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IFRS amendments to accounting for deferred tax

IFRS amendments to accounting for deferred tax

The IASB has issued amendments that will result in companies recognizing deferred tax on leases and decommissioning obligations.
Industrial companies are at high risk of a cyberattack

Industrial companies are at high risk of a cyberattack

The Colonial Pipeline ransomware attack has proven the industrials sector is at high risk for cyberattacks.
FASB proposes to expand hedge accounting

FASB proposes to expand hedge accounting

A recent proposed ASU presents a portfolio layer method to allow multiple layers of a single closed portfolio to be hedged.
New IRS guidance on health FSAs and dependent care assistance programs

New IRS guidance on health FSAs and dependent care assistance programs

IRS provides guidance on dependent care assistance program enhancements made due to COVID-19-related legislation.
DOL withdraws Trump-era FLSA employee classification rule

DOL withdraws Trump-era FLSA employee classification rule

White House closes the door on DOL classification of gig workers as independent contractors; reinstalls prior multi-factor test.
IRS issues guidance for changing CFC depreciation methods

IRS issues guidance for changing CFC depreciation methods

IRS issues procedures for certain foreign corporations to implement required or optional ADS depreciation changes.
As income tax rates increase, beware of certain deferral strategies

As income tax rates increase, beware of certain deferral strategies

Tax-deferral techniques—possibly spurred by a potential increase to capital gains rates—must be scrutinized, as evidenced by this IRS memo
Are higher costs hampering corporate profits?

Are higher costs hampering corporate profits?

Investors are watching earnings to gauge the extent to which corporate profits are being impacted by supply chain issues and more.
Georgia continues trend of SALT deduction workarounds in 2021

Georgia continues trend of SALT deduction workarounds in 2021

Georgia becomes the latest state to adopt an entity-level tax establishing a workaround to the federal SALT deduction limitation.
Frequently asked questions about restricted stock

Frequently asked questions about restricted stock

What is restricted stock and how does it affect taxes for employers and employees? Find out more about this executive compensation option.
SPACs: Auditor and audit committee considerations

SPACs: Auditor and audit committee considerations

A recent CAQ Alert addresses auditor and audit committee considerations related to SPAC initial public offerings and mergers.
IRS releases CCAs discussing determinants of micro-captive insurance

IRS releases CCAs discussing determinants of micro-captive insurance

Redacted CCAs analyze five factors to determine whether a micro-captive insurance transaction is a reportable transaction.
Washington state enacts capital gains tax

Washington state enacts capital gains tax

New capital gains tax to be imposed at 7% on net gains of individuals in excess of $250,000 beginning Jan. 1, 2022.
First-quarter GDP: Growth improves as the recovery accelerates

First-quarter GDP: Growth improves as the recovery accelerates

It's essential that the fiscal and monetary authorities follow through on current policy paths for the economy to return to full employment.
Biden tax plan significantly limits like-kind exchange

Biden tax plan significantly limits like-kind exchange

Proposals include a $500,000 cap on gain deferral for like-kind exchanges and eliminating stepped-up basis with a $1 million exemption.