Bicameral Bill Would Regulate Return Preparers
Senator Cory Booker, Democrat of New Jersey and Representative Suzanne Bonamici, Democrat of Oregon, on April 19 introduced bicameral legislation …
Study Finds Negative Impact on Audit Partners who Give Adverse Internal Control Opinions
As regulators review audit independence requirements to figure out whether the rules should be changed in order to promote auditor …
Companies Can Focus Solely on Climate-Related Disclosures at First Adoption Next Year, ESG Rulemaker Says
The International Sustainability Standards Board (ISSB) voted on April 4, 2023, to grant companies the option to only report on …
Former IRS Commissioner, Practitioners Weigh In On Strategic Operating Plan
As the tax community digests the IRS’ Strategic Operating Plan detailing its vision for spending the 10-year, $80 billion appropriation …
IRS Issues 2023 Draft Form 941-X With Minor Changes As Backlog Continues to Grow
A few days before the IRS issued an April 2023 draft version of Form 941-X (Adjusted Employer’s Quarterly Federal Tax Return or …
Werfel Commits to Transparency on Audits, Spending
IRS Commissioner Daniel Werfel told the Senate Finance Committee April 19 that the agency was fully committed to transparency in …
SEC Chair Gensler Defends Staff Accounting Bulletin 121 in Crypto-Heavy House Hearing
SEC Chair Gary Gensler on April 18, 2023, defended the year-old Staff Accounting Bulletin (SAB) No. 121 before a House panel, pushing …
Digitization Led to Successful Tax Season, Officials Say
Early efforts by the IRS to deploy Inflation Reduction Act (PL 117-169) funds towards expanding electronic filing tools and implementing …
CPAs Comment on Interim Corporate AMT Guidance
As the IRS considers guidance and proposed regs on the corporate alternative minimum tax (CAMT) established under the Inflation Reduction …
Arkansas Waterways Investment Income Tax Credit Created
Arkansas Governor Sarah Huckabee Sanders has signed legislation providing a credit against income tax for the cost of making capital …