IRS Provides Transition Relief From Section 603 Catch-up Contribution Change
The IRS announced a two-year administrative transition period for the new Roth catch-up requirement. Section 603 of the SECURE 2.0 …
NATP Fee Study Shows Tax Becoming a ‘Graying Industry,’ Director Says
Commenting on the National Association of Tax Professionals’ biannual study on trends within the tax industry, an executive from the …
American Bar Association Comments on Proposed Elective Credit Payment Regs
Finalized regs implementing the direct pay election for certain credits under the Inflation Reduction Act (PL 117-169) need specific clarifications …
Regulators Put Long Overdue Dodd-Frank Incentive Compensation Rulemaking on Short-Term Agenda
When the SEC in mid-June unveiled its semi-annual update to the rulemaking agenda, an unfinished Dodd-Frank executive compensation rule was …
IRS Says Federal Credit Unions May Claim ERC for Certain Periods
In a Chief Counsel Advice, the IRS Chief Counsel’s Office addresses whether federal credit unions may claim the employee retention …
SEC Adopts Sweeping Rules for Private Fund Advisers
The Securities and Exchange Commission on Aug. 23, 2023, adopted new rules that increase the regulation of private funds. Under …
New York Updates and Adds New Information on the Pass-Through Entity Tax.
by Jill C. McNally The Pass-through Entity Tax (PTET) is an elective tax imposed on an electing entity’s pass-through taxable …
Tenth Circuit Holds That ERISA Preempts Oklahoma PBM Law
Pharm. Care Mgmt. Ass’n v. Mulready, 2023 WL 5218138 (10th Cir. 2023) Available at https://www.ca10.uscourts.gov/sites/ca10/files/opinions/010110903570.pdf The Tenth Circuit has held …
Child Tax Credit Bill Has One Fatal Flaw, Nonprofit Says
A recent legislative proposal introduced by a cohort of Senate Democrats to permanently restore the now lapsed expanded child tax …
Exclusive Midyear Interview with FASB Chair Richard Jones
FASB Chair Richard Jones likened the accounting year so far to country music group Zac Brown Band’s “Same Boat,” a …