TIGTA: IRS Has Mixed Success With Enforcement of ‘Ghost Employers’
The IRS’ criminal investigation processes for identifying and examining a certain group of noncompliant employers are currently more effective than …
Senate Stablecoin Bill Would Override SEC Crypto Accounting Bulletin
A bipartisan stablecoin framework rolled out on April 17, 2024, by Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) would …
Senate Report: Scam Victims Harmed by Casualty, Theft Loss Deduction Change
The Senate Special Committee on Aging published a report with its findings from an investigation into how the elimination of …
IRS FAQs Address Tax Treatment of Work-Life Referral Services
IRS FS-2024-13: Frequently asked questions about work-life referral services (Apr. 2024) Available at https://www.irs.gov/newsroom/frequently-asked-questions-about-work-life-referral-services The IRS has released guidance on …
Senators Question IRS Commissioner on Spending, Budget
The Senate Finance Committee heard from IRS Commissioner Danny Werfel about how the agency spent $80 billion in funding this …
FASB to Re-Expose Proposal on Interim Disclosure Rules for Public Comment
The FASB on April 10, 2024, voted to issue a second proposal for interim disclosure rules, provisions companies would use …
IRS 2024 Tax Filing Season; Expands Services on Phones, In-Person and Online
The IRS highlighted a variety of improvements that expanded service for millions of taxpayers during the 2024 filing season. (IR …
New Jersey Based Firm Permitted to Use Market Sourcing Prior to Change in Law
By David Engel The New Jersey Tax Court has ruled that facts and circumstances permitted a firm to use market …
Despite Passing Tax Bill, House Dems, Reps Disagree on Path Forward
While the bipartisan tax bill awaits action in the Senate, two House committees held hearings last week debating the merits …
US Audit Regulator Imposes Record Penalty on KPMG Netherlands for Exam Cheating by Hundreds of Professionals
The US Public Company Accounting Oversight Board (PCAOB) on April 10, 2024, said it fined KPMG Netherlands a record $25 …