GOP Lawmakers Raise Concerns about Tax Reporting Provision
A group of 141 Republican lawmakers led by Rep. Tom Emmer (R-Minn.) today wrote to congressional leaders, Treasury Secretary Janet...
Tax and Accounting
ABA, Trade Groups Back Continuation of Tax Protections for Family Businesses, Farms
The American Bankers Association and a coalition of trade groups yesterday urged the House Ways and Means Committee not to...
As Congress Considers Action on IRS Reporting Proposal, Bankers Urged to Take Action
With Congress expected to begin considering a new tax reporting requirement that would require banks to report information on account...
ABA: Proposed IRS Reporting Change Could Undermine Financial Inclusion Efforts
In a letter to House and Senate lawmakers overseeing the Internal Revenue Service, ABA reiterated its opposition to proposed new...
Treasury Expands Paid Leave Tax Credit for COVID-19 Vaccinations
To encourage more Americans to get vaccinated against COVID-19, the Treasury Department today announced that it will allow certain eligible...
FASB to Reconsider TDR, Purchased Loan Accounting Under CECL
The Financial Accounting Standards Board today voted to add two projects to its technical agenda based on feedback it received...
Online Child Tax Credit Tool Available in Spanish
The Internal Revenue Service released a Spanish-language version of its online tool that helps users determine whether they qualify for...
OECD Tax Allocation Framework Excludes Regulated Financial Services
As part of global efforts to acknowledge the large and growing role of digital activities in the economy, the Organization...
Fed: CECL Tool for Community Banks to Launch July 15
The Federal Reserve today said it plans to launch a new tool, the Scaled CECL Allowance for Losses Estimator, or...
IRS: Child Tax Credit Recipients Now Able to Submit Direct Deposit Information
Families eligible to receive the expanded child tax credit payments now have the ability to update their bank account information...
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