Bipartisan Bill Exempting Broadband Grants Reintroduced
Legislation recently proposed in the previous Congress that would shield certain federal grants for broadband internet deployment projects from taxation …
Illinois Enacts Changes to Various Credits and Incentives
by Krista A. Cohane On February 3, 2023, Illinois Governor JB Pritzker signed legislation approving the creation of a sustainable …
Bridge Plus Phrase to Compliance Assurance Process Program to be Piloted
The IRS is piloting changes to the Bridge phase of the Compliance Assurance Process (CAP) program, according to an IRS …
Audit Committees are Increasingly Tasked with Additional Areas of Oversight, Survey Finds
The scope of a company’s audit committee’s oversight responsibilities continues to expand, according to a new report from Deloitte Development …
Senate Finance Finalizes Roster With Three New Republicans
The Senate Finance Committee roster for the 118th Congress includes 14 Democrats and 13 Republicans, with three new GOP members …
AICPA’s Auditing Standards Board Votes to Finalize Proposed Group Audits Standard
The AICPA’s Auditing Standards Board (ASB) voted to finalize its proposal on group audits during a video meeting held from …
Senate Finance Committee Schedules IRS Commissioner Confirmation Hearing
Several months removed from former IRS Commissioner Chuck Rettig’s departure, the Senate Finance Committee will consider President Biden’s nomination of …
FASB to Issue One New Accounting Standard and Three Proposals This Quarter
The FASB plans to issue one new standard and three proposals by the end of this reporting quarter, according to …
President Biden’s State of the Union Calls Out No Tax Increases and Paid Leave
On February 7, 2023, President Biden delivered his State of the Union address. The speech urged bipartisan cooperation and touched …
SEC Seeks Candidates to Serve as PCAOB Member
The Securities and Exchange Commission on Feb. 7, 2023, said that it is seeking candidates to serve as a board …