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IASB Issues Amendments to Ease Transition to Global Tax Reform Rules
Taxation
The International Accounting Standards Board (IASB) has issued amendments to IAS 12, Income Taxes, intended to give…
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Supreme Court: IRS Can Secretly Obtain Bank Records of Taxpayer’s Relatives
Taxation
The U.S. Supreme Court has ruled unanimously that the IRS can summon bank information without notifying account holders…
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The New York State Society of Certified Public Accountants Board Procedures
The Trusted Professional
NYSSCPA Board of Directors Standing Rules* SR-1. Establishment of Selections Subcommittee—Each year, on or before August 1,…
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Under New FASB Rule, Companies Are Disclosing Supply Chain Financing Details
Accounting
Companies are now disclosing their supply-chain-finance program details under a rule approved by the Financial Accounting…
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Treasury Asks Federal Agencies to Put Off Payments
The Trusted Professional
The U.S. Department of the Treasury has asked federal agencies about the flexibility of payments due before the end of June,…
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Small Businesses Spooked by the Prospect of a Federal Default
The Trusted Professional
Small businesses are increasingly concerned about the prospect of a federal default, which could result in delayed payments,…
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Senate Bill Would Raise 1099-K Reporting Threshold to $10K for Third-Party Platforms
Taxation
Two U.S. senators have introduced legislation to raise the dollar threshold for required reporting on third-party…
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Regulatory Roundup: May 16-22
Regulatory Roundup
AICPA AICPA Publishes Detailed Plan to Boost Pool of Prospective CPA CandidatesMay 17, 2023 CBO Cost Estimate H.R 3205,…
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CFOs Prepare for Possible Debt Ceiling Default
The Trusted Professional
Chief financial officers are preparing for the possibility of the United States defaulting on its debts, The Wall Street…
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