The Internal Revenue Service (“IRS”) has released the final revised loss discounting factors just in time for the final countdown toward the extended tax return filing deadlines. Revenue Procedure 2019-30 offers the most in-depth guidance on the loss discounting method change that

The Internal Revenue Service (“IRS”) issued Final Regulations on the unpaid loss and salvage and subrogation discount factors. In November 2018, the IRS released the Proposed Regulations for changes made to loss reserve discount factors under Section 846 due to

More than two years after it began its project, the AICPA Auditing Standards Board (ASB) issued Proposed Statement on Auditing Standards (SAS), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. In January 2015,

Although it intended to simplify and clarify investment disclosures and create more consistent application across entities, the FASB caused some unintended confusion when it issued the following Accounting Standards Updates (ASU): ASU 2015-07 Disclosures for Investments in Certain Entities That

Financial preparers caught a break on Wednesday, July 17, when FASB voted to have staff recommend new effective dates of four accounting standards: leases, credit losses, hedging, and long-duration insurance contracts. This is welcomed news after many recent challenging updates,

On July 1st the President signed H.R. 3151, also known as The Taxpayer First Act (the “Act”), as a means to drag the Internal Revenue Service into the 21st Century through internal reforms aimed at more efficient tax filings. These