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This week in tax: Tax partner takes top London job at Clifford Chance

by usoftax_admin | Dec 22, 2024 | Tax News

Chinwe Odimba-Chapman was announced as Michael Bates’ successor; in other news, a report has found a high level of BEPS compliance among OECD jurisdictions

Banks, Not Credit Cos., Can Duck New Ill. Fee Law For Now

by usoftax_admin | Dec 22, 2024 | Tax News

An Illinois federal judge ruled Friday that credit card companies like Visa and Mastercard must comply with Illinois’ landmark law restricting certain credit card fees; however, she also held that national banks and federal savings associations aren’t...

Extension to BOI reporting deadline removed from budget bill

by usoftax_admin | Dec 20, 2024 | Tax News

Congress did not include a delay to the beneficial ownership information reporting requirement in its government funding bill. The AICPA has been advocating for a delay.

SEC Fines Entergy $12M Over Alleged Accounting Errors

by usoftax_admin | Dec 20, 2024 | Tax News

The U.S. Securities and Exchange Commission on Friday announced a $12 million settlement with Entergy Corp. over claims that the company failed to properly account for what may have been hundreds of millions of dollars in unusable or surplus equipment.

Pact Board Fails To OK Remote Seller Back Sales Tax Plan

by usoftax_admin | Dec 20, 2024 | Tax News

A voluntary disclosure program proposal that would allow remote sellers to limit their back sales tax liabilities in states that participate in the Streamlined Sales and Use Tax Agreement fell one vote shy of receiving approval Friday from the interstate...

Utah Judge Pauses Challenge To Corporate Transparency Act

by usoftax_admin | Dec 20, 2024 | Tax News

A Utah federal judge has stayed a case seeking to block the Corporate Transparency Act to see how the new administration of President-elect Donald Trump handles the law after a kindred case in Texas won a preliminary injunction on it.
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