News

The FAQs from Treasury’s Financial Crimes Enforcement Network said access to beneficial ownership information will be phased in, beginning this spring with a pilot program for some federal agency users and concluding in spring 2025, when financial institutions with customer due-diligence requirements will be able [...]

More than one-third of CFOs are very optimistic about the economy, according to a quarterly survey by Grant Thornton, and most finance leaders project growth in net profits over the next 12 months. Read More

In light of the continuing challenges taxpayers are facing with the corporate alternative minimum tax, the IRS granted a waiver of the addition to tax for failure to pay estimated corporate AMT “in the interest of sound tax administration.” Read More

Proposed regulations could challenge small RIAs in particular to maintain compliance, according to an AICPA comment letter. The letter recommends that FinCEN reconsider how it determines who must report. Read More

IRS commissioner Danny Werfel told the Senate Finance Committee that a tax bill passed by the House in January would help the IRS combat fraud in employee retention credit claims. Read More

Research reveals that four years removed from the beginning of the pandemic, the majority of the largest companies in America feature a structured hybrid model. The most popular model? Three days per week in the office. Read More

In light of the continuing challenges taxpayers are facing with the corporate alternative minimum tax, the IRS granted a waiver of the addition to tax for failure to pay estimated corporate AMT “in the interest of sound tax administration.” Read More

Large-company CEOs in a KPMG survey are confident in the U.S. economy despite multiple risks. Also, the CEOs seem to be changing their thinking about a permanent return to in-office work, with more envisioning a hybrid model. Read More

CPAL: The win-win of effective well-being initiatives: 5 steps for leaders Happy employees are productive employees, but simply offering well-being programs won’t get the job done. The key to success? A companywide commitment that delivers real results in the eyes of current and potential employees. [...]

The IRS winds up its annual list of 12 scams and schemes by covering two broad categories: bogus tax-avoidance strategies and schemes with an international element. Read More

Two sets of proposed regulations issued by the IRS provide guidance on the implementation of the new excise tax and on rules for the procedure and administration applicable to the reporting and payment of the tax. Read More

The proposals, open for public comment through June 7, cover 11 firm and engagement metrics as well as new annual and special reporting requirements in five key areas. Read More