AICPA and NASBA Approve Revisions to CPE Standards
The AICPA and NASBA recently announced they have approved revisions to The Statement on Standards for Continuing Professional Education (CPE) Programs.
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IRS Launches Employee Retention Credit Voluntary Disclosure Program
As part of an ongoing initiative aimed at combating dubious Employee Retention Credit claims, the IRS recently launched a new Voluntary Disclosure Program to help businesses who want to pay back the money they received after filing ERC claims in error.
View MoreIRS Announces Penalty Relief, Resumption of Collection Notices
The IRS recently announced new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pandemic.
View MoreFASB Releases 2024 GAAP Taxonomy
The Financial Accounting Standards Board recently announced the availability of the 2024 GAAP Financial Reporting Taxonomy and the 2024 SEC Reporting Taxonomy (collectively referred to as the “GAAP Taxonomy”).
View MoreFASB Issues Standard on Income Tax Disclosures
The Financial Accounting Standards Board recently issued an Accounting Standards Update that addresses requests for improved income tax disclosures from investors, lenders, creditors and other allocators of capital that use the financial statements to make capital allocation decisions.
View MoreIRS Issues Standard Mileage Rates for 2024
The IRS recently issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
View MoreTSCPA Supports Bill to Delay BOI Reporting Requirements
On Tuesday, Dec. 12, the U.S. House passed H.R. 5119, providing the one-year delay, now, the Senate must take up this bill by Dec. 31.
View MorePresident Approves Major Disaster Declaration for Tennessee
FEMA announced that federal disaster assistance has been made available to the state of Tennessee to supplement recovery efforts in the areas affected by severe storms and tornadoes on Dec. 9, 2023.
View MoreFASAB Issues Statement 62, Transitional Amendment to SFFAS 54
The Federal Accounting Standards Advisory Board recently announced it has issued Statement of Federal Financial Accounting Standards 62: Transitional Amendment to SFFAS 54.
View MoreFinCEN Extends Beneficial Ownership Information Reports Deadline for Certain Companies
The Financial Crimes Enforcement Network recently issued a final rule that extends the deadline for certain reporting companies to file their initial beneficial ownership information reports with FinCEN.
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