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NEWS

Final regs. govern CFC downward attribution

The IRS issued final regulations on the downward attribution rules of controlled foreign corporations, whose treatment had been changed by the law known as the Tax Cuts and Jobs Act.

FASB proposes expedient for private company franchisors

FASB issued a proposal that would provide a practical expedient for private company franchisors in how they analyze certain activities when determining their performance obligations in a franchise agreement under the board’s new revenue recognition standard.

AICPA urges passage of ‘PPP 2’ legislation

The AICPA issued a news release renewing the organization’s call for the swift passage of legislation to extend and expand the Paycheck Protection Program (PPP).

Treasury report on CECL standard is inconclusive

The coronavirus pandemic and current market conditions prevent a definitive assessment of the impact of the FASB’s new standard on accounting for credit losses, according to a new report released by Treasury.

E-filing problems plague some Sept. 15 tax returns

Some practitioners who attempted to file returns on Sept. 15 ran into technical difficulties that prevented them from e-filing returns by the midnight deadline. The AICPA is talking to the IRS about relief for the problem.

Final regs. govern eligible terminated S corporation rules

The IRS finalized proposed regulations on eligible terminated S corporations, a new provision enacted under the Tax Cuts and Jobs Act that provided favorable treatment for corporations that wished to terminate their S elections.

Returning to work: Prioritizing mental health

As employees are welcomed back to work or back to the office amid the coronavirus pandemic, the most successful employers will help them care for their mental, physical, and emotional well-being.

SEC changes disclosure rules for banks

The SEC announced rule changes that will change the disclosures bank and savings and loan registrants are required to provide investors.

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From The Tax Adviser

April 30, 2026

Current developments in taxation of individuals: Part 2

April 30, 2026

Hedge funds: Tax structuring, planning, and compliance

March 31, 2026

Current developments in taxation of individuals: Part 1

March 31, 2026

Current Developments in Taxation of Individuals: Part 1