Accountants Predict Easier Year as Big Ticket FASB Changes Aren’t on the Table
This year will be easier for reporting companies than prior years because the FASB scaled back somewhat on major standard-setting …
Income and Business Activity Taxation of Cryptoassets: Multistate Nexus and Apportionment Concerns
Over the past eighteen months, the cryptocurrency market has weathered both extreme volatility and the revelation that cryptocurrency transactions once …
IRS Funding Cuts Accelerated in FY 2024 $1.6T Spending Deal
Previously agreed upon cuts from the IRS’ Inflation Reduction Act (PL 117-169) funds across fiscal years 2024 and 2025 would …
IRS Provides More Time for Clean Vehicle Dealers, Sellers to Submit Time-of-Sale Reports
The IRS has provided an extension of time for clean vehicle dealers and sellers to submit to the IRS their …
IRIS Launches 2024 Filing Season On January 10
During the January 4 IRS payroll industry call, the IRS announced that the 1099 filing platform, the Information Return Intake …
GAO Calls for Improvement in Use of Information Returns
The Government Accountability Office (GAO) has published a snapshot report which concluded that the IRS can improve its use of …
Tax Court Had Jurisdiction Over Petition Filed After 90-Day Limit and Before Date Listed in NOD
In a case of first impression, the Tax Court decided that a taxpayer’s Petition for Redetermination was timely even though …
Must Our Plan Offer COBRA Coverage to Spouses and Dependents Whose Coverage Was Dropped at Open Enrollment?
QUESTION: When employees drop coverage for dependents or spouses under our company’s group health plan during open enrollment, our practice …
From the Crime Desk, December 2023
This version of From the Crime Desk covers guilty pleas, convictions, sentences and more for the month of December 2023. …
Maryland Comptroller Provides Guidance on Private Letter Rulings Procedures and Administration
By Saleem A. Shareef The Maryland Comptroller’s Office has adopted new regulations (Md. Regs. Code §§ 03.01.05.01 through -.07, effective …