IRS Withdraws, Reproposes Foreign Currency Gain, Loss Regs
The IRS has released new proposed regulations on making and revoking certain foreign currency gain or loss elections. These new …
Circuit Court Revives Crypto Reporting Legal Challenge
In partially reversing a lower court’s dismissal of multiple constitutional challenges to the amended Code section requiring the disclosure of …
FASB Pushes Forward with Targeted Accounting Reforms, Investors to Benefit
The FASB remains on track with its efforts to enhance financial reporting standards, with a slew of new proposals and …
Clean Electricity Reg Commenters Want 80/20 Rule Tweaks
Clean electricity stakeholders told the IRS at a reg hearing this week that clarifications are needed before final regs are …
Bipartisan Effort Would Enhance Child Care Tax Credits
Senators Tim Kaine (D-VA) and Katie Britt (R-AL) introduced a pair of bills aimed making child care more accessible and …
With Threat of Lawsuit, SEC Once Again Delays Approving PCAOB’s New Quality Control Standard
The Public Company Accounting Oversight Board (PCAOB) recently finalized quality control (QC) standard, which is strongly opposed by auditors, and …
HHS Announces Civil Monetary Penalties for HIPAA, MSP, and SBC Violations, Effective August 8, 2024
HHS, Annual Civil Monetary Penalties Inflation Adjustment, 45 CFR Part 102, 89 Fed. Reg. 64815 (Aug. 8, 2024) Available at …
Reform, Investor Groups Ask SEC to Require More Public Reporting of Tax Information by Multinationals
The Financial Accountability and Corporate Transparency (FACT) Coalition has petitioned the Securities and Exchange Commission (SEC) to write a rule …
GASB Chair: SEC’s Financial Data Transparency Rule Aligns with Expectations, but Raises Industry Concerns
Governmental Accounting Standards Board (GASB) Chair Joel Black told trustees on August 13, 2024, that the SEC’s proposed rule on …
Pushback Against Corporate Transparency Act Filing Requirements Continues
Another case alleging that the Corporate Transparency Act’s beneficial ownership reporting requirements are unconstitutional has been filed — while cases …