Trump pick for SEC faces conflict-of-interest scrutiny
Paul Atkins deflected questions on whether the Public Company Accounting Oversight Board should be scrapped, saying it was up to Congress.
IRS criminal investigators crack down on COVID and ERC fraud
The Internal Revenue Service’s Criminal Investigation unit launched 2,039 tax and money laundering cases related to COVID fraud over the past five years.
Taxpayers want Direct File, but relatively few have used it
The Internal Revenue Service’s Direct File program is attracting interest this tax season, but lack of familiarity and budget cuts at the IRS may doom it.
Treasury publishes rule narrowing BOI reporting
The Treasury Department limited the scope of the Corporate Transparency Act’s beneficial ownership reporting requirement to foreign companies.
CFA Institute calls for better disclosures of intangible assets
The CFA Institute is urging accounting standard-setters to require more detailed disclosures of intangible assets before they’re recognized on the balance sheet.
AICPA, CalCPA want more clarity on California climate rules
The CPA organizations sent a joint comment letter to the California Air Resources Board asking for changes in the state’s climate risk disclosure rules.
In the blogs: Seamwork
Welcome to Tax Court; the subscription model; new blog on the block; and other highlights from our favorite tax bloggers.
PCAOB sanctions partner for audit failures
The Public Company Accounting Oversight Board sanctioned and imposed a $40,000 fine on James Pai CPA and its partner for audit failures.
AICPA weighs in on proposed SECURE 2.0 regs
The institute is asking the Treasury and the Internal Revenue Service for greater clarity in their proposed regulations for the SECURE 2.0 Act of 2022.
Dalio warns GOP of ‘dire’ debt as lawmakers weigh tax cuts
House and Senate Republicans are battling over the size of spending cuts to be paired with a giant tax cut coming later this year.