DOL Investigations Find A Broad Spectrum of Violations
Recent investigations by the Department of Labor’s (DOL) Wage and Hour Division (WHD) have disclosed a variety of violations that …
Thomson Reuters Tax & Accounting News | Uncategorized
Congress Expected to Recess Until Mid-November
The House of Representatives will be out for six weeks starting October 1 and the Senate is expected to follow …
Tax Court Denies Conservation Appraisers’ Bid for Criminal Immunity
The U.S. Tax Court denied a Georgia partnership’s motion to immunize from criminal prosecution two appraisers in a dispute over …
PCAOB Chair Williams: ‘This board is approaching enforcement with a renewed vigilance’
Public Company Accounting Oversight Board (PCAOB) Chair Erica Williams has a strong message to accountants who audit public companies: “This …
Other Regulators are Discussing Implications of SEC Staff Accounting Bulletin on Crypto Safeguarding Activities
In response to a question at a conference about whether the Public Company Accounting Oversight Board is thinking about providing …
Ohio Sets Interest Rates for 2023
by Raquel M. Mazarin Each year, the Ohio Tax Commissioner must certify the interest rate that will apply to overdue …
Senate Readies Vote on Stopgap Government Funding
The Senate is preparing for a vote on a continuing resolution that would keep the federal government funded through mid-December …
Guide to Basic Crypto Terms from Ledgible and Checkpoint
Learning about the ins and outs of the cryptocurrency industry can be daunting. The industry is new, and its processes …
Judge Clears IRS to Seek Bank’s Crypto Customer Records
A New York City bank must produce records on U.S. customers of a digital asset trading platform who may owe …
Private Companies Don’t Want to be Struck Out of Crypto Accounting Rules Being Developed
Private Company Council (PCC) Chair Candace Wright on Sept. 22, 2022, said new accounting rules the FASB is developing for …
Republican Bill Would Raise Tax on University Endowments
Three Republicans in the House of Representatives introduced legislation aimed at Ivy League and other highly profitable universities that have …
Investor Advisory Committee Recommends SEC to Review Current Accounting Standard-Setting Practices
The Securities and Exchange Commission’s (SEC) Investor Advisory Committee (IAC) on Sept. 21, 2022, unanimously voted to recommend that the …
Accounting Rules Related to Leasehold Improvements May Change for Both Public and Private Companies
The FASB on Sept. 21, 2022, voted by 4 to 3 to issue a proposal that would change the accounting …
Improperly Forgiven PPP Loans Are Taxable Income
The IRS Chief Counsel’s Office issued an Advice Memorandum confirming that improperly forgiven paycheck protection loans are taxable income. The IRS urges …
Federal Employment Tax Deadlines for October
We have listed the October payroll tax deposit deadlines for semi-weekly and monthly depositors below. Semi-weekly depositors. Semi-weekly depositors must …
IRS Provides Tax Relief for Hurricane Fiona Victims in Puerto Rico
The IRS has extended, to February 15, 2023, the time to file federal tax returns and make certain payments for …
Investor Advocates Urge Audit Firm Regulator to Set More Targeted Plans and Goals
The Public Company Accounting Oversight Board (PCAOB) last month issued a five-year strategic plan that has four goals for public …
Senate Bill Would Force Large Private Companies to Register with SEC
Sen. Jack Reed of Rhode Island and two other Senate Democrats have filed legislation that would establish new SEC registration …