IRS Sets April 18 as Tax Deadline for 2023
The IRS recently announced that the deadline to file and pay federal income taxes or request an automatic six-month extension will be Tuesday, April 18, 2023.
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High School Students Explore Career Opportunities in Discover Accounting Program
TSCPA’s high school outreach initiative, the Discover Accounting Program, is coming to college campuses around Tennessee this fall for the first time since 2019.
View MoreIRS Offers New Process for Anonymous Reporting of Employee Retention Credit Mills
The IRS recently revealed it is offering a new way to submit anonymous reports regarding third-party vendors promoting improper claims for the employee retention credit that was implemented in response to the COVID-19 pandemic.
View MoreSEC Proposes New Oversight Requirements for Certain Services Outsourced by Investment Advisers
The SEC recently proposed a new rule and rule amendments under the Investment Advisers Act of 1940 to prohibit registered investment advisers from outsourcing certain services and functions without conducting due diligence and monitoring of the service providers.
View MoreSEC Adopts Two Rules, Including “Clawback” Rule
The SEC recently adopted two rules, including a “clawback” rule intended to ensure publicly traded companies recover incentive-based compensation erroneously awarded to executives. The second adopted rule requires more transparency of mutual fund information shared with investors.
View MoreIRS Pilots Program To Improve Practitioner Priority Service® Line
The IRS has launched a pilot program utilizing speech recognition on its Practitioner Priority Service® (PPS) phone line.
View MoreIRS Issues 2023 Retirement Account Inflation Adjustments
The IRS recently announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022.
View MoreFASB Takes Step Toward Fair Value Accounting of Cryptoassets
As part of its ongoing work on the disclosure of cryptoassets, FASB has tentatively decided to use fair value to measure certain cryptoassets in financial reporting.
View MoreIRS Announces Inflation Adjustments for Tax Year 2023
The IRS recently released Revenue Procedure 2022-38, announcing the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes.
View MoreSocial Security Wage Base, COLA Set for 2023
The Social Security Administration recently announced that individual taxable earnings of up to $160,200 annually will be subject to the old age, survivors and disability insurance tax in 2023.
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