News Updates

The future of the filibuster, a tactic used to stall or kill bills, will be discussed at a public hearing scheduled for Monday on a variety of proposed legislative rules changes. Several state senators, including Speaker John Arch and State Sen. Steve Erdman of Bayard, who chairs the Legislature's Rules Committee, praised the proposals for offering a range of choices from minor tweaks to wholesale changes.

The Treasury Inspector General for Tax Administration said in its annual report that the total revenue was about $790 billion more than in FY 2021!

While the benefit of equity compensation packages is easy to understand, the same cannot be said of the tax implications, and this article provides a broad overview of them.

Retirees will see a cost-of-living adjustment in their Social Security checks this month, but there are other factors that may influence their benefit income, like Medicare Part B premiums.

Congress got next to nothing done during the past year and could accomplish even less in 2024 as attention shifts to the November elections. House Republican and Senate Democratic leaders reached agreement on bills and resolutions they sent to the President’s desk just 34 times during the first year of the 118th Congress — making that session the least productive in decades.

IRS instructions say that all corporations must file Form 4626, unless they fall under one of four exclusions, to determine whether they are an applicable corporation, and, if so, to calculate the tax.

Auditors providing assurance services to not-for-profit entities implementing the new leases standard will benefit from these tips and insights.

Senators returned to the State Capitol Jan. 3 to begin the second session of the 108th Nebraska Legislature.

Wednesday marks the start of the 2024 session of the Nebraska Legislature, a 60-day session that several lawmakers said they hope is less acrimonious than last year’s filibuster-fest. Here are some things to watch in the session, based on discussions with senators and lobbyists.

Gov. Jim Pillen, in his quest to reduce local property taxes, has loaded up a self-described “bold and courageous” proposal to decrease property taxes via an increase in state sales taxes.

The new comprehensive digital booklet provides students and CPA candidates with the latest guidance on the CPA Exam and licensure requirements, career pathways, study options, and in-depth information they need to start their journey toward becoming a CPA.

The AICPA and NASBA approved revisions to The Statement on Standards for Continuing Professional Education Programs and the NASBA Fields of Study document. Journal of Accountancy.

FinCEN’s director said key changes from the proposed rule involve the scope of financial institution access to beneficial ownership information; limitations on offshore access to BOI; and streamlining procedures for state, local, and tribal law enforcement to gain access to BOI.

The IRS announced the launch of a program that will allow businesses to repay money from questionable employee retention credit claims and avoid penalties and interest.

Here is the first Legislative Update for the 108th Legislature, Second Session, from our lobbyists at Radcliffe, Gilbertson & Brady. Enjoy!

As states propose changes to CPA licensure requirements, the AICPA is providing crucial mobility guidance for CPAs and firms. Read the overview to understand the issue and review the checklist to see how to continue practicing successfully and remaining in compliance should changes take effect.

The service is sending 20,000 disallowance letters, with more action and a voluntary disclosure program coming.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. Taxpayers can use the standard mileage rate but generally must opt to use it in the first year the car is available for business use. Then, in later years, they can choose either the standard mileage rate or actual expenses. Leased vehicles must use the standard mileage rate method for the entire lease period (including renewals) if the standard mileage rate is chosen.

This much-anticipated and often-controversial listing identifies the thought leaders, change-makers, regulators and other leaders who are shaping the profession, and the issues that they face as they chart the future of accounting.

With ongoing inflation, high interest rates and volatility continuing to impact the market, it isn’t hard to see why Americans are increasingly concerned about outliving their nest egg. As a result, many are rethinking their retirement. But money doesn't tell the whole story.