Tax Bill Roundup: January 2024
While much attention has been paid to a bipartisan tax bill involving the child tax credit and business tax benefits, …
IRS Again Taking ITIN Acceptance Agent Applications
Following a pause to allow time for the IRS to develop a new online application process, the agency is once …
Draft 2024 Form W-2 Instructions Note E-Filing Threshold Change and New Box 12 Code
The draft 2024 IRS Form W-2, Wage and Tax Statement, instructions note the threshold change for the electronic filing of several information …
Clean Vehicle Shoppers Deserve to Look Up Credit Eligibility Online by VIN, IRS Told
At a public rulemaking hearing, an IRS panel heard testimony on the searchability of eligible vehicles via an online tool …
The 200-Transactions Nexus Threshold Creeps into State Corporate Income Tax
In the five-plus years since Wayfair1 was decided, states and businesses have grappled with the level of economic contact needed to establish …
DOL Proposed Automatic Portability Regulations: What Defined Contribution Plans Need to Know
Automatic Portability Transaction Regulations, 29 CFR 2550, 89 Fed. Reg. 5624 (Jan. 29, 2024) Proposed Regulations News Release The DOL …
Michigan Explains Changes to Tax Treatment of “Prepared Food”
By Peter G. Pupke The Michigan Department of Treasury has issued a release explaining the legislative changes to the definition …
Tax Bill Scorers Assess Cost, Economic Impact of Temp Incentives/ERC Crackdown
In scoring the Tax Relief for American Families and Workers Act of 2024 (HR 7024), the Congressional Budget Office (CBO) …
Cash Flows Rules Causing Misleading Valuations of Tech Firms? Some Want FASB to Study
The FASB should add another project to its agenda on the statement of cash flows because current rules cause analysts …
AICPA Auditing Board’s 2024 Workplan Includes Several Standard-Setting Projects
The AICPA Auditing Standards Board (ASB) has four standard-setting projects, one project under active consideration, and one research project, according …