FASB proposed minor changes as part of its annual effort to clarify and correct unintended application of its Accounting Standards Codification.
Source: JOA News
Read More here – FASB proposes changes aimed at improving codification
The IRS issued updated rules for substantiating the amount of ordinary and necessary business expenses paid or incurred while traveling away from home using the per-diem rates.
Source: Tax News
Read More here – Per-diem method clarified in light of TCJA changes
The IRS issued updated rules for substantiating the amount of ordinary and necessary business expenses paid or incurred while traveling using the per-diem rates.
Source: JOA News
Read More here – Per-diem method clarified in light of TCJA changes
An Accounting Standards Update makes improvements to certain technical and other aspects of implementing FASB’s new accounting standard for credit losses.
Source: JOA News
Read More here – FASB issues narrow-scope changes to credit losses standard
The California attorney general’s office is seeking feedback on proposed regulations on the California Consumer Privacy Act, which will become the nation’s toughest data privacy law when it goes into effect Jan. 1.
Source: JOA News
Read More here – California proposes guidance for privacy law
The IRS issued final regulations that reconcile the current higher exclusion for the estate and gift tax unified credit amount in effect under the law known as the Tax Cuts and Jobs Act with the lower unified credit, which is scheduled to go into effect in 2026, eliminating a possible future clawback of the higher exclusion amount.
Source: Tax News
Read More here – Final regs. eliminate estate and gift tax clawback
The IRS issued final regulations that reconcile the current higher exclusion for the estate and gift tax unified credit amount in effect under the law known as the Tax Cuts and Jobs Act with the lower unified credit, which is scheduled to go into effect in 2026.
Source: JOA News
Read More here – Final regs. eliminate estate and gift tax clawback
See how much you know about the news or catch up with what has happened with this short quiz.
Source: JOA News
Read More here – News quiz: IRS announces adjustments and limits
The SEC is considering expanding opportunities for nonaccredited investors. That means more investors may be relying on private-equity fund valuations and auditors’ assessments of those valuations.
Source: JOA News
Read More here – Valuation in spotlight as SEC mulls expanding investment opportunities
The IRS updated its rules concerning the use of standard mileage rates and to reflect the current suspension of miscellaneous itemized deductions and moving expense deductions.
Source: Tax News
Read More here – Use of standard mileage rate, other rules are updated for TCJA
