A group of 202 House Republican lawmakers, led by Rep. Tom Emmer (R-Minn.), wrote to Treasury Secretary Janet Yellen today urging the administration and Democratic lawmakers to abandon a controversial proposal that would require financial institutions to report information on gross inflows and outflows to the Internal Revenue Service for all accounts above a certain de minimis threshold.
In a recent report, the PCAOB noted ongoing deficiencies in the auditing of loan losses and an increase over 2019 in deficiencies, specifically on the related internal controls auditing.
In a letter to Treasury Secretary Janet Yellen today, Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) called for more details on the updated information reporting proposal that was announced yesterday.
The Biden administration today endorsed raising the de minimis threshold for its controversial IRS reporting proposal from $600 to $10,000.
Rep. Stephanie Murphy (D-Fla.) today said that proposed requirements for banks to report information on gross inflows and outflows for all accounts above a $600 de minimis level “give me pause,” given the potentially burdensome effects on small community banks.
The IRS reporting proposal is not the way to address the tax gap. Most Americans agree, and as more of them learn the details, we expect that number will grow.
The American Bankers Association today joined a broad coalition of business trade groups in a letter to House and Senate leaders urging them to reject a Biden administration proposal to require financial institutions to report information about gross inflows and outflows of all accounts above a de minimis threshold of $600.
The Financial Stability Board-sponsored Task Force on Climate-related Financial Disclosure issued an update to its 2017 recommendations of disclosure of climate-related financial information.
Citizens Bank of Edmond CEO Jill Castilla talks about the effects the Biden administration’s controversial proposal for a financial account reporting regime would have on a bank like hers.
As the SEC considers comments from its recent request for information on climate change disclosures, the Office of Corporation Finance has published a model comment letter consisting of comments that recently have been sent to various SEC registrants related to climate change.