IRS Announces Tax Relief for Hurricane Lee Victims in Maine and Massachusetts
The Internal Revenue Service (IRS) has announced that taxpayers impacted by Hurricane Lee in Maine and Massachusetts are now eligible …
Investor Panel Recommends SEC to Increase Workforce Disclosure Requirement
The Securities and Exchange Commission’s Investor Advisory Committee (IAC) unanimously voted to recommend the commission write a rule that requires …
Win for Taxpayers in Transition Tax Case Would Cast ‘Cloud of Uncertainty,’ Analysts Say
By Tim Shaw Tax and legal analysts are forecasting a possible chaotic domino effect should the Supreme Court rule in …
Experienced Accountants Sought by IRS for New Large Corp, Partnership Auditor Positions
The IRS has posted over 3,700 new job openings for revenue agents specializing in large corporate and complex partnership compliance …
IRS Requests Feedback on Proposed Changes to Form 6765
The IRS is seeking feedback from stakeholders on proposed changes to Form 6765, Credit for Increasing Research Activities, also known as the …
US Treasury Bureau Releases Beneficial Ownership Reporting Guide, Industry Displeased
By Brett Wolf U.S. Treasury Department’s anti-money laundering bureau has released a much-anticipated guide aimed at helping small businesses comply …
HHS Updates Security Risk Assessment Tool to Help With HIPAA Security Rule Compliance
Security Risk Assessment Tool; Security Risk Assessment Tool v3.4 User Guide (Sept. 5, 2023) Webpage User Guide HHS has announced an updated version of its interactive Security Risk …
Government Shutdown Looms as Funding Solution Remains Elusive
With just 11 days left to avoid a shutdown, House Speaker Kevin McCarthy, Republican of California, remains at odds with …
Virginia Enacts Amended Budget That Increases IRC Sec. 163(j) Deduction, Increases Standard Deduction, Gives New Rebate, and Reinstates Sales Tax Holiday
by Rebecca A. Helmes Virginia Governor Glenn Youngkin signed legislation on September 14, 2023, amending Virginia’s budget for the 2022-2024 …
Client Update: Educator Expense Deduction
This Client Update discusses the 2023 Educator Expense deduction. For 2023 this adjustment is worth $300. (IR 2023-150, 8/17/2023) Educator …