PCAOB: ‘John Doe’ Auditor Challenging Enforcement Action Needs to Identify Self
An auditor challenging the constitutionality of PCAOB disciplinary proceedings against him should be required to identify himself, the board argued …
Thomson Reuters Tax & Accounting News | Uncategorized
FATCA IDES Migrating to Updated System June 14, 2024
The FATCA International Data Exchange Service (IDES) is migrating to an updated system and vendor beginning at 8 am EDT …
Reminder: 2024 Second Quarter Estimated Tax Payment Deadline is June 17
The IRS is reminding taxpayers who need to make estimated tax payments that the 2024 second quarter estimated tax deadline …
Suit Alleging All Day/Every Day On-Call Duty Fails FLSA Claim
By Debbie Tam The U.S. Court of Appeals for the Tenth Circuit ruled that an employee who claimed to be …
PCAOB Adopts Rule Intended to Increase Auditor Accountability
Less than a year after proposing a rule intended to more effectively deter auditor misconduct, the Public Company Accounting Oversight …
No Heightened Obligation Toward COBRA Qualified Beneficiary With Terminal Illness
Harris v. UnitedHealth Grp., Inc., 2024 WL 2734974 (N.D. Tex. 2024) In a dispute over insurance benefits, an employer was …
Thorny State Digital Tax Issues Dominate Villanova Tax Forum
The Villanova University Graduate Tax Program hosted its second annual State and Local Tax Forum on Thursday, June 6, 2024. …
IRS Official Talks ‘Digital Transformation’ Goals
For the IRS to effectively shift the taxpayer experience to a fully digital landscape, it must leverage teams across different …
Accounting Industry Confronts Talent Gap, Tech Disruption and ESG Pressures
The accounting industry is facing a triple threat of challenges, including a looming talent gap, rapid technological change, and the …
SEC Reappoints PCAOB Chair Williams For Second Term
The Securities and Exchange Commission (SEC) on June 11, 2024, said Erica Williams was appointed to a second term as …
Connecticut Extends NOL Carryforwards, Amends Other State and Local Taxes
Connecticut Governor Ned Lamont has signed legislation extending to 30 years the net operating loss (NOL) carryforward deduction and modifying …
A New Threat to Race-based Charitable Organizations
In a case contending that a nonprofit fund benefiting Black female entrepreneurs is discriminatory, the Eleventh Circuit has sided with …
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 …
Conservation Easements Valued in Charitable Deduction Disputes
The Tax Court, in 13 consolidated cases involving denied charitable contribution amounts for related conservation easements, determined the appropriate valuation …
Failure to File Deadline Approaching for EEO-1 Report
Employers are reminded of the impending deadline for the EEO-1 report, specifically the Component 1 filing due on July 9, 2024. Failure …
Qualified Disaster Relief Payments to East Palestine Derailment Victims Not Taxable Income
The IRS has issued guidance that certain payments received by victims of the train derailment in East Palestine, Ohio, may …
Do We Have to Furnish the Summary of Benefits and Coverage in Languages Other Than English?
QUESTION: What should our self-insured group health plan do to meet the requirement that a summary of benefits and coverage …
Bill Would Up Employer Child Care Assistance Credit
Bipartisan legislation introduced in the House last week would increase the amount of the tax credit that businesses can claim …