CPAs Urge IRS to Retain Full Workforce During Possible Shutdown
The American Institute of CPAs (AICPA) is urging the IRS and Treasury to release a contingency plan that retains 100% …
Administration’s Shift on Cannabis Draws Criticisms From Some Republicans
As President Trump took steps to move cannabis to a less stringent classification under the Controlled Substances Act, several Senate …
House Rules Committee Debates One Big Beautiful Bill
Editor’s note: The House passed the bill the morning of 5/22 by a vote of 215-214. One member voted “present” …
Republicans Celebrate House Passage of DeFi Broker CRA
Biden-era regs classifying some decentralized digital asset entities as brokers subject to IRS reporting rules are one step closer to …
Corporate Transparency Act Won’t Be Enforced Against US Citizens, Domestic Entities
U.S. citizens, domestic entities, and their beneficial owners need not worry about penalties and fines under the Corporate Transparency Act …
Draft Bill Aims to Strengthen Taxpayer Rights
Top Senate taxwriters released draft legislation Thursday that they say would “improve the taxpayer experience” — included are proposals to …
Final IRS Regs Possibly Subject to Congressional Review
The Treasury Department during the Biden administration used its final months to finalize or correct several IRS regs, including guidance …
House Bill Reintroduced to Add FASB Procedural Checks, Require Annual Chair Testimony
A House Republican on December 12, 2023, reintroduced legislation requiring the chair of the FASB to testify annually before two …
IRS Spending Plan Elicits Mixed Reactions From Congress, Policy Groups
Following the release of the much-anticipated spending plan for how the IRS intends to deploy the $80 billion appropriation granted by the …
Retirement Expert: SECURE 2.0’s Impact on RMD Penalty Tax Collection Is TBD
The SECURE 2.0 Act, included in the year-end omnibus bill approved by Congress (Consolidated Appropriations Act, 2023), features 100 retirement provisions that …