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 …
FASB Floats 5 Areas of Key Reforms to Simplify Hedge Accounting Rules The FASB proposed five areas of targeted changes to hedge accounting rules on September 25, 2024, to better align financial …
Exception to Derivatives Accounting Rules to be Expanded in Coming FASB Proposal The nation’s accounting rulemaker plans to propose rules this summer that would keep the boundaries of complex derivatives accounting rules …
SEC Plans to Adopt 16 Rules in Coming Months The Securities and Exchange Commission (SEC) is planning to adopt 16 rules in the coming months, according to the so-called …