ABA Unveils 2017 ‘Blueprint for Growth’
As the 115th Congress gears up to address tax reform, regulatory relief and other legislative action, ABA today released its...
Tax and Accounting
ABA: Five-Year CECL Capital Transition Needed
Citing potential high volatility in credit loss allowances under the CECL accounting standard, ABA recently called on the Basel Committee...
IRS Issues Guidance for Information Reporting De Minimis Rule
The IRS yesterday issued guidance on the safe harbor from penalties for tax filers making de minimis errors when filing...
IRS Issues Guidance on Tax Treatment of TLAC Debt
The Internal Revenue Service has issued a revenue procedure that provides guidance on the tax treatment of certain internal debt...
Federal Regulatory Agencies Issue CECL FAQs
The federal regulatory agencies today published an FAQ document on the Financial Accounting Standards Board's Current Expected Credit Loss standard...
ABA Comments on IRS Rule Limiting Valuation Discounts
ABA today commented on a proposal by the IRS that would limit valuation discounts of family interests in certain family...
IRS to Issue Guidance on Modified Loan Interest Ambiguity
The IRS has informed ABA that it will conduct a formal process to issue guidance on whether and how to...
ABA Wins Delay on Proposed IRS Security Protocol
Following advocacy efforts by ABA and other financial and housing trade associations, the IRS today announced that it would postpone...
Treasury Issues Controversial ‘Interest Stripping’ Final Rule
In response to comments from ABA and other groups, banks yesterday scored a win when the Treasury Department issued a...
Basel Proposes Interim Retention Treatment of Loss Provisions
With new expected credit loss approaches coming on line soon, the Basel Committee on Banking Supervision today issued a document...
