IRS Finalizes 2013 Proposed Regs on Partnership Recourse Liabilities, Related-Party Rules
The IRS has finalized proposed rules from 2013 that address the allocation of recourse liabilities among partners and the related-party …
Louisiana Constitutional Referendum Would Amend Numerous Tax Provisions
Legislation establishing a constitutional referendum, pending voter approval at a statewide election to be held March 29, 2025, has become …
Will the U.S. Supreme Court Clarify Application of P.L. 86-272?
As previously reported, a tobacco manufacturer seeks U.S. Supreme Court review of an Oregon ruling that its activities were not protected …
IRS’s AI Work Hard to Track, Watchdog Says
Although the IRS has dozens of ongoing projects that involve the use of artificial intelligence (AI), the agency struggles to …
With Time Running Out, SEC Quickly Seeks to Consider Approving PCAOB’s Audit Firm Transparency Rules
With the clock ticking with administration change next year, observers are closely watching when or if the Securities and Exchange …
IRS Clarifies Tax Treatment of CHIPS Award Recipients
The IRS specified in a November 26 announcement that the amounts a CHIPS Incentives Program awardee pays or incurs for …
PCAOB Approves 2025 Budget
The Public Company Accounting Oversight Board (PCAOB) on November 21, 2024, voted 4-1 to approve its 2025 budget of $399.7 …
Who Can Make Additional 401(k) Catch-up Contributions Under the SECURE 2.0 Act?
QUESTION: We understand that the SECURE 2.0 Act permits additional catch-up contributions for older participants. Can you explain how these rules …
PCAOB Adopts Auditor Performance Metrics, Increased Firm Reporting Rules
The Public Company Accounting Oversight Board (PCAOB) on November 21, 2024, adopted two separate but related rules intended to increase …
Resolve Improper Employee Retention Credit Claims Now, IRS Says
The IRS is urging businesses to resolve improper Employee Retention Credit (ERC) issues now. The employer deadline for the second …