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After Hurricane Milton Devastates Florida, IRS Offers Tax Relief to the Entire State
Taxation
In the aftermath of Hurricane Milton, the IRS announced on Oct. 11 tax relief for individuals and businesses in 51 counties…
Read More
Regulatory Roundup: October 8-14
Regulatory Roundup
AICPA Keynote speakers announced for AICPA & CIMA ENGAGE CFO Strategy & Innovation Summit 2024October 13, 2024 CBO…
Read More
IRS 2022 Tax Gap Projections Increase From Previous Years
The Trusted Professional
The IRS published the tax gap projections for 2022 on Oct. 10. They show the country’s projected gross tax gap at $696…
Read More
GASB Requests Input on Infrastructure Asset Proposals
Auditing
The Governmental Accounting Standards Board (GASB) is soliciting comments on proposals about accounting and financial…
Read More
AI Is Both a Blessing and a Risk in Audit, Surveys Say
Auditing
Two recent survey reports examined the relationship between artificial intelligence (AI) and the audit function. The…
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Auditors Scramble to Assess the Deluge of PCAOB Rule Changes
Taxation
Bloomberg Tax reported that US auditors are trying to assess a series of rule changes in the next couple of years that will…
Read More
Agencies Publish Guidance on Long-Term, Part-Time Employees in 403(b) Plans
Taxation
On Oct. 3, the IRS and Treasury Department issued Notice 2024-73 on long-term, part-time employees in 403(b) retirement…
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TIGTA Says IRS Still Needs to Review $42 Billion in ERC Claims Despite Its Best Efforts
Taxation
The IRS changed its policy for prerefund examinations to expedite the processing of employee retention credit (ERC) claims.…
Read More
Final Regulations Identify Abusive Syndicated Conservation Easement Transactions
Taxation
The Treasury Department and the IRS released final regulations on Sept. 7 identifying certain syndicated conservation…
Read More
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