Wyden Sounds Alarm on Republican IRS Cuts
Senate Democrats are pushing back on Republican plans to claw back the $80 billion allotted to the IRS in the …
The Accountants Weigh in: Savvy Businesses Can Successfully Navigate This Year’s Economic Stresses
In the past three years, seven U.S. banks failed. These include Silicon Valley Bank, Signature Bank and First Republic Bank …
McCarthy Says Work Requirements Non-Negotiable as Debt Deadline Looms
President Biden and Houser Speaker Kevin McCarthy, Republican of California met May 16 where they were expected to discuss new …
PCAOB Moves Project on Audit Quality Indicators to Standard-Setting Agenda
The Public Company Accounting Oversight Board (PCAOB) will consider issuing a proposal on key audit quality indicators (AQIs) in the …
FASB Proposes to Introduce Illustrative Example of Profits Interest Awards in U.S. GAAP
Businesses have two months to weigh in on a FASB proposal that provides an example to illustrate how to account …
E-Filing Patch to ‘Mailbox Rule’ Growing in Popularity
A proposal to prevent taxpayers from being hit with late penalties when payments and documents are submitted electronically on or …
Iowa Enacts Pass-Through Entity Tax SALT Cap Workaround
by Vidor A. Nosce Iowa has enacted an entity-level tax election for pass-through entities that allows a partner or shareholder …
The Potential of AI in Tax Practice Relies on Understanding its Limitations, Experts Say
Curiosity, conversation, and investment into artificial intelligence are quickly gaining traction in the tax community, but proper due diligence requires …
IRS Urges Employers to Protect Themselves By Hiring Trusted Payroll Service Providers
In a May 10 “Tax Tip,” the IRS is stressing to employers the importance of selecting a trusted third-party payroll …
Senator Asks IRS for Status Update on Employee Retention Credit Backlog
New York Democratic Senator Kirsten Gillibrand has asked the IRS commissioner to provide information on the current state of the …