The measure could be used to pay for a modification of the cap on the federal deduction of state and local taxes.

Lawmakers proposed bipartisan legislation in the Senate to allow the Internal Revenue Service to postpone filing deadlines when a state-level disaster declaration is issued, rather than waiting for the federal government.

Boards, shareholders, and auditors alike will want to know CECL’s impact.

The amendments aim to improve the comparability of financial information from companies with investments in equity securities.

It can help firms and clients improve their bottom line, while boosting diversity, team morale and community relations.

House Democrats are considering a two-year repeal as one of their potential paths to undoing the $10,000 cap on the federal deduction for state and local taxes.

The bipartisan infrastructure bill includes requirements for brokers to report their customers’ cryptocurrency gains to the Internal Revenue Service, but exactly what constitutes a broker is stirring controversy.

Lawmakers are seeking to extend the recently expanded tax break through 2025, endorsing a key component of the president’s social safety net plan.

Two senior Democratic senators proposed the tax in an effort to boost investment and reduce what they termed 'tax avoidance.'

The Ways and Means Committee voted to approve 12 weeks of paid family leave and a mandate to enroll employees in retirement accounts.

The stumbling block is scrapping the deduction limit without losing progressives wary of a tax cut that would overwhelmingly benefit the wealthy.

Nonetheless, the party's congressional leaders are determined to forge ahead with the tax and spending plan.

A recent statement on corporate reporting says the global profession needs to start with the 2021 reporting cycle.

Guidance in Notice 2021-53 from the IRS will help employers with the ‘Instructions for Employee’ and other statements.

Senate Democrats are discussing a wider range of tax proposals than President Joe Biden has proposed, including levies on stock buybacks, carbon emissions and executive compensation, as part of a package of measures to help fund a ramping up in social spending.

The service has issued Notice 2021-52 with special per diem rates that take effect Oct. 1, 2021.

U.S. regulators have long said they’re dubious about the green and socially conscious labels that Wall Street applies to $35 trillion in so-called sustainable assets. Now, the watchdogs are hunting for proof that they’re right.

The company settled claims that it engaged in an expense-management scheme that resulted in inflated earnings.

The portal offer a streamlined way to seek loan forgiveness, but accountants are watching for the revenue reduction scores the SBA is using to make determinations.