Administration’s Shift on Cannabis Draws Criticisms From Some Republicans
As President Trump took steps to move cannabis to a less stringent classification under the Controlled Substances Act, several Senate …
Senators Push for End to IRS Hiring Freeze Ahead of Filing Season
Lawmakers are calling on Treasury Secretary and acting IRS Commissioner Scott Bessent to ramp up IRS and Taxpayer Advocate Service …
Digital Asset Cost Basis Reporting, Backup Withholding Considerations
Digital asset experts at EY reminded taxpayers of new transaction reporting obligations that will take effect next year and explored …
Texas Provides Guidance on the Conformity of Texas Franchise Tax to the Internal Revenue Code
By Ashleigh M. Paige, Esq., Checkpoint News The Texas Comptroller of Public Accounts has provided guidance on the policy change …
Carbon Capture Credit Safe Harbor Creates 2025 Backup Reporting Method
The Treasury Department and the IRS have released guidance providing a safe harbor for taxpayers claiming the tax credit for …
SEC Officials: We Are Not Done Talking About Non-GAAP Measures
The misuse or misleading use of non-GAAP measures remains a frequent topic of SEC staff comment letters, and commission officials at a …
Know How the OBBBA Will Impact You Long-Term, Tax Pro Advises
Jennifer Acuna, principal in KPMG’s Washington National Tax practice, stressed that proactive planning is essential for navigating the complexities of …
Valuation Missteps in Gifts and Compensation Draw Sharper IRS Scrutiny, Experts Warn
The IRS requires property transferred by gift or to charity to be reported at fair market value (FMV)—generally, “the price …
US GAAP Undergoes ‘Evergreen’ Refresh, Aiming to Simplify Financial Reporting for Businesses
Companies will operate under clearer accounting guidance within the next two years, as the Financial Accounting Standards Board (FASB) on …
11th Circuit Upholds Corporate Transparency Act
In a major reversal, the U.S. Court of Appeals for the 11th Circuit has upheld the constitutionality of the Corporate …