Nonprofits Should Disclose Risks of Big Donor Withdrawals Over Emerging Events, Panel Signals
Not-for-profit organizations should make sure they are providing good disclosures around the risk of big donors withdrawing contributions over “events …
House Republicans Form Tax Teams to Address 2025 Cliff
Newly formed Republican “tax teams” will study expiring Tax Cuts and Jobs Act (TCJA, PL 115-97) tax cuts, said House Ways and Means …
HHS Provides Update on Progress of Advanced Explanation of Benefits Guidance
Progress Toward Advanced Explanation of Benefits (AEOB) Rulemaking and Implementation (Apr. 23, 2024) Available at https://www.cms.gov/files/document/progress-aeob-rulemaking-implementation.pdf HHS has released an …
Werfel Notes ERC Process as Example of Digital Return Filing/Processing Benefits
IRS Commissioner Daniel Werfel’s April 16 testimony before the Senate Finance Committee on the tax filing season and IRS budget illustrated …
New York’s Fiscal Budget Bill Adds a New Tax Credit, Amends the Cannabis Tax, and Makes Other Changes
by Jill C. McNally After a number of Budget Extenders, New York’s 2024-2025 Budget Bill implementing the state’s fiscal plan …
IRS Releases Digital Asset Draft Form
The IRS on April 19 made available an early release draft of the information return for reporting digital asset transactions …
Investor Advisory Group Asks PCAOB to Strengthen Proposal on Firm Registration Rules
Members of the Public Company Accounting Oversight Board’s (PCAOB) Investor Advisory Group (MIAG) asked the board to strengthen its proposal …
TIGTA: IRS Has Mixed Success With Enforcement of ‘Ghost Employers’
The IRS’ criminal investigation processes for identifying and examining a certain group of noncompliant employers are currently more effective than …
Senate Stablecoin Bill Would Override SEC Crypto Accounting Bulletin
A bipartisan stablecoin framework rolled out on April 17, 2024, by Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) would …
Senate Report: Scam Victims Harmed by Casualty, Theft Loss Deduction Change
The Senate Special Committee on Aging published a report with its findings from an investigation into how the elimination of …