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...
Tax and Accounting
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...
IRS Provides Yearlong Extension to Relief from Physical Presence Requirement
Last week, the IRS extended through June 30, 2022, its temporary relief from the physical presence requirement for spousal consents...
CECL’s First Wave Offers Insights for Smaller Banks
Many banks have until January 1, 2023 before they must implement the current expected credit loss standard, or CECL. But...
ABA, Trade Groups Warn Against Changes to Section 199A Tax Deduction
The American Bankers Association and a broad coalition of trade associations today urged congressional leaders to oppose any efforts to...
IRS Adds Online Tools to Manage Child Tax Credit Payments
The Internal Revenue Service released two new online tools to help manage monthly Child Tax Credit payments, which were authorized...
Eliminating TDR Accounting: Finally a Carrot for Adopting CECL?
By Josh Stein ABA’s position that troubled debt restructurings are outdated and unnecessary is gaining steam, demonstrated by the recent...
IRS Unveils Online Tool for Non-Filers to Facilitate Monthly Child Tax Credit
The Internal Revenue Service has created a new online tool for families that are normally not required to file an...
ABA Calls for Expanded Safe Harbor for SEC Climate Disclosures, Flexibility for Community Banks
The American Bankers Association urged the Securities and Exchange Commission today to provide a wide safe harbor for information and...
