Treasury Officials Tease Upcoming OECD Pillar Two Guidance
The Organization for Economic Co-operation Development (OECD) is working with the U.S. to release guidance on its global minimum tax …
Michigan Updates Information on Income Tax Treatment of Retirement and Pension Benefits for Tax Year 2022
by Peter G. Pupke The Michigan Department of Treasury has issued a release that summarizes the Michigan income tax treatment …
Ways and Means Chairman Plans Aggressive IRS Oversight, Implements Direct Online Committee Portal for Agency Whistleblowers
The House Ways and Means Committee has established an online form to assist IRS personnel who wish to submit information confidentially to …
Client Update: How to Treat Tips for Tax Purposes
Individuals who perform services in certain industries receive tips as part of their compensation for the services they provide. Businesses …
Senate Democrats Push for PCAOB Inspection of Audits of Crypto Firms Acting as Broker-Dealers
Two Senate Democrats on Jan. 25, 2023, pressed PCAOB Chair Erica Williams on whether the board will inspect auditors of …
New Climate and Sustainability Disclosure Rules On Track for Issuance by June
New climate and sustainability disclosure rules are on track for issuance by the end of this year’s second quarter, International …
Tax Court: Engineering Firm Was Entitled to Energy Efficient Commercial Building Property Deduction
The Tax Court has found that an engineering company that installed energy efficient commercial building property (EECBP) in a Veterans …
New 1099 Filing Portal Launched
The long-awaited 1099 filing platform has gone live on the IRS website. The 1099 filing platform named IRIS allows users to …
Yellen Forced to Cut Another Investment in Federal Employees Retirement Funds Due to Debt Limit
The Federal government has stopped its investment in another federal employees’ retirement fund due to its breaching the debt limit …
Regulators Not Working on Dodd-Frank Banker Incentive Compensation Rules is Troubling, Reform Advocate Says
When the SEC in early January unveiled its semi-annual update to the rulemaking agenda, an unfinished Dodd-Frank executive compensation rule …