News

GASB Proposes Guidance on Public-Private and Public-Public Partnership Arrangements
 

GASB Proposes Guidance on Public-Private and Public-Public Partnership Arrangements

Posted: June 17, 2019
The Exposure Draft provides proposed guidance for PPP arrangements that are outside of the scope of its existing literature for these transactions. The proposed Statement also would make certain improvements to the guidance currently included in Statement 60 and provide accounting and financial reporting guidance for APAs.

IRS, Treasury Issue GILTI Regs
 

IRS, Treasury Issue GILTI Regs

Posted: June 17, 2019
The Treasury Department and the IRS have issued final and proposed regulations concerning global intangible low-taxed income under section 951A, the foreign tax credit, the treatment of domestic partnerships for purposes of determining the subpart F income of a partner and the treatment of income of a controlled foreign corporation subject to a high rate of foreign tax under section 951A.


IRS Issues Final Regs on Charitable Contributions and SALT Credits
 

IRS Issues Final Regs on Charitable Contributions and SALT Credits

Posted: June 11, 2019
The U.S. Department of the Treasury and the IRS have issued final regulations that require taxpayers to reduce their charitable contribution deductions by the amount of any state or local tax credits they receive or expect to receive in return.

AICPA to Oversee New Internet Domain for CPAs
 

AICPA to Oversee New Internet Domain for CPAs

Posted: June 10, 2019
The American Institute of CPAs is in the process of being awarded the .cpa domain, which will provide a defined global domain for CPAs worldwide to connect with their clients with increased trust, security and verification.



New Jersey Amends Data Breach Law
 

New Jersey Amends Data Breach Law

Posted: June 3, 2019
On May 10, Governor Murphy signed a bill into law that expands the definition of “personal information” under the state data breach statute and addresses electronic notification in the event that a data breach involves a username or password. The law is effective Sept. 1, 2019.

IRS, Treasury Unveil Proposed W-4 Design for 2020
 

IRS, Treasury Unveil Proposed W-4 Design for 2020

Posted: May 31, 2019
​The IRS has issued a draft of the 2020 Form W-4, Employee's Withholding Allowance Certificate, that will make accurate withholding easier for employees starting next year.