Debt Ceiling Deal Would Slash Deficits by $1.5T, CBO Says
In scoring the Fiscal Responsibility Act of 2023 (HR 3746), the Congressional Budget Office estimated that the pending debt ceiling …
DOL Guidance Clarifies Holidays Do Not Necessarily Count Towards FMLA Leave Entitlement Calculation
The U.S. Department of Labor (DOL) has released Opinion Letter FMLA2023-2-A that affirms the DOL’s position that holidays for which an employee would …
House GOP Conservatives Pan Debt Limit Bill, Threaten to Oust McCarthy
More than a dozen House Republicans say they won’t vote for the latest debt limit bill forged over the weekend …
Minnesota Omnibus Tax Bill Enacts IRC Conformity, One-Time Rebate and Other Tax Changes
by Peter G. Pupke On May 24, 2023, Minnesota Governor Tim Waltz signed an omnibus tax bill that includes a …
Extending Trump-Era Tax Cuts Would Worsen Income Inequality, Analyst Says
Costly provisions of the Tax Cuts and Jobs Act of 2017 (PL 115-97) set to expire in 2025 should not …
IRS Provides Guidance on Employee Plans Compliance Resolution System
The IRS has issued a notice providing guidance on the expansion of the Employee Plans Compliance Resolution System (EPCRS). (Notice …
AICPA Auditing Standards Board’s Work Plan Includes Potential Convergence Projects with International Standards
The AICPA’s Auditing Standards Board (ASB) is working on several standard-setting or research projects, according to its 2023 workplan, which …
IASB Issues Disclosure Rules to Boost Transparency around Terms of Supplier Finance Arrangements
The International Accounting Standards Board (IASB) on May 25, 2023, issued a package of disclosure rules to boost transparency around …
House Bill Seeks to Streamline Tax Extension Requests
Bipartisan proposed legislation would prevent taxpayers from incurring penalties for failing to accurately calculate estimated payments for current-year tax liability …
Payroll Congress: OCSE Addresses Child Support Questions
Debbie Tam, CPP PayrollOrg (formerly known as the American Payroll Association) held its 41st Payroll Congress in Denver, Colorado. During …