Tax Updates
GASB issues proposal requiring disclosure of certain governmental risks
GASB issues proposal requiring disclosure of certain governmental risks https://bit.ly/3nDccI9
Read MoreTop 25 firm Cherry Bekaert reveals transformative private equity investment
Top 25 firm Cherry Bekaert reveals transformative private equity investment https://bit.ly/3ycXH2V
Read MoreRegs. proposed for present value of estate deductions
Regs. proposed for present value of estate deductions https://bit.ly/3HVJgVi
Read MoreAICPA publishes Q&A to explain SEC guidance on cryptoassets
AICPA publishes Q&A to explain SEC guidance on cryptoassets https://bit.ly/3ykzKb3
Read MorePCAOB amends auditing standards to strengthen requirements
PCAOB amends auditing standards to strengthen requirements https://bit.ly/3OBIOh7
Read MoreIRA charitable donations: An alternative to taxable required distributions
Are you a charitably minded individual who is also taking distributions from a traditional IRA? You may want to consider the tax advantages of making a cash donation to an IRS-approved charity out of your IRA. When distributions are taken directly out of traditional IRAs, federal income tax of up to 37% in 2022 will…
Read MoreSenators request details on IRS info return destruction
Senators request details on IRS info return destruction https://bit.ly/3a7Mk3SÂ
Read MoreIRS mostly correct on recovery rebate credits, TIGTA says
IRS mostly correct on recovery rebate credits, TIGTA says https://bit.ly/3NAZa9gÂ
Read MoreCongress eyes further retirement savings enhancements
In 2019, the bipartisan Setting Every Community Up for Retirement Enhancement Act (SECURE Act) — the first significant legislation related to retirement savings since 2006 — became law. Now Congress appears ready to build on that law to further increase Americans’ retirement security. The U.S. House of Representatives passed the Securing a Strong Retirement Act…
Read MoreThe IRS again eases Schedules K-2 and K-3 filing requirements for 2021
The IRS has announced additional relief for pass-through entities required to file two new tax forms — Schedules K-2 and K-3 — for the 2021 tax year. Certain domestic partnerships and S corporations won’t be required to file the schedules, which are intended to make it easier for partners and shareholders to find information related to “items…
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