The sweeping changes the Trump administration hopes to make to individual taxes will likely be a long time coming, Bank of America Merrill Lynch’s municipal research strategy team led by Philip Fischer writes in a report.
The Tax Court has denied a claimed charitable deduction of $33,019,000 by RERI Holdings, whose principal investor is Miami Dolphins owner Stephen Ross.
The Financial Accounting Standards Board has released an accounting standard update aimed at simplifying the accounting for financial instruments that have so-called “down round” features.
The White House is “absolutely committed” to getting its tax overhaul proposal through Congress by the end of the year—and that plan won’t include a 40 percent tax rate for the richest Americans, Treasury Secretary Steven Mnuchin said.
The American Institute of CPAs has unveiled an exposure draft of a new framework to help CPAs and other financial professionals perform valuations of financial instruments such as derivatives, along with their underlying components.
