SEC proposed rule amendments that would require money market funds to
maintain a portion of their portfolios in highly liquid investments,
reduce their exposure to long-term debt and limit their investments to
only the highest quality portfolio securities. The proposals also
would require the monthly reporting of portfolio holdings and allow
the suspension of redemptions if a fund’s net asset value falls below
$1 per share.
The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.
Even as the IRS reported on success in reducing tax return identity theft in the 2016 season, the Service also warned tax professionals about yet another email phishing scam. See how much you know about recent news with this short quiz.