US GAAP Undergoes ‘Evergreen’ Refresh, Aiming to Simplify Financial Reporting for Businesses
Companies will operate under clearer accounting guidance within the next two years, as the Financial Accounting Standards Board (FASB) on …
Thomson Reuters Tax & Accounting News
11th Circuit Upholds Corporate Transparency Act
In a major reversal, the U.S. Court of Appeals for the 11th Circuit has upheld the constitutionality of the Corporate …
What Federal Mandates Apply to Our Company’s Group Health Plan Other Than ERISA, COBRA, and HIPAA?
QUESTION: We understand that ERISA, COBRA, and HIPAA apply to our company’s group health plan, but should we consider any …
Tax Credit Experts Urge Businesses to Model Strategies, Risks Now
Baker Tilly experts outlined key tax strategies for individuals and businesses navigating changes enacted by the One Big Beautiful Bill …
IRS Finalizes Regs on Tribal Entity Tax Status, General Welfare Benefits
The IRS has issued two sets of final regs addressing the federal tax treatment of entities wholly owned by Indian …
What OBBB Means for Your Clients’ Itemized Deductions
By Hilari Pickett, CPA, a Senior Specialist Editor with Thomson Reuters Tax & Accounting The 2025 Act (also referred to …
House Committee Advances Additional Tax Administration Measures
The House Ways and Means Committee advanced two tax administration bills Wednesday evening aimed at improving the taxpayer experience. One …
Dems Press Treasury on Retroactive R&E Expensing ‘Loophole’
Nine congressional Democrats urged Treasury leaders not to establish a Corporate Alternative Minimum Tax carveout for companies that accelerate their …
IRS Guidance on Trump Accounts Addresses Cafeteria Plans and Employer Contributions, Announces Regulations on the Way
IRS Notice 2025-68 (Dec. 2, 2025); IRS News Release IR-2025-117 (Dec. 2, 2025) Notice News Release The IRS has announced …
Tax Experts on OBBBA Changes to Opportunity Zones
Recent Baker Tilly year-end tax webinars highlighted sweeping changes to the Opportunity Zone program under the One Big Beautiful Bill …
SEC Chief Accountant Unveils Ambitious Agenda for Audit Oversight, Standard Setting
At a year-end AICPA conference, Securities and Exchange Commission (SEC) Chief Accountant Kurt Hohl outlined an ambitious agenda for accounting …
SEC Chair Criticizes Accounting Firms for Pushing Rules Driven by ‘Self-Interest’
At a conference, Securities and Exchange Commission (SEC) Chairman Paul Atkins strongly criticized accounting firms for having pressured the commission …
Michigan Issues Additional Guidance on Wholesale Tax on Adult-Use Marihuana
By Peter G. Pupke, Esq., Checkpoint News The Michigan Department of Treasury has issued additional guidance on the state’s new …