End in sight? Key tax provisions expiring in 2025
'Banks need to explain the role they play supporting small business.'
Tax and Accounting
SEC adopts revised standards on auditor responsibilities, use of technology
The SEC adopted revised standards regarding the general responsibilities of auditors and the use of technology-assisted analysis in conducting audits.
IRS, tax industry announce joint effort to combat tax scams
The IRS, state tax agencies and tax industry representatives have announced a new joint effort to combat the growth in...
ABA, associations challenge new Illinois law restricting interchange fees
ABA, the Illinois Bankers Association and two credit union associations filed a complaint in U.S. District Court challenging an Illinois...
OCC releases annual update to Bank Accounting Advisory Series
The OCC released its annual update to the Bank Accounting Advisory Series, which contains staff answers to questions from the...
IRS finalizes rule on proposed required minimum distributions
The IRS finalized its proposed rule on required minimum distributions, including requirements for distributions from a qualified retirement plan—such as...
ABA, associations: Uphold congressional vote to overturn SEC treatment of crypto custody assets
ABA and three financial sector associations expressed support for a House attempt to overturn President Biden’s veto of a resolution...
NCUA eyeing executive compensation reporting for federal credit unions
The National Credit Union Administration may propose a new rule to require federal credit unions to provide information on executive...
IRS releases regulations in multiple areas
Topics include reporting and payment of the excise tax on repurchases of corporate stock, payment of tax by credit or...
Report: Time to rethink tax exemption for credit unions
There is no longer a justification to exempt credit unions from taxes, which would generate billions in taxes if it...
