Taxpayers earning income from selling goods or providing services may receive a Form 1099-K, Payment Card and Third-Party Network Transactions, for the first time in early 2023, when the 2022 forms are due. The requirement to file Forms 1099 have... Read More
The Inflation Reduction Act of 2022, enacted in August, increased funding for the IRS by $80 billion through 2031 for enforcement activities, operations support, systems modernization and taxpayer services. The legislative language, Treasury Secretary Janet Yellen and IRS Commissioner Charles... Read More
With 16% of the U.S. adult population buying cryptocurrency and the worldwide market worth more than $3 trillion, the Biden Administration has outlined a comprehensive approach to cryptocurrency regulation. Over the last six months at the President’s direction, federal agencies... Read More
In January 2022, the Office of the National Coordinator for Health Information Technology (ONC) published the Trusted Exchange Framework and Common Agreement (TEFCA). This marked an important milestone in the journey to establish the United States’ first national health information... Read More
The “Clean Vehicle Credit,” an enhanced electric vehicle credit put in place by the Inflation Reduction Act of 2022, eliminates the per manufacturer limit on eligibility and extends the credit to commercial and used vehicles through 2032 (originally set to... Read More
The “No Surprises Act” Congress passed in 2021 to restrict surprise billing for consumers in job-based and individual health plans who get care from out-of-network providers took effect in January 2022. The rules, contained in the Consolidated Appropriations Act of... Read More
Stakeholder environmental, social and governance (ESG) disclosure pressures, expectations and requirements have rapidly increased over the last two decades. According to Carrot & Sticks’ interactive map, instruments exist in more than 80 countries. In addition to the number of global reporting... Read More
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
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
