House Passes Bipartisan Bill to Delay Corporate Transparency Act Deadline
With the Corporate Transparency Act’s beneficial ownership information reporting requirement temporarily paused pending litigation, the House has passed a bipartisan …
Thomson Reuters Tax & Accounting News
House Narrowly Passes Midnight Rules Relief Act
Late Wednesday afternoon, the House voted 212-208 in passing a bill that would allow Congress to review multiple Congressional Review …
In a Win for Audit Firms, PCAOB Withdraws Transparency Rules
In a move that aligns with President Trump’s deregulatory agenda, the Public Company Accounting Oversight Board (PCAOB) on February 11, …
May We Terminate COBRA Coverage If a Qualified Beneficiary Pays Less Than the Full Premium Amount?
QUESTION: Once a timely COBRA election and initial premium payment have been made, our employer-sponsored group health plan automatically terminates …
Bill Allowing Mass Review of ‘Midnight Rules’ Gains Momentum in House
The most recent legislative attempt to allow Congress to consider multiple joint resolutions of disapproval under the Congressional Review Act …
Trump’s SEC Takes First Step to Rescind Climate Disclosure Rule
In a move that was expected and represents a win for corporations, Securities and Exchange Commission (SEC) Acting Chairman Mark …
19 State AGs File Suit Against DOGE Treasury Access; Judge Blocks New Policy
The attorneys general (AG) of 19 states successfully moved for an emergency temporary restraining order that blocks Elon Musk and …
New Administration Wades Into the Corporate Transparency Act
The Treasury Department is still pushing for eventual enforcement of the Corporate Transparency Act’s (CTA) beneficial ownership information reporting provisions …
Republican Tax Talks in Flux
House Speaker Mike Johnson (R-LA) said that Republicans were expecting to unveil a tax package over the weekend — but …
AICPA’s Auditing Board Plans to Issue 4 Standard-Setting Proposals in 2025
The AICPA’s Auditing Standards Board (ASB) is planning to publish four exposure drafts this year to seek comment on the …
IRS Confirms Filing Season, Taxpayer Advocate Staff Exempted From Buyout
The IRS confirmed that employees in roles deemed “critical” to tax season must continue working until mid-May, even if they …
EEOC Continues Operations Amid Leadership Changes and New Executive Orders
The Equal Employment Opportunity Commission (EEOC) announced that it continues to function and enforce anti-discrimination laws, following recent leadership changes and new …
The Future of the Child Tax Credit
With many provisions of the 2017 Tax Cuts and Jobs Act (TCJA, P.L. 115-97) set to expire at year end and …