House Ways and Means Releases Partial Tax Bill Text
On Friday, May 9, the Ways and Means Committee shared partial text for the tax portion of a reconciliation bill …
Thomson Reuters Tax & Accounting
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Treasury Seeks Pause in Corporate Transparency Act Case
After dialing back the Corporate Transparency Act’s beneficial ownership information reporting requirements last month, the Treasury Department is now moving …
2025 Tax Filing Season Kicks Off
The 2025 tax filing season opened on January 27, with the IRS expecting over 140 million individual tax year 2024 …
Final Regs Allow Certain Co-Owned Elective Pay Entities to Opt Out of Partnership Treatment
The IRS finalized regs providing guidance on how clean energy projects with multiple owners can elect to not be treated …
Key 2025 Figures Calculated by Thomson Reuters Checkpoint Based on Inflation Data Now Available
Many tax, expensing, and penalty figures are adjusted annually for cost-of-living increases. These adjustments reflect the average chained Consumer Price …
IRS Withdraws, Reproposes Foreign Currency Gain, Loss Regs
The IRS has released new proposed regulations on making and revoking certain foreign currency gain or loss elections. These new …
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California Provides Tax Relief for Los Angeles County Due to January 2025 Palisades Fire
By Saleem A. Shareef California Governor Gavin Newsom has announced that the California Franchise Tax Board (FTB) and the California …
FASB Unveils Ambitious Agenda for Second Half of Year
The FASB has outlined a packed agenda for the second half of the year, with plans to issue two new …
DOL Clarifies That Its Cybersecurity Guidance Applies to All Employee Benefit Plans
DOL Compliance Assistance Release No. 2024-01 Available at https://www.dol.gov/agencies/ebsa/key-topics/retirement-benefits/cybersecurity/compliance-assistance-release-2024-01 The DOL’s Employee Benefits Security Administration (EBSA) has updated 2021 cybersecurity …