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Turning the Corner: FASB Updates Effective Periods Beginning After Dec. 15, 2023

July 15, 2024 As practitioners and clients turn the corner from busy season and begin planning and risk assessment in the coming months, now is a good time for a refresher on recently promulgated updates as well as current Financial Accounting Standards Board (FASB) exposure drafts and projects with exposure drafts expected soon for future planning implications.

Tennessee Property Measure (Schedule G) Refund Claims

July 15, 2024 The 2024 spring tax season proved to be more challenging than Tennessee taxpayers anticipated, with major changes not only lingering at the federal level but on the Tennessee franchise and excise tax return as well.

Attracting Accounting Talent – A Look at Benefit Packages in Tennessee

July 15, 2024 Many CPA firms nationwide are experiencing staffing shortages. Addressing this challenge requires a long-term solution.

TSCPA State Tax Liaison Meeting Summary

July 15, 2024 TSCPA’s State Tax Committee met with representatives from the Tennessee Department of Revenue and the Tennessee Department of Labor & Workforce Development at the State Tax Liaison meeting on June 6.

2024 CPA Firm Tech Report: Expert Guidance on Where To Go Next

July 15, 2024 CPA and professional service firms have embraced technology as a key growth driver and vital component of firm operations.

FASB Issues New and Final Chapter of Its Conceptual Framework: Measurement

July 12, 2024 The Financial Accounting Standards Board (FASB) today issued a new chapter of its Conceptual Framework related to the measurement of items recognized in financial statements.

Annual Sales Tax Holiday Happening July 26-28

July 11, 2024 Save the date and save! The State of Tennessee’s annual sales tax holiday weekend will take place Friday, July 26 through Sunday, July 28.

Treasury and IRS announce final regulations on how to report and pay the corporate stock repurchase excise tax

June 28, 2024 The Department of the Treasury and the Internal Revenue Service today issued final regulations that provide taxpayers and tax professionals with guidance on how to report and pay the 1 percent excise tax owed on corporate stock repurchases.

Treasury, IRS issue final regulations requiring broker reporting of sales and exchanges of digital assets that are subject to tax under current law, additional guidance to provide penalty relief, address information reporting and other technical issues

June 28, 2024 The U.S. Department of the Treasury and the Internal Revenue Service today issued final regulations requiring custodial brokers to report sales and exchanges of digital assets, including cryptocurrency.

FASAB Staff Issues Technical Bulletin 2024-1, Seized and Forfeited Digital Assets

June 21, 2024 The executive director of the Federal Accounting Standards Advisory Board (FASAB), Monica R. Valentine, announced today that FASAB staff has issued Technical Bulletin (TB) 2024-1, Seized and Forfeited Digital Assets.