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MTO and Business Tax Call Center Outage, MI Treasury Announces Local Government Summit, and more

by MICPA | Aug 24, 2018   ()

Reminder: MTO and Business Tax Call Center Outage
Michigan Treasury Online (MTO) and the Business Tax Call Center will be unavailable from 5 p.m. on Wednesday, Aug. 29 until 8 a.m. on Tuesday, Sept. 4, 2018 for system/server maintenance. No business tax records will be accessible during this planned outage. 
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MI Treasury Announces Local Government Summit
The Michigan Department of Treasury will host a Fall 2018 Local Government Summit in Livonia on Oct. 10. Presentations and breakout sessions with department officials, other state departments, partner associations and others will showcase resources and support for local units of government.
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FASB Proposes Narrow-Scope Improvements to Credit Losses Standard
The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would amend the transition requirements and scope of the credit losses standard issued in 2016. Provide comments on the proposal by Sept. 19.
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FASB Improves Accounting Guidance for Insurance Companies That Issue Long-Duration Contracts
The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that improves financial reporting for insurance companies that issue long-duration contracts, such as life insurance, disability income, long-term care and annuities.
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For Auditors: Flexibility Is No Longer Just a Yoga Thing
A new proposed standard would make numerous changes to attestation standards, including changing the terminology for what have been known as "review engagements." Comments are due by Oct. 11.
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Podcast: Evolving Nature of the Audit
In this podcast from Accounting Today, the AICPA's Chuck Landes discusses the evolution of auditing since the 1990s and gives his assessment of how it might change. Technology is a key driver of change, he says.
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Podcast: Updates Coming for Audits on ERISA Plans
Stay on top of auditing standards changes, including those related to employee benefit plans and auditor reporting, with this podcast covering what you need to know from the July Auditing Standards Board meeting.
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Time for a Paycheck Checkup?
The IRS continues to urge taxpayers who haven’t yet done a “Paycheck Checkup” to do one as soon as possible to see if they’re having their employer withhold the right amount of tax after major changes in the tax law. The IRS Withholding Calculator can help taxpayers learn if they need to make changes soon to avoid an unwelcome surprise come tax time. Additional resources include tips, videos and FAQs.
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The Changing Shape of Finance
Outside forces such as digital technologies are evolving the shape of finance function. Traditional reporting structures are being disrupted as collaboration between equals becomes the new mode. Read more in a new CGMA report, the first in a four-part series.  
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Blockchain: It’s Not Just Bitcoin
When you hear the word ‘blockchain,’ chances are your mind jumps straight to cryptocurrencies. But this SlideShare covers seven other surprising ways blockchain is changing the world – and it includes a video on how it works.
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Source: MICPA
Source: MICPA

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