Reviewing Proposed ASUs as We Begin 2025
In line with the timeline in its evolving technical agenda, FASB has recently completed the proposal of several Accounting Standards Updates (ASUs).
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Tennessee Society of CPAs Hosts Day on the Hill
On Tuesday, Feb. 18, TSCPA hosted members from across the state at the Capitol for the society’s annual Day on the Hill event.
View MoreMaking Retirement Secure: Tennessee’s Use of the Saver’s Tax Credit and How the SECURE 2.0 Act Can Increase Its Utilization
Insufficient retirement savings is a dilemma facing a significant portion of American families, particularly lower- and middle-income families.
View MoreIRS Issues Lower Passenger Auto Depreciation Limitations
The IRS recently released Rev. Proc. 2025-16, issuing lower depreciation limitations for passenger automobiles.
View MoreBOI reporting deadline extension passes US House
A bill to extend the deadline for an estimated 32 million small businesses to report their beneficial ownership information (BOI) as mandated by the Corporate Transparency Act (CTA) passed the U.S. House unanimously.
View MoreBridging the Gap: New CPA Licensure Legislation To Address the CPA Shortage
TSCPA has stayed at the forefront of the national discussions related to talent shortages and the factors contributing to the decreasing number of accounting professionals across the U.S.
View MoreFinCEN hints at BOI reporting changes in court filing
The Financial Crimes Enforcement Network (FinCEN) will consider changes to the beneficial ownership information (BOI) requirements if a court grants the government request for a stay of a nationwide injunction in a Texas case, according to a motion filed Wednesday.
View MoreBOI Reporting Remains on Hold
In light of a recent federal court order, the Financial Crimes Enforcement Network (FinCEN) has clarified that companies covered by the Corporate Transparency Act's (CTA's) beneficial ownership information (BOI) reporting requirement are not currently required to file BOI reports with FinCEN.
View MoreTreasury, IRS request comments on proposed regulations and a draft form for certain corporate separations and reorganizations
The Department of the Treasury and the Internal Revenue Service today issued proposed regulations for corporate separations and reorganizations, including reporting requirements for multi-year corporate separations.
View MoreIRS announces Jan. 27 start to 2025 tax filing season; agency continues historic improvements to expand, enhance tools and filing options to help taxpayers
The Internal Revenue Service today announced that the nation’s 2025 tax season will start on Monday, Jan. 27, 2025, and will feature expanded and enhanced tools to help taxpayers as a result of the agency’s historic modernization efforts.
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