Data Theft Was Not Necessarily “Gross Misconduct” That Would Preclude COBRA Coverage
Johnson v. City of Kewanee, 2023 WL 8091963 (C.D. Ill. 2023) Two city employees—a married couple—were terminated for allegedly stealing …
Accounting Profession Not Just About Closing Books and Issuing Reports, Chief Accountants Say
The accounting profession is not just about closing books and producing annual and quarterly reports but about bringing value to …
Supreme Court Hopes to Avoid Tax Code Upheaval in Moore Ruling
Regardless of whether the Supreme Court rules in favor of petitioners or the government in a constitutional challenge to the …
US Regulator Fines Chinese Auditors $7.9M
A year after the US Public Company Accounting Oversight Board (PCAOB) was able to inspect Chinese and Hong Kong audit …
IRS to Shutdown Business Filing Tuesday, December 26
In a Quick Alert for Tax Professionals, the IRS announced that it will shut down its modernized e-filing system (MeF) for …
FinCEN Extends Beneficial Ownership Information Reports Deadline for New Entities
The Financial Crimes Enforcement Network (FinCEN) has extended the deadline for new entities to file their initial beneficial ownership information (BOI) reports. …
IRS Says No Worker Classification Letter Rulings for Prospective Employment
In a recently released IRS Information Letter, the IRS addressed an individual taxpayer worker classification inquiry regarding performing work as …
Agency FAQs (Part 63) Address Surprise Billing IDR Batching Issues; Highlight Updated CLAS Guidance
FAQs About Affordable Care Act and Consolidated Appropriations Act, 2021 Implementation Part 63 (Nov. 28, 2023); County Data for Culturally and Linguistically …
FASB Publishes New Segment Expense Disclosure Rules for Public Companies
The FASB issued a new accounting standard on November 27, 2023, which makes the biggest changes in 25 years to …
Michigan Updates Guidance on Tax Treatment of Retirement Income
By Peter G. Pupke The Michigan Department of Treasury issued a release that discusses the tax treatment of retirement and …