Featured News
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IRS updates guidance on retirement plan RMDs
The IRS and Treasury have issued final regulations updating the required minimum distribution (RMD) rules.
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IRS enhances security measures for FATCA registration
The IRS recently said it is enhancing the identity authentication process for financial institutions to register under the Foreign Account Tax Compliance Act (FATCA).
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AICPA submits comments on foreign trust reporting regulations
The AICPA recently submitted comments to the IRS and Treasury on proposed regulations regarding reporting transactions with foreign trusts.
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IRS: Beware fake ‘self-employment tax credit’ advice
The IRS has issued a consumer alert following bad advice shared on social media about a nonexistent “self-employment tax credit” that’s misleading taxpayers into filing false claims.
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FASB issues final chapter of Conceptual Framework
The FASB has officially issued the final chapter of its Conceptual Framework, which focuses on measuring items in financial statements.
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IRS issues FAQ about clean fuel production credit
The IRS has issued a new FAQ related to which entities must apply for registration for the clean fuel production credit.
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CFO optimism reaches highest level in 3 years, survey shows
A recent survey of financial chiefs found that 58% of CFOs are optimistic about the U.S. economy — the highest level of optimism since the third quarter of 2021.
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New scam targets clean energy tax credit
The IRS is warning taxpayers not to fall victim to a new emerging scam involving buying clean energy tax credits.
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DOR: Third-party MTA users can close business tax accounts
The Wisconsin Department of Revenue (DOR) has introduced a new feature that enables third-party My Tax Account (MTA) users to request the inactivation of most business tax accounts.
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Financial restatements drop by 50%, CAQ study finds
According to a Center for Audit Quality study, the number of financial restatements filed with the SEC dropped by more than 50% from 2013 to 2022.