Search Results for "fica"





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FASB Provides LIBOR Transition Relief

Yesterday, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU is intended to provide companies impacted by the expected transition from the London Interbank Offered Rate (LIBOR) with temporary




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Foreign Derived Intangible Income

The Tax Cuts and Jobs Act of 2017 introduced the concept of foreign-derived intangible income (“FDII”), which is intended as an incentive for U.S. corporations to provide goods and services to foreign customers.