Regulation and compliance
Regulation
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This may be the last time you see a reminder that the FBAR (Report of Foreign Bank and Financial Accounts) filing deadline of June 30 is fast approaching. Thats because, beginning in 2017, the annual FBAR filing will coincide with the April 15 income tax filing deadline.
June 16 -
Dan Loebs Third Point Reinsurance Ltd. said scrutiny of the industrys offshore tax advantage has lessened after hedge fund manager John Paulson closed a venture that stood out as an outlier for its aggressive use of strategies that were criticized as abuses.
June 16 -
The Internal Revenue Service has released final regulations relating to the exclusion from gross income of discharge of indebtedness income of a grantor trust or an entity that is disregarded as an entity separate from its owner.
June 15 -
The Taxpayer Advocate Service has added a new Employer Shared Responsibility Provision Estimator online tool to help a business determine its potential liability under the Affordable Care Act for the employer mandate.
June 14 -
The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has unveiled a proposed update to its 2004 enterprise risk management framework.
June 14 -
South Korea is considering a bill that would allow regulators to oust the CEO of an accounting firm that is found to be negligent in controlling audit quality.
June 13 -
The Securities and Exchange Commission said Monday it will allow companies to voluntarily file structured financial statement data in a format known as Inline XBRL.
June 13 -
This year, for the first time ever, employers will begin receiving notices from the Federally Facilitated Marketplace indicating that one of their employees signed up for health coverage through the Marketplace and received advanced premium subsidies for that coverage.
June 10 -
Valeant Pharmaceuticals International Inc. just gave conventional financial measures a new prominence in its latest quarterly report. It wasnt pretty.
June 9 -
The Securities and Exchange Commission has barred a former corporate vice president and a former controller for false accounting at an electronics company.
June 9 -
The World Gold Council, a market development organization for the gold industry, has some ideas about developing a common accounting framework for gold that could be used by central banks in countries around the world.
June 8 -
The Internal Revenue Service has ruled that fines issued by the brokerage industrys self-regulatory body, the Financial Industry Regulatory Authority, or FINRA, are not tax deductible.
June 8 -
The Internal Revenue Service has issued final and temporary regulations to curb the use of spinoffs of corporate assets into real estate investment trusts, or REITs, to reduce taxes.
June 8 -
The costs of the finance and accounting function at many companies are expected to climb in the next few years, according to a new survey.
June 7 -
The Consumer Financial Protection Bureau proposed long-awaited rulemaking last week to protect consumers from falling into the trap of ever-spiraling debt for taking out a short-term payday loan.
June 6 -
Oracle Corp. and its top executives were sued by an investor who blames his stock losses on allegations by a former finance executive that the cloud computing giant doctored its quarterly results.
June 6 -
The Federal Accounting Standards Advisory Board is proposing changes in how the federal government accounts for tax expenditures.
June 3 -
New Yorks highest court again rejected a bid by former American International Group Inc. Chairman Maurice Hank Greenberg to dismiss the states decade-old fraud suit against him, clearing a path for a trial.
June 2 -
The XBRL US Data Quality Committee has released an analysis showing big improvements in the quality of filings in Extensible Business Reporting Language format by companies that follow a new set of validation rules.
June 1