End Direct File on ‘Day One,’ Say House Republicans Representative Adrian Smith (R-NE), joined by 27 House Republicans, urged President-elect Donald Trump to immediately end the IRS’ free e-filing …
Dems Renew Call for Action on Premium Tax Credit After the Congressional Budget Office (CBO) found that 3.8 million Americans will go uninsured if an expiring tax credit is …
The SALT Battle The future of the state and local tax (SALT) deduction cap may play a pivotal role in the 2025 tax …
Werfel, Lawmakers React to Trump’s IRS Commissioner Pick Current IRS Commissioner Danny Werfel spoke at a tax conference hosted by the University of Texas following President-elect Donald Trump’s …
With Reporting Deadline Looming, Court Blocks Corporate Transparency Act Enforcement On December 3, a Texas federal district court preliminarily barred enforcement of the Corporate Transparency Act nationwide — the broad …
SCOTUS Weighs Bankruptcy Trustee’s Ability to Claw Back Tax Payments This Monday, the U.S. Supreme Court considered whether federal tax payments made on behalf of a now-bankrupt company’s owners can …
FASB Pushes Forward with Targeted Accounting Reforms, Investors to Benefit The FASB remains on track with its efforts to enhance financial reporting standards, with a slew of new proposals and …
IRS Releases 2024 Draft of Small Employers’ Annual Tax Return Instructions The IRS issued a September 17, 2024, draft version of the Form 944, Employer’s Annual Federal Tax Return instructions used by small employers …
Government Grants Accounting to Get New Rules, Establishing Reporting Guidelines for Businesses he FASB voted on June 4, 2024, to issue a proposal that aims to standardize and clarify the accounting practices …