September 27, 2023
The Financial Crimes Enforcement Network recently issued a Notice of Proposed Rulemaking to extend the deadline for certain reporting companies to file their initial beneficial ownership information reports.
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September 18, 2023
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network recently published a Small Entity Compliance Guide to assist the small business community in complying with the beneficial ownership information reporting rule.
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September 15, 2023
The Corporate Transparency Act (CTA) was enacted Jan. 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti–money laundering rules since the U.S. Patriot Act.
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August 18, 2023
TSCPA has joined the AICPA in advocating for the delay of the effective date of beneficial ownership information reporting requirements.
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July 20, 2023
The Federal Reserve recently announced that its new system for instant payments, the FedNow® Service, is now live.
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May 17, 2023
The IRS recently released Rev. Proc. 2023-23, issued pursuant to Sec. 223(g), announcing that the maximum contribution to a health savings account and certain associated amounts will be higher in 2024.
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January 27, 2023
The American Rescue Plan Act of 2021 reauthorized the Small Business Jobs Act of 2010, which established the second installment of the State Small Business Credit Initiative.
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November 15, 2022
Over a decade ago, the FASB established the Private Company Council to address accounting concerns associated with private companies. The PCC works with the FASB in determining whether accounting alternatives or practical expedients for private companies are needed in the U.S. GAAP. The FASB has issued several Accounting Standards Updates as a result of its joint effort with the PCC.
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November 15, 2022
ESG stands for environmental, social and governance and is often used interchangeably with sustainability, corporate responsibility (CR), corporate social responsibility (CSR), and triple bottom line. Fundamentally, sustainable business practices consider the future effects of business policies and activities.
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October 7, 2022
Employee and candidate demands for a flexible schedule or remote working environment are pushing accounting firms outside of their comfort zone as they try to remain competitive.
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