IRS Provides Details on Trump Account Elections, Pilot Contributions
The IRS released proposed regulations detailing how to elect open a Trump account on behalf of an eligible beneficiary and …
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Proposed IRS Regs Offer Alternate E-Furnishing Option for Digital Asset Broker Statements
The IRS has issued proposed regs that would give digital asset brokers an optional, streamlined process for electronically furnishing a new information return …
IRS Releases Schedule, Instructions for New OBBB Individual Deductions
The IRS has published new Schedule 1-A that taxpayers will use for tax year 2025 to claim the One Big Beautiful Bill …
Dems Push to Overturn IRS Rule on Solar, Wind Tax Credits
A group of Senate Democrats introduced a resolution to disapprove of IRS guidance that changes the requirements for wind and …
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 …
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 …
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U.S. Supreme Court Upholds Challenged Portions of ACA Preventive Services Mandate
Kennedy v. Braidwood Mgmt., Inc., 2025 WL 1773628 (U.S. 2025) Available at https://www.supremecourt.gov/opinions/24pdf/24-316_869d.pdf The U.S. Supreme Court has ruled on …
FASB Unveils New Rules Streamlining Internal Software Accounting for Modern Development Methods
U.S. accounting rulemakers have updated the rules for how companies track and report their spending on software they build for …
Accounting Firms Say Foreign Issuers Face Major Obstacles if SEC Mandates US GAAP
In comment letters, prominent accounting firms highlighted the costs and practical challenges for foreign private issuers (FPIs) if the Securities …