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Regulatory Roundup: May 23-30
Regulatory Roundup
AICPA New AICPA Chair Looks to Foster Innovation and the Next GenerationMay 24, 2023 AICPA Recognizes Top 2022 CPA Exam…
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Wall Street Makes Contingency Plans For U.S. Default
Trusted Professional
Fearing anything from computer glitches to cascading panic if the United States defaults and misses payments on Treasury…
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IRS to Resume Issuance of Collection Notices
Taxation
Taxpayers and tax preparers should expect a resumption of automated collection notices from the IRS, Accounting Today…
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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
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
Trusted Professional
Small businesses are increasingly concerned about the prospect of a federal default, which could result in delayed payments,…
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