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IRS Issues Final and Proposed Regulations on RMDs
Taxation
The IRS announced its release of final regulations updating the rules for required minimum distributions (RMDs) from…
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Major Tech Outage Affects Financial Firms, Along with Other Businesses
The Trusted Professional
The global technology outage that began early Friday has affected banks and other financial firms, along with airlines,…
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Survey: CFOs Report Highest Level of Optimism About Economy Since 2021
The Trusted Professional
A recent survey by Grant Thornton, the Q2 2024 CFO survey, revealed that 58 percent of chief financial officers are…
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Firms Report on Who Their ‘Humans in the Loop’ Are When Using Generative AI
The Trusted Professional
The phrase “humans in the loop” refers to “the need for human interaction, intervention, and judgment to control or…
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IRS Warns of Scam Promoting Non-Existent ‘Self-Employment Tax Credit’
Taxation
The IRS has issued an alert about bad advice circulating on social media about a non-existent “Self Employment Tax…
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TIGTA: IRS Needs to Strengthen Its Digital Asset Enforcement Efforts
Taxation
In a recent report, the Treasury Inspector General for Tax Administration (TIGTA) found that while the IRS’s Criminal…
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FASB Issues Final Chapter of Its Conceptual Framework, Focusing on Measurement
Accounting
The Financial Accounting Standards Board announced last week that it issued a new chapter of its Conceptual Framework…
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IRS Warns of New and Evolving Scams Targeting Tax Professionals
Taxation
The IRS has renewed a warning to tax professionals about new and continuing schemes through which scammers seek to steal…
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Regulatory Roundup: July 8-15
Regulatory Roundup
CBO ReportCBO’s Recent Publications and Work in Progress as of June 30, 2024July 12, 2024In this report, the latest in a…
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