In Unusual Move, PCAOB Member Ho Lambasts Senators Warren, Whitehouse
Public Company Accounting Oversight Board (PCAOB) member Christina Ho has hit back at Democratic Senators Elizabeth Warren and Sheldon Whitehouse …
Final Regs Issued Regarding Withholding on Section 3405 Distributions
The IRS has finalized regs under Code Sec. 3405(a) and Code Sec. 3405(b) to amend income tax withholding rules on certain periodic payments and …
Dems, Health Care Groups Call for Swift Action to Extend Premium Tax Credit Enhancements
Though the enhanced health care Premium Tax Credit doesn’t expire until the end of 2025, an extension is needed much …
TurboTax ‘Breakup’ Ad Draws Ire From Tax Pro Org
A national tax professionals group is unhappy with a new advertising campaign that encourages taxpayers to drop their practitioner in …
SSA Announces Social Security Taxable Wage Base for 2025
SSA Press Release: Social Security Announces 2.5 Percent Benefit Increase for 2025 (Oct. 10, 2024); SSA Fact Sheet: 2025 Social …
Wyden Presses Pfizer to Cooperate With Profit-Shifting Investigation
In the latest development of a three-year investigation into potentially abusive tax strategies used by major players in the pharmaceutical …
KPMG Supports Alternative CPA Paths to Address Accountant Shortage
KPMG LLP has become the first among the Big Four accounting firms to publicly support swapping the extra 30-hour academic …
Tax Orgs Find Draft Dual Consolidated Loss Regs Problematic
Upon the closure of the public comment period for proposed regs addressing issues related to dual consolidated losses (DCL) and rules on …
Roads, Bridges, and Water Systems: GASB Floats Early Views for Infrastructure Asset Reporting
The Governmental Accounting Standards Board (GASB) has unveiled a preliminary proposal to enhance financial reporting for state and local governments, …
The Future of R&D Expensing
With lawmakers setting their tax priorities for 2025, one proposal with bipartisan support is bringing back a provision that allowed …