FASB Proposes to Amend Credit Loss Accounting Rules to Simplify Reporting of Purchased Financial Assets
The FASB on June 27, 2023, issued a proposal to obtain public comment on changes to provide a single accounting …
Supreme Court Takes Up Constitutional Challenge to TCJA Transition Tax
The Supreme Court will hear a couple’s case where the taxpayers, who both owned shares in a controlled foreign corporation …
Kansas Issues Guidance Regarding Delivery Fees Charged by Retailers
by Ashleigh M. Paige The Kansas Department of Revenue has issued a notice regarding L. 2022, H2136, effective from and after …
NTA: 2023 Filing Season a Massive Improvement Over Last Year
In her statutorily mandated midyear report to Congress, National Taxpayer Advocate Erin Collins shared that the IRS is doing a …
Unique Effective Date Challenge Posed for Private Companies on Coming FASB Rules on SEC Disclosures
Private companies will not know when coming FASB disclosure rules that are aimed at incorporating certain SEC disclosures into U.S. …
Client Update: Deducting Business Travel Expenses
Like a lot of tax rules, the rules regarding business travel expense deductions can be confusing. This Client Update discusses some things …
JCT: Revenue Effects of Global Minimum Tax ‘Highly Uncertain’
Tax Receipts could either rise or drop by billions depending on which countries, including the United States, implement a proposed …
NLRB Reverses Position on Worker Misclassification Standards
Debbie Tam The National Labor Relations Board (NLRB) has issued a decision that reinstates its prior position requiring a 10-factor approach to determine …
Advisory Panel Discusses Ideas to Increase Transparency of Audit and PCAOB Inspection
During a meeting of the PCAOB’s Investor Advisory Group (IAG), a subcommittee of the panel discussed a set of 11 …
Court Concludes Benefits Committee Failed to Delegate Discretionary Authority, Imposes Penalties for Failure to Timely Provide ERISA Plan Documents
Laake v. Benefits Committee, Western & Southern Fin. Group Co. Flexible Benefits Plan, 2023 WL 3559602 (6th Cir. 2023) A …