Revenues From Two-Pillar Plan Higher Than Expected, OECD Estimates
The Organization for Economic Cooperation and Development has adjusted upwards revenue estimates from its international tax framework, with a full …
Storm Victims in Georgia, Alabama Get Tax Relief
The IRS has provided tax relief to storm victims in parts of Georgia and Alabama. Victims in the disaster area …
American Payroll Association Notes Concerns With Labor Department’s Proposed Worker Classification Rule
The American Payroll Association (APA) has shared its comments to the U.S. Department of Labor regarding concerns to its proposed worker classification …
Additional IRS Guidance Needed on Reporting Tax Scams, Says GAO
The IRS needs to improve its instructions to the public on how to report tax schemes for the agency to …
FASB Plans to Require More Detailed Disclosures of Income Statement Expenses
The Financial Accounting Standards Board (FASB) last week made some significant decisions to provide investors more insight into corporations’ income …
Payors Should Be ‘Vigilant’ During Form 1099-K Transition Period, Tax Pro Says
After the IRS conceded to outside pressure from stakeholders to delay the implementation of the $600 de minimis threshold for reporting third-party …
Top 5 Accounting Rules to Hit Companies’ Books This Year, Including Issues to Watch For
Several of the FASB’s significant accounting standards take effect for the first time this year for businesses, including new rules …
Minnesota Enacts IRC Conformity Legislation
by Peter G. Pupke On January 12, 2023, Minnesota Governor Walz approved a bill that conforms the state taxes that reference …
US to Hit Debt Limit Jan. 19, Treasury Secretary Warns
Absent congressional intervention the federal government will reach its limit on the amount of money it is authorized to borrow …
Republicans Add 10 New Members to Tax Writing Committee
Newly elected House Ways and Means Committee Chairman Jason Smith, a Missouri republican unveiled on January 11 the new Republican …