Gensler Defends 30, 45-Day Comment Period for SEC Rulemaking Proposals
During a recent virtual event, SEC Chair Gary Gensler defended against criticism that the commission is not providing enough time …
Thomson Reuters Tax & Accounting News
Senate Bill Would Expand SEC Small Business Advocate’s Mandate to Include Rural Businesses
Sen. John Kennedy, a Louisiana Republican, on January 13, 2022, introduced a bipartisan measure that would broaden the mandate of …
GASB Update to LIBOR Cessation Accounting Rules Coming in Spring for Cities, States
A GASB update to accounting rules that address the dissolution of the London Interbank Offered Rate (LIBOR) will be published …
SEC Has Over 50 Rulemaking Projects, but a ‘Phenomenally Important’ One is Missing
There is no doubt that SEC Chair Gary Gensler’s near-term rulemaking agenda is ambitious with over 50 items. But there …
Republicans Look to Limit Fed’s Central Bank Digital Currency Power
A House Republican on January 12, 2022, announced legislation barring the Federal Reserve from issuing a central bank digital currency …
IRS: Make Fourth- Quarter 2021 Quarterly Tax Payments by January 18 to Avoid Penalty
The IRS reminded taxpayers required to make estimated tax payments for the fourth quarter of 2021 by January 18, 2022, …
Like it or Not, Dodd-Frank Clawback Rule Coming
The SEC under the leadership of Chair Gary Gensler is expected to move forward with unfinished Dodd-Frank executive compensation rules, …
IRS Tax Season Begins January 24
The IRS has announced that it will begin accepting and processing 2021 tax returns on January 24, 2022, and that …
States Back Challenge to SEC’s Approval of Nasdaq Board Diversity Standards
A coalition of 17 states in a December 27, 2021, amicus filing backed a challenge to the SEC’s approval of …
Rep. Pascrell challenges massive college football head coach contracts
Letter to USC President House Ways and Means Oversight Subcommittee Chair Bill Pascrell (D-NJ) sent letters to the presidents of …
IRS Announces Opening Date of Filing Season for Business Returns
In a Quick Alert for Tax Professionals, the IRS has announced the beginning of the 2022 filing season for Modernized …
SEC Commissioner Peirce Uses Rat Anecdote to Make Case for Longer Comment Period
SEC Commissioner Hester Peirce in a statement emphasized that the commission ought to allow ample time for the public to weigh in …
SEC Investor Advocate Urges New PCAOB to Reinstitute Investor Advisory Group
The SEC’s Office of the Investor Advocate in a report encouraged the PCAOB to reinstitute “a meaningful investor advisory group …
E-Filing Start Date for 2022 Tax Season To Be Announced Soon, IRS Says
With the beginning of the 2022 tax filing season looming, there is not yet an official date for when taxpayers …
Top 5 Issues to Master to Adopt FASB Lease Accounting Rules This Year
Private companies, the largest business demographic in the U.S., have to adopt the FASB’s new lease accounting standard starting this …
Tax Policy Q&A with EY’s Kate Barton
As global vice chair for tax at Ernst & Young, Kate Barton oversees the entirety of the accounting giant’s tax …
FASB Proposes New Disclosures for Buyers in Supplier Finance Programs
Buyers that use supplier finance programs to pay for goods or services will need to cough up new details about …
IRS Provides Disaster Relief for Tornado Victims in Illinois and Tennessee
The IRS has provided disaster relief for victims of the storms, tornadoes and flooding that took place starting on Dec. …