The Governmental Accounting Standards Board issued
Technical Bulletin no. 2006-1 to clarify how state and local
government entities should report payments received from the federal
government under the retiree drug subsidy provisions of Medicare Part
D. The bulletin (product no. GTB0601) can be ordered at
http://gasbpubs.stores.yahoo.net/gtb0601.html . With certain
exceptions, it took effect June 30, 2006.
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FEATURE
Tackling TCJA changes this tax seasonReturn preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.