New Energy Credit Material Assistance Guidance Leaves Open Key Questions
The IRS recently issued interim guidance to assist taxpayers claiming certain clean energy tax credits comply with new restrictions on material assistance …
Thomson Reuters Tax & Accounting News
Additional Interim CAMT Guidance Tweaks AFSI Calculations
The IRS has issued additional interim guidance on the corporate alternative minimum tax (CAMT) that provides several new or modified …
Early Warning System—or Echo Chamber? Inside FASB’s Advisory Web
The Financial Accounting Standards Board (FASB) has built a wide advisory network to pressure-test new standards before they’re finalized: investors, …
Growing Creator Economy Raises New Tax and Payroll Compliance Considerations
From side hustle to small business As the creator economy expands into what industry estimates place at a $205 billion …
IRS-ICE Data Sharing Error Admission Sparks Congressional, Legal Backlash
Congressional committees are demanding investigations into the IRS’ disclosure of immigrant taxpayer data to U.S. Immigration and Customs Enforcement (ICE) …
ADP Pushes for WOTC Screening Changes
Payroll and HR services provider ADP is calling on Congress to incorporate a “legislative fix” as it considers renewal of …
SEC Chairman Atkins Offers Details on Planned Disclosure Rule Reforms
Securities and Exchange Commission (SEC) Chairman Paul Atkins provided additional detail on the commission’s effort to reform Regulation S-K, expanding …
Are There Transparency Requirements for Provider Directories?
QUESTION: We’ve heard that our group health plan’s provider directories are subject to federal transparency requirements. What are they? ANSWER: A group …
Retroactive OBBB Provisions Will Impact Tax Season, Experts Say
Taxpayers should prepare for a complicated 2026 filing season due to a host of retroactive tax changes passed in the …
IRS Issues Interim Guidance on Prohibited Foreign Entities for Energy Credits
The IRS has provided interim guidance on how to determine whether electricity-producing qualified facilities, energy storage technologies, or eligible components …
OBBB Put Pressure on States to Raise Revenues, Analysts Say
Policy experts warned that the One Big Beautiful Bill (OBBB) is creating a fiscal crisis for states, forcing them to …
PCAOB Welcomes New Chair, Board Members Amid Historic Pay Cuts
The Public Company Accounting Oversight Board (PCAOB) said that its new chairman, Demetrios Logothetis, along with newly appointed board members …
IRS Falling Behind on Paperless Processing Goals
The IRS has made limited progress in its efforts to digitize tax returns and may struggle to meet a federal …