Sec. 179D Scores Wins in Congress, Tax Court, Tax Pro Says
Recent legislation and litigation involving the property deduction for energy efficient building projects should be seen as two major victories …
Silicon Valley Bank’s Failure Sparks Speculation that FASB Accounting Rules for Held-to-Maturity Debt Securities Should be Revised
In light of Silicon Valley Bank’s (SVB) failure, speculation has surfaced about whether the FASB’s accounting rules for held-to-maturity (HTM) …
Montana Adopts Single Sales Factor Apportionment Formula for 2025
by Teresa Callahan Legislation changing Montana’s multi-state corporation income tax apportionment formula to a single sales factor formula beginning in …
Transfer Pricing Enforcement, Advance Agreement Changes Coming, IRS Official Says
As part of the IRS’ hiring initiatives, increased staff will focus on transfer pricing noncompliance using sophisticated data analytics, according …
Ways and Means Republicans Grill Treasury Secretary Over Biden’s Budget
In a combative hearing, Republican majority members of the House Ways and Means Committee lambasted President Biden’s 2024 budget and …
Commissioner Uyeda Says SEC Should Consider Changes to Smaller Reporting Company Definition
SEC Commissioner Mark Uyeda in a speech suggested reducing rule compliance burdens, among other measures, to help smaller companies go …
Ex-SEC Commissioner Piwowar Suggests Cutting Commission Rulemaking from Legislative Reforms
Former SEC Commissioner Michael Piwowar on March 9, 2023, suggested Congress move forward with securities law reforms that do not …
Biden’s Budget Calls for Increased Taxes on the Wealthy to Reduce Deficit
President Biden’s $6.8 trillion budget proposal calls for nearly $5 trillion in tax increases on the wealthy and large corporations to help …
IRS Begins Digitalization Efforts Starting with Forms 940
The IRS has announced that it has started a new Digital Intake initiative with its initial efforts aimed at the digital …
Senate Advances Werfel Confirmation as IRS Commissioner
The Senate on March 8 agreed by a vote of 51-44 to end debate on the nomination of Daniel Werfel …