House Republicans Ask Commissioner Werfel 10 Questions on ERC Processes
The U.S. House of Representatives Committee on Ways and Means has requested that IRS Commissioner Daniel Werfel provide answers to 10 questions …
Lawmakers Press IRS on Tax Fairness, Employee Retention Credit Fraud
With a government shutdown averted for the time being, members of Congress in both chambers this week have refocused attention …
Agency FAQs (Part 61) Lift Enforcement Deferrals for Some Transparency in Coverage Requirements
FAQs About Affordable Care Act Implementation Part 61 (Sept. 27, 2023) Available at https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/our-activities/resource-center/faqs/aca-part-61.pdf The DOL, HHS, and IRS have issued FAQ guidance …
New Subtopic for Crypto Assets to be Added to Intangibles Section of U.S. GAAP by Year-End
The FASB plans to add a new subtopic number for crypto assets into the intangible assets section of the codification …
Reminder: Extended 2022 Return Due Dates Fast Approaching for Individuals, Corporations
The IRS reminds taxpayers of the October 16 tax filing extension deadline. To avoid a possible late filing penalty, those …
North Carolina Budget Bill Lowers the Personal Income Tax Rate and Enacts New Excise Tax on Uber and Lyft Among Other Changes
by Rita L. Eng On September 22, 2023, North Carolina Governor Roy Cooper announced that he will allow the budget, …
Congress Passes Last Minute CR Funding Government for 45 Days
On Saturday, September 30, 2023, Congress passed a last minute continuing resolution (HR 5860) that funds the federal government at …
Securities Regulator Charges Accounting Firm Prager Metis with Widespread Auditor Violations
The SEC charged accounting firm Prager Metis CPAs, LLC and its California professional services firm, Prager Metis CPAs LLP, for …
IRS Issues New Procedure on Wash Sale Rules for Money Market Funds
The IRS has issued a new procedure covering the wash sale rules for money market funds. The new procedure describes …
Senate Finance Grills IRS Chief Counsel Nominee
The Biden Administration nominee to serve as IRS Chief Counsel underwent critical questioning by Republican members of the Senate Finance …