Ways and Means Looking to Curb Pandemic Related Fraud Federal agencies did not strategically manage fraud risks and were not adequately prepared to prevent fraud tied to COVID-19 relief …
Senate Finance Grills IRS Chief Counsel Nominee The Biden Administration nominee to serve as IRS Chief Counsel underwent critical questioning by Republican members of the Senate Finance …
IRS Forming Backup Plans as Government Shutdown Nears The IRS is forming contingency plans as the likelihood of a government shutdown approaches, the union representing Treasury and IRS …
Government Shutdown Looms as Funding Solution Remains Elusive With just 11 days left to avoid a shutdown, House Speaker Kevin McCarthy, Republican of California, remains at odds with …
Finance Committee to Markup Bill Ending Double-Taxation between U.S. and Taiwan Senate Finance Committee Chair Ron Wyden, Democrat of Oregon, has announced plans to convene a business meeting on September 14, …
Ways and Means Seeks Input on Questionable EO Activities The Committee on Ways and Means is conducting an investigation into whether entities that qualify as tax-exempt under Code Sec. 501 are …
Status Quo for States as U.S. Supreme Court Upholds Federal Mandatory Repatriation Tax The U.S. Supreme Court yesterday, in a 7-2 decision in Moore v. U.S., upheld the one-time federal transition tax on accumulated earnings …
DOL Revises Abandoned Plan Program, Extends Program Eligibility to Chapter 7 Bankruptcy Trustees Interim Final Rule: Abandoned Plan Regulations, 29 CFR Parts 2520, 2550, and 2578, 89 Fed. Reg. 43636 (May 17, 2024); …
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 …