Treasury Recommends Revoking, Modifying Tax Regulations
The Treasury Department today released a report on regulatory burden in the tax code.
Tax and Accounting
ABA Warns on Employee Benefit Plan Audit Proposal
In a comment letter to the American Institute of CPAs on its proposal to modify audits of Employee Retirement Income...
White House, Congressional Leaders Release Tax Reform Framework
The Trump administration and congressional leaders today released a joint framework for tax reform.
IRS Confirms Delay in Reporting Requirements for FTINs
The IRS yesterday formalized previously announced plans to allow withholding agents more time to meet requirements of obtaining foreign taxpayer...
Economist: Tax Reform Should Tackle Credit Union Tax Exemption
As Congress and the Trump administration continue negotiations over tax reform, they should address the tax-exempt status of the credit...
Agencies Issue Additional FAQs on CECL Implementation
As banks continue preparing to implement the Current Expected Credit Loss model for loan loss accounting, the financial agencies have...
New FASB Standard May Expand Derivative Hedging at Banks of All Sizes
The number of banks using derivatives to manage interest rate risk could increase significantly as a result of a new...
AICPA Extends Comment Period for Proposed Changes to Employee Benefit Plan Audits
The American Institute of CPAs has extended the deadline for comments on proposed changes to auditing standards relating to employee...
In First Step to Simplify Capital Rules, Agencies Pause Basel III Phase-In for Most Banks
The Federal Reserve, FDIC and OCC today issued a proposed rule that would pause the transition to the Basel III...
