With Court-Based Practice Bar, the SEC Stakes out New Ground in Accounting Enforcement
When the SEC in September 2024 charged Olayinka Oyebola for his alleged role in enabling a massive fraud by Nigerian …
Thomson Reuters Tax & Accounting News
Indiana Governor Signs Legislation That Conditionally Decreases Personal Income Tax Rate
By Margaret Eisler On April 16, 2025, Indiana Governor Mike Braun signed legislation lowering the state’s individual adjusted gross income …
The Child Tax Credit’s Cloudy Future
With the Child Tax Credit set to be halved at year end and competing aims among those advocating for a …
Relief for Taxpayers Who Can’t Pay Their Tax Bill
Shannon Christensen April 20, 2025 As a tax practitioner, your role extends beyond preparing tax returns; you are a vital …
IRS to Remove Partnership Basis Shifting Transaction of Interest Regs
The IRS announced its intention to issue a forthcoming notice of proposed rulemaking that will remove recently finalized regs identifying certain partnership …
Pushback Against Trump Plan to End IRS Direct File
Editor’s Note, 4/18/2025: Article updated with additional quote from Economic Security Project. Lawmakers and tax policy organization officials sounded off …
New SEC Leadership Will Likely Exempt More Companies From Section 404(b)
While not explicitly saying at what size a public company should begin to have its external auditor attest to management’s …
Tax Pros Talk IRS Modernization Setbacks Due to Workforce, Funding Cuts
Former government officials, practitioners, and tax law and policy experts are in lockstep with their collective worries about the ramifications …
IRS Drops 9 ‘Unnecessary’ Guidance Items; Treasury Scraps Financial Regs
As part of the Trump administration’s government-wide push for deregulation and smaller overall workforce, the IRS and the Treasury Department …
Alabama Establishes Portable Benefit Accounts for Independent Contractors
By Denis Del Bene Alabama has enacted legislation providing for the establishment of portable benefit accounts for independent contractors and, …
Micro-Captive Transaction Reporting Penalty Relief Issued
Material advisors and certain participants in reportable micro-captive transactions will not face penalties for failing to file disclosure statements originally …
IRS Urges Taxpayers to File, Pay, or Request Extension Before Tax Day
Taxpayers can still file their federal income tax return, make payments, request direct deposit of any refund, or seek filing …
House Republicans Advance Tax Reform Blueprint as Dems Rally Against Trump Plans
After a false start Wednesday, House Republicans approved the Senate-amended budget framework, 216-214, setting up tax reform via the reconciliation process. …