In Unusual Request, Center for Audit Quality Asks PCAOB to Delay Sending Revised Standards to SEC for Approval
In an unusual request, the Center for Audit Quality (CAQ) asked the Public Company Accounting Oversight Board (PCAOB) to delay …
NTA Collins: Let Taxpayers Challenge International Information Return Penalties
National Taxpayer Advocate (NTA) Erin Collins wrote in a May 21 blog post that taxpayers should be able to bring challenges to …
Disclosure Rules for Income Statement Expenses Might Come Late Summer, FASB Chair Says
Disclosure rules that will reveal certain types of expenses that analysts say are too obscure in income statements might be …
House Passes Disaster Tax Relief Bill
Though the broad bipartisan tax bill remains stalled, the House overwhelmingly passed a portion of that package aimed at aiding …
Data Breach at RI Health Care Center Was Avoidable, Class Action Says
By John Fitzgerald A Rhode Island health care center did not use reasonable security procedures to protect the sensitive personal …
DOL Revises Abandoned Plan Program, Extends Program Eligibility to Chapter 7 Bankruptcy Trustees
Interim Final Rule: Abandoned Plan Regulations, 29 CFR Parts 2520, 2550, and 2578, 89 Fed. Reg. 43636 (May 17, 2024); …
CBO, JCT Asked About Impacts of Making Health Insurance Premium Tax Credit Permanent
Ways and Means Committee Chair Jason Smith (R-MO) and House Budget Committee Chair Jodey Arrington (R-TX) have asked analysts how …
SEC Chief Accountant Munter Suggests Clawback Policies for Senior Leaders at Accounting Firms to Promote Trust, Audit Quality
Securities and Exchange Commission (SEC) Chief Accountant Paul Munter said audit firms must set proper tone at the top followed …
Dems Call for Expansion of Direct File
Over 130 Democrats urged Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel to make the tax e-filing pilot program, …
Colorado Includes Temporary Income Tax and Sales/Use Tax Rate Reductions in Revised TABOR Refund Mechanisms
By Margaret Eisler On May 14, 2024, Colorado Governor Jared Polis approved legislation that revises Taxpayer’s Bill of Rights (TABOR) refund mechanisms, …