Many Accounting Firms Will Be Required to Comply With New Beneficial Ownership Reporting Rules
By PPC Staff In January, we gave you a heads up on the beneficial ownership reporting requirements under the Corporate Transparency Act. …
PCAOB Fines WithumSmith+Brown $2M for Widespread Quality Control Failures in SPAC Audits
The PCAOB on February 21, 2024, said WithumSmith+Brown, PC was fined $2 million for widespread failures to comply with board …
Energy Sector Pushes Back Against Investment Tax Credit ’80/20 Rule’
Representatives from the energy industry asked the IRS to further clarify or outright eliminate an eligibility test included in proposed energy …
Payroll on Point: Employee Inquiries on Withholding During Tax Filing Season
By Debbie Tam Checkpoint’s Payroll on Point series explores common payroll scenarios and offers practical guidance. Question: Now that the 2023 …
IRS Crackdown on Personal Use of Corporate Aircraft Takes Off
he IRS announced it will use enforcement funds from the Inflation Reduction Act (PL 117-169) to initiate dozens of new …
EBSA Highlights Its 2023 Enforcement Results
Fact Sheet: EBSA Restores Over $1.4 Billion to Employee Benefit Plans, Participants, and Beneficiaries Fact Sheet News Release The DOL …
Another Deference Blow: In Rebuke, California Court Voids Non-Compliant Tax Regulations
Judicial deference to administrative agency regulations is a contentious topic in the legal sphere. As a recent article by this …
Tax Court Rejects IRS Clawback of Low-Income Housing Credit
The Tax Court rejected the IRS’ attempt to recapture low-income housing credits from a real estate developer and determined that …
Maryland Comptroller’s Office Announces Important Information for 2023 Income Tax Returns
By Saleem A. Shareef The Maryland Comptroller’s Office has announced important information for individual and business taxpayers regarding their 2023 …
House Blocks SALT Marriage Penalty Relief Bill
A bill that would allow married joint filers with incomes up to $500,000 to have their own $10,000 state and …