The Internal Revenue Service and the Treasury Department released guidance Friday to help farmers deal with a provision of the Tax Cuts and Jobs Act and reduce their taxes by leveraging a tax break for small businesses.
The Federal Accounting Standards Advisory Board staff has released a technical bulletin in an effort to clarify the loss allowance standards for accounts receivable and related recognition standards and reporting.
The Governmental Accounting Standards Board is proposing to enhance the disclosures made by state and local governments with their financial statements.
A group of Democrats in the House and Senate has introduced legislation that would require large multinational corporations to provide country-by-country financial reports indicating whether they are using offshore tax havens.
It’s been two years since investors were able to claim tax write-offs for investment costs and advice, but lawyers have found a potential workaround hidden in years-old IRS regulations and case law that may cut tax bills for some private equity and hedge fund investors.