Perceived Corruption Reduces Trust in Tax Systems, Survey Shows
The latest biennial survey conducted by three financial professional organizations shows that across the globe, concerns over how tax revenue …
At Hearing, Senate Democrats Step up Calls for SEC to Wrap up Climate Rules
Senate Democrats on Sept. 12, 2023, stepped up pressure on SEC Chair Gary Gensler to wrap up the commission’s sweeping …
DOL Extends Grace Period for Obtaining Login.gov Credentials for EFAST2 Filing System Until End of 2023
News Release: Department of Labor Extending Grace Period for EFAST2 Login Credentials (Aug. 28, 2023) Available at https://www.dol.gov/newsroom/releases/ebsa/ebsa20230828 The DOL …
Finance Committee to Markup Bill Ending Double-Taxation between U.S. and Taiwan
Senate Finance Committee Chair Ron Wyden, Democrat of Oregon, has announced plans to convene a business meeting on September 14, …
Accounting Rules for a Simple Agreement for Future Equity Raising Concerns, FASB Private Company Panel Says
Firms have raised concerns to the FASB’s private company advisers about the complexity of reporting a Simple Agreement for Future …
Client Update: Taxation of Nonresident Aliens
Individuals and entities that are not U.S. citizens or residents may be required to report income that is effectively connected with …
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 …