Notice Provides More Guidance on New Sustainable Aviation Fuel Credit
The IRS has issued more guidance on the new Sustainable Aviation Fuel credit. The SAF credit applies to qualified fuel …
Newly Issued FASB Rules Require Fuller Disclosure of Taxes Paid in US, Other Countries
The nation’s main accounting rulemaker on December 14, 2023, published new disclosure rules that require more transparency about income taxes …
House Bill Reintroduced to Add FASB Procedural Checks, Require Annual Chair Testimony
A House Republican on December 12, 2023, reintroduced legislation requiring the chair of the FASB to testify annually before two …
FASB Publishes its First Direct Accounting Standard for Reporting Crypto Assets
The FASB on December 13, 2023, issued its first direct accounting and disclosure standard on crypto assets to provide guidance …
SEC to Consider PCAOB’s 2024 Budget
The SEC has scheduled a meeting for December 13, 2023, to consider approving the PCAOB’s 2024 budget of $384.7 million, …
FASB Rolling out New Process Next Year to Leverage Emerging Issues Task Force
FASB Chair Richard Jones told a conference on December 5, 2023, that the board will roll out a new process …
Insurers Provided Discount Factors for 2023 Accident Year
The IRS has issued a revenue procedure containing the discount factors for the 2023 accident year. This discount factor is …
FTC Expands Reporting Regulations for Non-Bank Financial Institutions
By Todd Ehret New regulations from the US Federal Trade Commission (FTC) will change the regulatory landscape for non-banking financial …
Annual IRS Unemployment Tax Forms Confirm FUTA Credit Reduction States
The IRS issued the annual Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, its instructions, and Schedule A (Form 940), Multi-State Employer and Credit …
SEC Approves PCAOB’s New Audit Confirmation Standard
The SEC has approved the PCAOB’s new standard that modernizes the auditor’s confirmation process, stating that it is “necessary or …