Divided SEC Makes it More Difficult for Shareholders to Bring Proposals for Vote at Annual Meetings
By Soyoung Ho Despite strong opposition from investor groups, a divided SEC on September 23, 2020, decided to finalize a …
Thomson Reuters Tax & Accounting
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Sept. 29 Deadline for Amending 2018, 2019 Partnership Returns to Reflect Cares Act
Reminder: September 29, 2020 is the deadline for partnerships that are subject to the Bipartisan Budget Act of 2015 (BBA)’s …
FASB Proposes Alternative to Simplify Reporting of Initial Franchise Fees
By Denise Lugo The FASB on September 21, 2020, issued a proposal that would give privately owned franchisors an accounting …
Final REGs on SEC. 958(b) Ownership Attribution Rules
The IRS has issued final regs on the ownership attribution rules under Code Sec. 958(b); that Code section was modified by …
Institutional Shareholder Services Asks Judge to Toss Out Proxy Advice Rules, Guidance
By Bill Flook Institutional Shareholder Services (ISS) on September 18, 2020, asked a U.S. District Court to invalidate the SEC’s …
Nonprofit Sector Gets New Presentation and Disclosure Rules for Reporting Gifts-in-Kind Donations
By Denise Lugo The FASB on September 17, 2020, issued an accounting standard that will provide clearer financial information about …
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Proposed Reliance REGs on Disallowed Transportation and Commuting Expenses
IRS has issued proposed reliance regs that reflect the 2017 Tax Cut and Jobs Act (P.L. 115-97, TCJA) rules that eliminate …
Sales and Use Tax Relief Provided in Response to COVID-19
As the battle against the coronavirus (COVID-19) pandemic continues, states and localities are providing taxpayers with some tax relief. The …
IRS Lists Returns That are Due July 15
On its website, IRS has posted a list of tax returns that are due July 15, 2020. Background. In Notice 2020-23, …