Investor Group Chides FASB for Anchoring Goodwill Debate on Private Company Rules
By Denise Lugo A FASB July 2019 discussion paper on whether and how to change goodwill accounting rules for public …
Thomson Reuters Tax & Accounting
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Proposed Penalty Assessment is not “Initial Determination”
The Tax Court has held that a Form 5701, Notice of Proposed Assessment, (NOPA) was not an “initial determination” of …
SEC Commissioner Jackson Says Rule Change on Non-GAAP Measures for CEO Pay Should be Considered
By Soyoung Ho An investor advocate group last year petitioned the SEC to write a rule requiring public companies to …
IRS to Return Sequestered AMT Credit Amounts to Corporations
In an Information Release, the IRS has announced it will return sequestered funds to corporations claiming refundable AMT credits. Background—AMT …
Golden, Lawmakers Spar Over CECL Implementation
By Bill Flook FASB Chairman Russell Golden on January 15, 2020, sparred with lawmakers on a House Financial Services subcommittee …
Commissioner Jackson is Worried About SEC’s Inaction on Stock Buybacks
By Soyoung Ho SEC Commissioner Robert Jackson, who has been critical about the significant increases in corporate stock buybacks in …
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IRS and Security Summit partners issue identity theft and tax security checklist
In 2015, IRS convened a Security Summit with chief executive officers and leaders of private sector firms and federal and …
IRS Proposes Reliance Regs on Contribution Limits to ABLE Accounts
The IRS has proposed reliance regs under Code Sec. 529A that provide guidance on the amended contribution limits applicable to …
Final Regs Under Sec. 2010 Protect Gifts made Before 2026
The IRS has released final regs that adopt the special rule provided in the proposed regs issued in November 2018 …