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What Tax Practitioners Need to Know About the Proposed Amendments to Circular 230
Federal Taxation
On Dec. 20, 2024, the Treasury Department and the IRS released proposed regulations (REG-116610-20) to update Circular 230,…
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FASB Solicits Input on Proposal to Improve Accounting for Debt Exchanges
The Trusted Professional
FASB on April 30 published a proposed Accounting Standards Update (ASU) that would give accounting guidance for debt…
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Regulatory Roundup: April 22-28
Regulatory Roundup
AICPA AICPA Finds Some Americans are Making Financial Changes and Delaying Major Purchases Based on Feelings about their…
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House Committee Publishes Proposal to Eliminate the PCAOB
The Trusted Professional
The proposal of Republican lawmakers in the U.S. House of Representatives to eliminate the Public Company Accounting…
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Survey: Long Hours Are Not Exactly Why Professionals Are Leaving Accounting
NextGen
Accountants continue to exit the profession, but it's not for reasons that are commonly believed, according to data from…
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IAASB Solicits Feedback on Proposed Changes to Audit Standards Related to Working With Experts
The Trusted Professional
The International Auditing and Assurance Standards Board (IAASB) has started a public consultation on narrow-scope…
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New York Lawmakers Attempt to Revive State Tax on Stock Sales
The Trusted Professional
With the specter of significant slashes in federal funding for New York state, there is now a renewed push to revive its tax…
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Twelve States Are Suing to Halt Trump-Imposed Tariffs
The Trusted Professional
Twelve U.S. states filed a lawsuit on April 23 challenging the legality of the Trump administration's broad tariff agenda.…
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KPMG Further Integrates AI Agents Into Its Audit Platform Clara
The Trusted Professional
KPMG has said that it is accelerating its initiatives to integrate artificial intelligence (AI) into KPMG Clara, which is…
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