Wyden Introduces Bills Revoking PGA/Saudi Tax Exemption & Tax Break
With the surprise merger between the PGA Tour and the Saudi Public Investment Fund (PIF) pending, Senate Finance Committee Chairman Ron Wyden, …
SEC Adopts Sweeping Cybersecurity Rules, Requiring Timely Reporting of Significant Breaches
The SEC on July 26, 2023, voted 3 to 2 to adopt a March 2022 proposal that requires public companies …
Recent IRS Webinar Highlights ERC Key Compliance Issues and Signs of ERC Fraud
Debbie Tam On July 25, the IRS presented a webinar on the Employee Retention Credit (ERC) to provide information regarding …
Bicameral GOP Bill Would Expand Child Tax Credit
A bill sponsored by Republicans in both the House and Senate would expand the Child Tax Credit to include unborn …
House Bill Would Require Yearly PCAOB Inspections for Audits of China-based Companies
A bipartisan House bill would again increase the frequency with which auditors of Chinese companies must be inspected by the …
PCAOB Chair Williams: Rising Audit Deficiency Rates are ‘Unacceptable’
Public Company Accounting Oversight Board (PCAOB) Chair Erica Williams urged accounting firms to do a better job of auditing public …
Employer’s Lack of COBRA Diligence Was Not Intentional Infliction of Emotional Distress
A former public-school employee sued the employer following his involuntary termination of employment. The majority of the employee’s claims were …
IOSCO Endorses Global ESG Rulemaker’s New Climate and Sustainability Disclosure Standards
The International Organization of Securities Commissions (IOSCO) endorsed the International Sustainability Standards Board’s (ISSB) two new climate and sustainability disclosure …
Chief Counsel Provides Guidance on ERC Eligibility for Supply Chain Disruption
In a Generic Legal Advice Memo, IRS Chief Counsel discussed whether an employer experienced a full or partial suspension of their …
IRS Ends Majority of Unannounced In-person Collection Visits
From now on, if someone comes to your home or place of business, they will highly unlikely be an IRS …