Banks File a Cash-Flow Statement Few Investors Use. Should It Be on the Chopping Block?
Why are banks still cranking out cash-flow statements that hardly anyone reads? That was the uncomfortable question hanging over a …
Thomson Reuters Tax & Accounting News
House Panel Advances Bill Slashing IRS Enforcement Budget, SEC Funds
The House Appropriations Committee has advanced the fiscal year 2027 Financial Services and General Government (FSGG) funding bill, which would …
Bessent Defends Proposed $1.4B IRS Budget Cut
Treasury Secretary Scott Bessent defended the Trump administration’s proposed $1.4 billion budget cut for the IRS for fiscal year 2027, …
DOL Technical Release Addresses Proxy Advisors and ERISA Fiduciary Duties
DOL Technical Release 2026-01 (Apr. 1, 2026) Available at https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/technical-releases/26-01.pdf The DOL has issued a technical release regarding the use …
Chair Atkins: SEC Nears Proposal to Allow Semi-Annual Reporting for Public Companies
Securities and Exchange Commission (SEC) Chairman Paul Atkins has indicated that the commission is very close to issuing a proposal …
IRS Cuts, Pro-Wealthy OBBB Changes Strained Filing Season, Analysts Say
IRS budget cuts, the elimination of the free Direct File program, and new tax provisions in the One Big Beautiful …
Navigating the Tax Consequences of Tariff Refunds
A recent U.S. Supreme Court ruling invalidating International Emergency Economic Powers Act (IEEPA) tariffs has opened the door for companies to claim …
Alaska Supreme Court Upholds DOR’s Interpretation of Municipal Gas Tax Credits
By Maria T. Albanese, JD, LL.M, Checkpoint News The Alaska Supreme Court affirmed the Alaska Superior Court’s decision upholding the …
Group Urges Supreme Court to Hear Corporate Transparency Act Case as Lawmakers Consider Repeal
The National Small Business Association (NSBA) is taking its fight against the Corporate Transparency Act (CTA) to the U.S. Supreme …
Act Fast: Protect Pandemic Era Claims for Refund
By Shannon Christensen, J.D., MBT April 22, 2026 A Major Taxpayer Victory — Kwong v. U.S. In a significant taxpayer …
Acronyms Help Accountants Work Faster. But Are There Too Many?
Accounting has a language problem. APIC. COGS. SCF. PP&E. Inside the profession, those terms are standard shorthand—efficient, precise and familiar …
Bill Seeks Earned Income Tax Credit Boost per Child for Working Parents
Representative Kristen McDonald Rivet (D-MI) introduced legislation that would expand the Earned Income Tax Credit (EITC) to provide working parents …
House GOP Calls for IRS, SEC Funding Cuts, Demands Resolution on Corporate Transparency Act
The House Appropriations Committee released a bill to fund IRS, SEC, and certain other regulators in fiscal year 2027, calling …