House Takes Up Social Security, Terrorism Bills
Returning from a six-week district work period, the House considered two measures on Social Security that would impact public service …
Despite Election Results, PCAOB to Press Ahead With Noncompliance With Laws and Regulations
Despite coming administration change in early 2025, the Public Company Accounting Oversight Board (PCAOB) plans to press ahead with its …
Do Employer Contributions Count Toward the Contribution Limit That Applies to Health FSAs?
QUESTION: Our company’s cafeteria plan includes a health FSA that has always been funded solely by employee salary reductions. For …
Big 4 Tax Director: Fate of TCJA in the Hands of a ‘Very Different’ GOP
What ultimately becomes of permanent and temporary provisions of the Tax Cuts and Jobs Act (TCJA) will be largely decided …
Illinois Announces Municipal and County Cannabis Retailers’ Occupation Tax Rate Changes Effective January 1, 2025
By Margaret Eisler The Illinois Department of Revenue has announced the counties and municipalities that are imposing a cannabis retailers’ …
IRS Shares FY 2024 Revenues, Financial Position Ahead of Funding Fight
The IRS released its annual financial report for fiscal year 2024, touting strides taken using Inflation Reduction Act (P.L. 117-169) …
Public Hearing Set on Proposed Dual Consolidated Loss Regulations
The IRS and the Department of the Treasury have scheduled a public hearing this November on the proposed regulations regarding …
Hurricane Victims Granted Extensions Under Certain Benefit Plans
Several federal agencies in a joint notice announced extensions to various time frames for participants, beneficiaries, and qualified beneficiaries of …
IRS Announces 2025 Retirement Plan Dollar Limits and Thresholds
IRS Notice 2024-80 (Nov. 1, 2024); IRS News Release IR-2024-285 (Nov. 1, 2024) Notice News Release The IRS has announced …
Renewed Calls to Close Puerto Rico Tax Loophole
A group of House Democrats introduced a resolution in late October taking aim at a Puerto Rican tax regime they …