The Federal Accounting Standards Advisory Board says that, for federal government accounting purposes, seized digital assets aren’t monetary unless they come from a central bank.
Category: NYT Accounting News
New guidance on emergency distributions from retirement plans
Notice 2024-55 from the IRS explains exceptions to the additional tax for certain emergencies, and for victims of domestic abuse.
GRI CEO stepping down
Global Reporting Initiative CEO Eelco van der Enden plans to step down at the end of the year when his three-year contract concludes.
Tax Fraud Blotter: All the trimmings
Card shark; the roof falls in; a dynamic duo; and other highlights of recent tax cases.
IRS will resume paying ERC claims — slowly
The Internal Revenue Service plans to begin slowly paying some of its older claims for the fraud-plagued Employee Retention Credit this summer but is not lifting its moratorium.
CLA Global CEO plans further expansion
Paul English plans to further extend the accounting and advisory firm network to more countries.
Supreme Court upholds US tax on foreign business income
The U.S. Supreme Court upheld a 2017 tax on American-owned businesses’ foreign profits, rejecting an appeal that could have saved companies hundreds of billions of dollars.
Burnout epidemic, a wake-up call for the accounting profession
We’ve been talking about the burnout crisis for decades, but the talk needs to turn into action.
Private equity in M&A looking at revenues, but not just any revenues
A panelist during the Scaling New Heights conference in Orlando said that private equity firms are looking for firms with good revenue, but numbers alone don’t tell the whole story.
Founder Files: Going deeper, not wider
Patrick Camuso’s firm, Camuso CPA, specializes in digital asset investors and Web3 companies.