IRS issues guidance on health savings account provisions in tax bill
The IRS released guidance on new tax benefits for health savings account participants under a tax package passed by Congress...
Tax and Accounting
Learning from banks’ 2023 borrowing from the Fed
Use of the discount window by banks reaffirms that severe stress in 2023 was limited to a handful of banks.
IRS issues guidance for ‘Trump Accounts’ for children
The IRS and Treasury Department have published guidance and announced plans to issue regulations for “Trump Accounts,” which are a...
Senate-approved IRS reform addresses math, clerical error procedures
The Senate passed legislation requiring the IRS to provide taxpayers with details on notices related to a math or clerical...
IRS strikes funding rule from new tax on stock repurchases
The IRS has removed a controversial rule in a new regulation implementing a 1% excise tax on certain types of...
IRS releases interim guidance on ACRE Act tax benefit
The IRS issued interim guidance for a new tax benefit for lenders serving rural and agricultural communities, which was included...
An end to CECL double-counting gives a tailwind to bank M&A
FASB’s long-anticipated fix to the current expected credit loss standard
FASB guidance ends ‘CECL double count’ on purchased loans
The Financial Accounting Standards Board published an accounting standards update that improves the accounting for purchased loans, according to a...
ABA raises concerns with draft tax form
Several aspects of a draft tax reporting form raise “significant concerns” and could lead to the IRS being inundated with...
IRS makes new reporting requirement for qualified charitable deductions optional for 2025
The IRS has delayed implementation of its new “code Y” reporting requirement on Form 1099-R for qualified charitable distributions made...
