Survey: American finances sapped by inflation in 2022
Americans reported a sharp decline in their financial well-being last fall as high inflation eroded earnings and savings, according to a new Federal Reserve survey.
Interest rates remain the same for Q3 2023
The IRS has announced that interest rates will remain the same for the third quarter, which begins on Saturday, July 1.
SEC proposals address risk management for clearinghouses
The SEC has proposed rule amendments and a new rule that would require clearinghouses to enhance their risk management and recovery planning.
FASAB seeks feedback on existing standards
The Federal Accounting Standards Advisory Board (FASAB) is seeking public comments as a part of its Reexamination of Existing Standards project.
Initial guidance issued for domestic content bonus credit
The Treasury Department and IRS have issued initial guidance for owners of green energy projects, such as wind, solar and energy storage technologies.
IRS lessens backlog, plans to resume collection notices
In a signal that IRS operations are returning to normal, the deputy commissioner for collection and operations support said the agency plans to resume some collection notices.
AICPA expands plan for addressing CPA pipeline challenges
The AICPA released an expanded plan Thursday, May 18, focused on boosting the profession’s talent pipeline.
IRS plans to test free tax-filing system
The IRS confirmed on Tuesday, May 16, that it is taking steps to begin a pilot program for an IRS-run “Direct File” e-filing system.
IRS increases HSA contribution limits for 2024
The maximum contribution to a health savings account (HSA) and certain related benchmarks will again be sharply higher next year.
Coalition calls attention to new BOI reporting requirements
Several tax organizations have formed a coalition to inform taxpayers and practitioners of the new beneficial ownership information (BOI) reporting requirement.