ABA, Lawmakers Criticize Revised IRS Reporting Proposal
The Biden administration today endorsed raising the de minimis threshold for its controversial IRS reporting proposal from $600 to $10,000.
Tax and Accounting
Florida Lawmakers Express Concerns over IRS Tax Reporting Proposal
Rep. Stephanie Murphy (D-Fla.) today said that proposed requirements for banks to report information on gross inflows and outflows for...
Letting the IRS Into Your Bank Account: Separating Fact from Fiction
The IRS reporting proposal is not the way to address the tax gap. Most Americans agree, and as more of...
Broad Coalition of Business Trade Groups Pan Tax Reporting Proposal
The American Bankers Association today joined a broad coalition of business trade groups in a letter to House and Senate...
Task Force on Climate-Related Financial Disclosures Issues 2021 Status Report
The Financial Stability Board-sponsored Task Force on Climate-related Financial Disclosure issued an update to its 2017 recommendations of disclosure of...
Podcast: How the IRS Reporting Proposal Would Affect Banks and Customers
Citizens Bank of Edmond CEO Jill Castilla talks about the effects the Biden administration's controversial proposal for a financial account...
SEC Signals Reflect Administration’s Climate Change Concerns
As the SEC considers comments from its recent request for information on climate change disclosures, the Office of Corporation Finance...
ABA Comments on FASB’s Technical Agenda
ABA submitted a comment letter in which it called on FASB to both prioritize their projects on troubled debt restructurings...
Congress Debates Significant Tax Changes
As part of its budgetary process known as “reconciliation,” the House of Representatives has outlined a series of income tax...
Key Takeaways From the 2021 AICPA National Conference
This year's AICPA annual conference brought together key players in the bank accounting space, including banking agencies and banks and...
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