TEI Conference: Treasury, IRS Have Loaded Guidance To-Do List
An underlying theme in comments from several government speakers at a recent tax conference is that although some preliminary guidance …
Consider Developing a Standard Definition of EBITDA for U.S. GAAP, FASB Advisers Say
Senior accountants said the FASB should consider standardizing the definition of EBITDA, the acronym for Earnings Before Interest, Taxes, Depreciation, …
IRS SB/SE Examination Director Says Service Considering Eliminating Form 944 “As We Speak”
By Christopher Wood During a March 20 presentation by the IRS on employment tax at the American Payroll Association’s (APA) …
Ohio Updates IRC Conformity
by Raquel M. Mazarin On March 15, 2023, Governor Mike DeWine signed legislation incorporating Internal Revenue Code (IRC) changes made …
As Problems in Global Audit Persist, SEC Chief Accountant Reminds Lead Auditors of their Responsibilities
Securities and Exchange Commission Chief Accountant Paul Munter urged lead auditors to do a better job when other accounting firms …
NTA: Shift IRS Funding to Boost Taxpayer Service, IT Modernization
Congress should allocate a higher proportion of IRS funding towards taxpayer services and modernizing outdated internal systems and place less …
Yellen: Guidance Coming Soon for Inflation Reduction Act Energy Tax Credits
Treasury Secretary Janet Yellen assured Senate Finance Committee members in a raucous and wide-ranging hearing that much-needed guidance on energy …
Small Businesses Seek to Provide Input on Paid Leave Discussions
Ingrid Chawla The Small Business Ecosystem Group, an industry group representing businesses including Etsy, Pinterest, Eventbrite, Patreon, and others, penned …
Senate Republicans Blast Biden’s Budget Proposal
Republicans on the Senate Budget Committee fiercely criticized President Biden’s $6.9 billion budget proposal during a March 15 hearing, charging …
FASB Issues Proposal that Will Boost Disclosures around Income Taxes Companies Pay in U.S., Overseas
The FASB on March 15, 2023, proposed a package of income tax disclosure rules that will require companies to provide …