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The Supreme Court has agreed to review a case involving an 1868 law that imposed taxes on distilled spirits while also banning home distilleries that produce whisky, bourbon and other spirits. The case, Department of Justice v. McNutt, involves whether the prohibition…
The International Sustainability Standards Board issued a set of proposals Thursday on nature-related disclosures in conjunction with a United Nations climate change conference. The exposure draft, IFRS Sustainability Disclosure Practice Statement 1, Nature-related Disclosures, will help companies provide material information about…
Just as there is a diverse range of municipal issuers in our market, there is a diverse range of firms that could potentially be providing unregistered advice to these issuers. They fall into very different categories, and understanding those distinctions…
The Financial Accounting Standards Board issued a proposed accounting standards update Thursday to clarify when payments made on behalf of a customer, or to a customer of an entity's customer, should be accounted for as consideration payable to a customer…
The call usually comes on a weekday afternoon. Your client is rattled. There's a business card wedged in the front door, or a voicemail from someone who used the words "Revenue Officer," or a Form 9297 with a date circled at…
A trio of companies have announced what they say is the first live pilot to enable AI agents to initiate and complete approved buyer invoice payments end-to-end through supplier portals without the need for human authentication. The success of this…
Nidec Corp. founder Shigenobu Nagamori created a corporate culture that led to losses being improperly deferred and inaccurately reflected in earnings, according to a board committee report detailing how the electric-motor manufacturer became embroiled in financial turmoil. Nagamori and other…
The Trump administration is waiving recordkeeping requirements in a bid to encourage farmers, truck-stop operators and other companies to buy tax-exempt red diesel. The move, part of President Donald Trump's effort to combat high diesel costs by expanding sales of…
Thomson Reuters announced the latest version of its CoCounsel for Tax, Audit, and Accounting AI platform, which sports enhanced agentic capacities to write and run its own computer code to execute complex, multi-step workflows for professionals. It also has native…