASC 740: A Plain-English Guide to Accounting for Income Taxes

Published On:
July 30, 2026
What ASC 740 covers: the income tax provision, deferred tax assets and liabilities, uncertain tax positions, and the new ASU 2023-09 disclosures.
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Form 8300 and Reporting Cash Payments Over $10,000

Published On:
July 30, 2026
What IRS Form 8300 is, who must file it, and how to report cash payments over $10,000 within 15 days, electronically or on paper.
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Form 1120-F: The U.S. Income Tax Return for Foreign Corporations

Published On:
July 30, 2026
Who must file Form 1120-F, how effectively connected income is taxed, the protective return that preserves deductions, and the 1120-F due dates.
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Form 3520 Explained: Foreign Gifts, Inheritances, and Foreign Trusts to the IRS

Published On:
July 30, 2026
A clear guide to reporting foreign gifts, inheritances, and foreign trusts to the IRS on Form 3520, with thresholds, deadlines, and penalty risks.
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Form 8832 and the Entity Classification Election

Published On:
July 30, 2026
What Form 8832 is, who needs to file it, and how the entity classification election sets your LLC tax classification for federal tax purposes.
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Form 8621: The PFIC Information Return for U.S. Shareholders

Published On:
July 30, 2026
Who must file Form 8621, how PFICs and foreign mutual funds are taxed, the QEF election, and what happens if you skip this IRS information return.
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Form 5472: A Filing Guide for Foreign-Owned U.S. Businesses

Published On:
July 30, 2026
Who must file Form 5472, what counts as a reportable transaction, the $25,000 penalty, and how foreign-owned LLCs file a pro forma 1120.
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Form 1042-S Explained for Withholding Agents and Payees

Published On:
July 30, 2026
What Form 1042-S is, who files it, and how withholding agents report US income paid to foreign persons and nonresident aliens.
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