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Emma Slack-Jorgensen
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Regulatory Roundup - October 25-31
Regulatory Roundup
AICPA AICPA Encouraged by IRS Warning of ERC MillsOct. 23, 2022 CBO ReportAutomatic Stabilizers in the Federal Budget: 2022…
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IRS Hires 4,000 Customer Service Agents for Tax Season
The Trusted Professional
The Internal Revenue Service is moving to address one of its longstanding shortcomings by hiring 4,000 customer service…
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Wages and Benefits Keep Rising, Adding to Inflationary Pressures
The Trusted Professional
The latest Employment Cost Index for September is out, and the numbers show that wages and benefits are rising, causing more…
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CFPB Targets Junk Fees by Banks
The Trusted Professional
The Consumer Financial Protection Bureau (CFPB) is taking aim at so-called “junk fees” that banks charge, costing…
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SEC Adopts Clawback Rule
The Trusted Professional
The Securities and Exchange Commission (SEC) voted, 3-2, to adopt a long-delayed rule that would require publicly traded…
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GDP Rises in Third Quarter, but Recession Concerns Persist
The Trusted Professional
The U.S. gross domestic product (GDP) rose by 0.6 percent in the third quarter of 2022 for an annual growth rate of 2.6…
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IRS Introduces Pilot Program to Foil Line-Cutting Services
Taxation
The IRS has introduced a pilot program aimed at enabling practitioners to get through to its professional support line by…
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As Effective Date Approaches, Companies Seek More Guidance on Corporate Minimum Tax
Taxation
With a new corporate minimum tax due to take effect on Jan. 1, U.S. companies affected by it are seeking additional guidance…
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GASB Establishes New Task Force on Going-Concern Considerations
Accounting
The Governmental Accounting Standards Board (GASB) has appointed a new task force to assist with its project addressing…
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