PCAOB’s 2024 Budget is Set to Increase 11%
The Public Company Accounting Oversight Board (PCAOB) on November 16, 2023, voted unanimously to approve its 2024 budget of $384.7 …
Proposed Crypto Regs Go Too Far, Industry Reps Tell IRS
At a public rulemaking hearing, the IRS heard reoccurring themes in testimony from tax practitioners and stakeholders from the digital …
Chief Counsel Discusses Trust Structure Marketed as a Tax Shelter
In a Generic Legal Advice Memo (GLAM), Chief Counsel discusses a nongrantor trust structure marketed as a tax shelter. Chief Counsel concluded …
Two IRS Publications Tout Work Opportunity Tax Credit
Two IRS publications recently discussed the benefits of the Work Opportunity Tax Credit (WOTC) for employers (SSA/IRS Reporter, 3rd Quarter …
What Are the Rules for Making 401(k) Plan Matching Contributions on Student Loan Repayments?
QUESTION: We understand that SECURE 2.0 made changes to how plan sponsors can treat repayment of student loans as elective …
New FASB Accounting Rules on Segment Reporting, Income Taxes, Crypto—Coming by Mid-December
The FASB will publish new accounting standards on income taxes and crypto assets in the middle of December, the Board’s …
Auditors Gear Up for Fight as PCAOB Brings Back Critical Audit Matters to Research Agenda
Some of the key players in the auditing profession are already gearing up for a potential standard-setting fight on the …
House, Senate Republicans Introduce Resolutions to Nix SEC Cyber Breach Disclosure Rules
Republicans in the House and Senate have introduced Congressional Review Act (CRA) resolutions to scrap the SEC’s cybersecurity incident disclosure …
Real Estate Tax Experts Talk FIRPTA Withholding Challenges
At a tax conference panel on tax strategies for foreign investments in US real estate, a pair of practitioners shared …
Colorado, Ohio, Texas Voters Decide Tax-Related Ballot Questions
Taxpayers in Colorado, Ohio and Texas voted on tax-related ballot questions on November 7, 2023. The unofficial results, as of …