Ohio Updates IRC Conformity
by Raquel M. Mazarin On March 15, 2023, Governor Mike DeWine signed legislation incorporating Internal Revenue Code (IRC) changes made …
As Problems in Global Audit Persist, SEC Chief Accountant Reminds Lead Auditors of their Responsibilities
Securities and Exchange Commission Chief Accountant Paul Munter urged lead auditors to do a better job when other accounting firms …
NTA: Shift IRS Funding to Boost Taxpayer Service, IT Modernization
Congress should allocate a higher proportion of IRS funding towards taxpayer services and modernizing outdated internal systems and place less …
Yellen: Guidance Coming Soon for Inflation Reduction Act Energy Tax Credits
Treasury Secretary Janet Yellen assured Senate Finance Committee members in a raucous and wide-ranging hearing that much-needed guidance on energy …
Small Businesses Seek to Provide Input on Paid Leave Discussions
Ingrid Chawla The Small Business Ecosystem Group, an industry group representing businesses including Etsy, Pinterest, Eventbrite, Patreon, and others, penned …
Senate Republicans Blast Biden’s Budget Proposal
Republicans on the Senate Budget Committee fiercely criticized President Biden’s $6.9 billion budget proposal during a March 15 hearing, charging …
FASB Issues Proposal that Will Boost Disclosures around Income Taxes Companies Pay in U.S., Overseas
The FASB on March 15, 2023, proposed a package of income tax disclosure rules that will require companies to provide …
Sec. 179D Scores Wins in Congress, Tax Court, Tax Pro Says
Recent legislation and litigation involving the property deduction for energy efficient building projects should be seen as two major victories …
Silicon Valley Bank’s Failure Sparks Speculation that FASB Accounting Rules for Held-to-Maturity Debt Securities Should be Revised
In light of Silicon Valley Bank’s (SVB) failure, speculation has surfaced about whether the FASB’s accounting rules for held-to-maturity (HTM) …
Montana Adopts Single Sales Factor Apportionment Formula for 2025
by Teresa Callahan Legislation changing Montana’s multi-state corporation income tax apportionment formula to a single sales factor formula beginning in …