Michigan Updates Guidance on Taxability of Delivery and Installation Charges
by Peter G. Pupke The Michigan Department of Treasury has issued updated guidance on the taxability of delivery and installation …
IRS Overhauls Enforcement Strategy to Spare ‘Working-class’ Taxpayers, Target Top Earners
Reaffirming commitments made when the IRS received an $80 billion appropriation one year ago from the Inflation Reduction Act (PL …
FASB Unanimously Votes to Finalize Proposal on Accounting and Disclosure of Crypto Assets
The FASB on Sept. 6, 2023, unanimously voted to finalize proposed accounting rules on crypto assets—one of the board’s quickest …
New Digital Asset Regs a ‘Huge Milestone,’ Crypto Tax Expert Says
Long-awaited proposed regs clarifying information reporting and basis determination rules for digital asset transactions under the Infrastructure Investment and Jobs …
IRS Reminds Employers of Best Practices for Disaster Preparation
The IRS has released a reminder to taxpayers, ahead of the peak of the hurricane season, to have an emergency preparedness plan …
IRS Now Accepting Applications for 2024 Compliance Assurance Process
In a News Release, the IRS announced that it is now accepting applications for the 2024 Compliance Assurance Process (CAP) …
Court OKs Two-Part COBRA Election Notice, Dismisses Most Claims in Class Action
Bryant v. Walgreen Co., 2023 WL 5580415 (N.D. Ill. 2023) A group of terminated employees filed a class action lawsuit …
Auditing and Accounting Boards Should Work Together to Have Common Going Concern Standard, Former PCAOB Chief Auditor Says
After working on and off for a decade on a standard-setting project to consider revising the auditor’s evaluation and reporting …
FASB Unanimously Votes to Finalize Proposed Disclosure Rules on Income Taxes
The FASB on Aug. 30, 2023, unanimously voted to finalize proposed disclosure rules on income taxes, touting the benefits to …
IRS Mulls Future of Employee Retention Credit as Enforcement Ramps Up
Aggressive marketing pushing tax assistance with the employee retention credit has the IRS poised to crack down on fraudulent promotors …