The Inflation Reduction Act of 2022 (H.R. 5376, the “IR Act”) contains numerous incentives and support for energy transition efforts in the United States. This includes expanding on the predominately-public funding mechanisms for infrastructure projects set forth in the Bipartisan... Read More
SSAE No. 20 and 21 are now in effect, and new AICPA SOC 1® and SOC 2® guidance is on the horizon. Let’s take a look back to look forward at what these changes mean for both service auditors and... Read More
Join Missy Munoz and host Chris Green for an exciting update on ESG! The Convergence of Financial and ESG Reporting Stakeholders are increasingly demanding environmental, social & governance (ESG) disclosures. Understanding the current state and evolution of voluntary and regulatory... Read More
A major tax, climate change and healthcare bill passed the Senate in a rare Sunday session on August 7 on a strict party line. The Inflation Reduction Act of 2022 won approval on a 51-50 vote, with all Democrats voting... Read More
In a rare bipartisan move, Congress has passed legislation to boost the US semiconductor manufacturing industry; the legislation includes an advanced investment credit for producing semiconductors and the tooling equipment required in their manufacture. The CHIPs and Sciences Act of... Read More
“The family-owned furniture makers, tool and die shops, clothing boutiques — they shouldn’t be forced into spending big on sales tax consultants and software,” said Sen. Ron Wyden (D-OR), opening up a Senate Finance Committee hearing on the fallout from... Read More
A provision of the 2021 bipartisan Infrastructure Investment and Jobs Act, P.L. 117-58, is being challenged in court by crypto company Coin Center as “unconstitutional financial surveillance.” In addition to requiring broker reporting, the law requires both businesses and individuals... Read More
The IRS has increased the standard mileage rate for deducting business use of an automobile to 62.5 cents for the last six months of 2022, 4 cents more than the January—June 2022 rate of 58.5 cents per mile. The new... Read More
The CEOs of the top four US automakers wrote a letter to Congressional leaders asking to delay the phaseout of the electric vehicle (EV) credit. The letter, sent by GM CEO Mary Barra, Toyota CEO Ted Ogawa, Ford CEO Jim... Read More
Less aggressive regulation and favorable tax changes are two hallmarks of the long-awaited cryptocurrency legislation recently unveiled on Capitol Hill. Senators Cynthia Lummis, R-WY., and Kirsten Gillibrand, D-NY, introduced S. 4356, the Responsible Financial Innovation Act, on June 7, right before... Read More
