April 11, 2019 The IRS recently issued guidance that provides a safe harbor allowing professional sports teams to treat certain player and staff member contracts and draft picks as having a zero value for determining gain or loss to be recognized on the trade of a player or staff member contract or draft pick.
March 27, 2019 As part of its efforts to provide greater security to the employer identification number (EIN) application process, the IRS recently announced that starting May 13 only individual taxpayers with either a Social Security or individual taxpayer identification number will be able to obtain EINs as the "responsible party" on the application.
March 25, 2019 The Financial Accounting Standards Board recently issued a revised proposed Accounting Standards Update intended to improve the relevance of current income tax disclosure requirements to financial statement users.