In this episode of Issues of Interest, Joe Jalbert, banking practice lead, and Adam Aucoin, tax principal, discuss what they are hearing about potential tax changes in Trump’s second presidency. Adam talks about the tax changes during President Trump’s first term before outlining what came up on the campaign trail
Several new accounting pronouncements under Generally Accepted Accounting Principles (GAAP) will take effect for privately held companies in the United States over the next few years. The Financial Accounting Standards Board (FASB) received comments from preparers, readers, and auditors asking for clarification on how to account for transactions where there
Every time we near another presidential election, accountants often are asked about the impact that candidates’ platforms will have on the pocketbooks of our clients, friends, and acquaintances. This article will highlight a number of the presidential tax proposals made by each candidate.
In this episode of "Issues of Interest," Information Systems and Risk Assurance principal Pat Morin joins Pawel Wilczynski to discuss the importance of cybersecurity for banks and financial institutions of all sizes. They address common misconceptions, such as the belief that small businesses are not targets for cybercriminals and that cybersecurity is
I recently attended the 2024 AICPA & CIMA Conference on Banks & Savings Institutions & Credit Unions Conference. Speakers at the conference, which took place September 9 - 11 in Washington, DC, covered the economy, regulatory developments, artificial intelligence (AI), blockchain and other current topics affecting financial institutions as well
The IRS often provides automatic extensions of time to file tax returns for specific areas that are adversely impacted by natural disasters. We updated our readers regarding such extensions impacting the northeastern states in previous articles published in February and April. More recently, the IRS allowed significant deferrals for filers located
Co-authored by Leanne Scott & Lori Paci. The fiscal year 2025 Massachusetts budget calls for a sixty (60) day tax amnesty program – a method by which eligible overdue/unfiled tax returns, as well as certain other pending items, can be filed or resolved without assessment of penalties that otherwise normally