North Carolina Budget Bill Lowers the Personal Income Tax Rate and Enacts New Excise Tax on Uber and Lyft Among Other Changes
by Rita L. Eng On September 22, 2023, North Carolina Governor Roy Cooper announced that he will allow the budget, …
Congress Passes Last Minute CR Funding Government for 45 Days
On Saturday, September 30, 2023, Congress passed a last minute continuing resolution (HR 5860) that funds the federal government at …
Securities Regulator Charges Accounting Firm Prager Metis with Widespread Auditor Violations
The SEC charged accounting firm Prager Metis CPAs, LLC and its California professional services firm, Prager Metis CPAs LLP, for …
IRS Issues New Procedure on Wash Sale Rules for Money Market Funds
The IRS has issued a new procedure covering the wash sale rules for money market funds. The new procedure describes …
Senate Finance Grills IRS Chief Counsel Nominee
The Biden Administration nominee to serve as IRS Chief Counsel underwent critical questioning by Republican members of the Senate Finance …
Proposed Rules for Reporting Excise Tax Liability on Designated Drugs Issued
The IRS has issued proposed regs that will provide guidance to taxpayers on how to report their liability for the excise tax …
Minimum Wage Rates for Federal Contractors Increase in 2024
The U.S. Department of Labor’s (DOL) Wage and Hour Division (WHD) has released two Notices regarding the 2024 minimum wage rates for …
IRS Forming Backup Plans as Government Shutdown Nears
The IRS is forming contingency plans as the likelihood of a government shutdown approaches, the union representing Treasury and IRS …
City of Portland, Oregon Enacts Downtown Business Incentive Credit
by Margaret Eisler The City of Portland, Oregon has adopted a downtown business incentive credit, to be taken against the …
IRS Announces Tax Relief for Hurricane Lee Victims in Maine and Massachusetts
The Internal Revenue Service (IRS) has announced that taxpayers impacted by Hurricane Lee in Maine and Massachusetts are now eligible …