Moore Attorney: Supreme Court ‘Validated’ Income Realization Arguments
In the wake of the Supreme Court’s decision upholding the constitutionality of the one-time mandatory repatriation tax (MRT), an attorney …
XBRL Helps Enforcement Activities – SEC Report
Machine-readable data has enabled the Securities and Exchange Commission’s (SEC) enforcement division to more efficiently analyze individual companies’ disclosures and …
Bipartisan Bill Takes Up Taxpayer Advocate Recommendations to Streamline Filings
Legislation introduced late last week would make three fixes to the Tax Code to streamline the filing process — applying …
IRS Issues FAQs on Educational Assistance Programs and Provides Sample Plan Document
IRS FS-2024-22: Frequently asked questions about educational assistance programs (June 2024), available at https://www.irs.gov/newsroom/frequently-asked-questions-about-educational-assistance-programs Publication 5993: [Sample] Educational Assistance Program …
IRS Official Speaks on Final Digital Asset Regs
An IRS official shared preliminary information on new digital asset tax reporting rules and related guidance Friday afternoon with an audience of …
US Supreme Court Overturns Chevron; Future of Federal and State Tax Guidance in Question
On June 28, 2024, in a pair of companion opinions, the United States Supreme Court overturned Chevron USA Inc. v Natural …
IRS Whistleblower Claims Processing Far Too Slow, Say Practitioners
The IRS’ Whistleblower Office announced record claims numbers and awards in its annual report to Congress — but practitioners say work is …
Supreme Court Sidesteps Broader Questions on SEC Judge Constitutionality in ‘Pointed’ Jarkesy Ruling
The Supreme Court on June 27, 2024, issued a closely watched 6-3 ruling in SEC v. Jarkesy, holding that targets of …
Center for Audit Quality Asks PCAOB to Reduce Burdens on Small Accounting Firms
A task force of the Center for Audit Quality (CAQ) urged the Public Company Accounting Oversight Board (PCAOB) to consider …
Unpacking Universal Savings Accounts
Some groups are calling on Congress to establish a new type of tax-advantaged account — universal savings accounts similar to …