ABA expressed support for a proposed bill to create a tax credit for investments in community development financial institutions and minority depository institutions
Browsing: Tax and Accounting
A group of 20 trade associations, including ABA, joined together to raise concerns with a proposal to expand the requirements for auditors to identify, evaluate and communicate all company violations of laws and regulations.
The International Auditing and Assurance Standards Board has announced a proposed international standard on sustainability assurance
ABA last week offered feedback to the Internal Revenue Service on proposed regulations regarding the application of the transfer for valuable consideration rules and associated information reporting requirements for reportable policy sales.
The IRS unveiled a strategic operating plan to guide a proposed transformation of the agency over the next 10 years.
The Financial Accounting Standards Board this week issued an accounting update expanding the range of tax credit structures for which the proportional amortization method of accounting may be applied—something ABA had called on the board to address.
The proposal as currently outlined doesn’t go far enough to consider current and future technical opportunities and risks, ABA says.
Rep. Patrick McHenry (R-N.C.) and Sen. Cynthia Lummis (R-Wyo.) this week asked the banking agencies for clarification regarding an April 2022 staff accounting bulletin issued by the Securities and Exchange Commission.
The Treasury Department issued initial guidance regarding a new annual excise tax that applies to repurchases of a publicly traded corporation’s stock that takes place after Dec. 31, 2022.
The new plan outlines the goals that the organization will address during the next several years.