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January 2022

16 | A refreshed focus on risk 40 | Tax Matters
assessment Alimony deduction allowed for health
A new auditing standard and a care premiums purchased with
pandemic-altered environment have pretax wages
audit firms reexamining some of IRS addresses taxpayer reliance on
the fundamental processes in their FAQs
engagements. All LB&I taxpayers may
videoconference with the IRS
22 | What’s your type? Identify How LLCs may obtain tax-exempt
your culture and hire the recognition
right people SSA wage base increases for 2022
Learn some ways to discern IRS Chief Counsel outlines R&D
and understand the culture that credit refund requirements
predominates at your firm so you 6-year limitation period applies to
can make the right choices when entire return
hiring.
44 | Technology Q&A
28 | Résumé and job interview This month’s column introduces
tips for CPAs four features that make Outlook
This month’s TOP STORIES Get advice for your job search with more efficient and looks at ways to
this infographic. automate the expense process.
6 | Spotlight on tax 30 | Like-kind exchanges of real 50 | The Last Word
season property Finding a way
COVID-19 relief measures for 2021, The current favorable tax treatment to establish
while welcomed by taxpayers, may spell of Sec. 1031 exchanges has been a connection
more work for preparers — with still in the sights of congressional tax is the key to
more changes possibly on the way. writers. communicating
ON THE COVER AND AT THE TOP OF THIS PAGE: IMAGE BY SIMONEM/ISTOCK; RIGHT: PHOTO BY ANDREW SHURTLEFF/AP IMAGES
Plus: The JofA’s annual quick guide, and collaborating
a downloadable tax season reference, COLUMNS with young
highlighting dollar thresholds, tax people, according
tables, standard amounts, credits, and 04 | Professional Liability to Nancy
deductions. PAGE 37 Spotlight Bagranoff, CPA,
Use of e-signatures for engagement DBA.
12 | When and how to raise fees documentation
at your firm Case law provides a guide for
Make clients aware of your value to steps to take to make sure
justify increasing what they pay for electronic signatures are legally This symbol identifies articles in the
services. binding. CPE Direct self-study program.

AICPA: Where to turn

Member Service Center AICPA Technical Hotline Coronavirus tax resources
1-888-777-7077 1-877-242-7212 Visit aicpa.org/topic/tax/covid-19-tax
Or chat with us at www.aicpa.org 9 a.m.–8 p.m. ET, Monday–Friday to stay current on pandemic-related
Chat and phone service available aicpa.org/research/technicalhotline.html tax developments and communicate
9 a.m.–8 p.m. ET, Monday–Thursday The hotline is available for questions about the changes to your clients with
and 9 a.m.–6 p.m. ET, Friday accounting, auditing, and attest, including new specialized resources from the
A&A implications of the pandemic. A live AICPA Tax Section. A chat feature is
chat feature is also available. available.

journalofaccountancy.com January 2022 | 3