Washington –The U.S. Treasury Department and IRS today issued proposed and final regulations relating to two significant international tax provisions of the Tax Cuts and Jobs Act (TCJA): foreign tax credits (FTC) and the base erosion and anti-abuse tax (BEAT). “The Tax Cuts and Jobs Act has made America’s business environment more competitive. Tax cuts have led to […]
Monthly Archives: December 2019
FDIC Releases its Formal and Informal Enforcement Actions Manual
FIL-76-2019 December 2, 2019 FDIC Releases its Formal and Informal Enforcement Actions Manual Printable Format: FIL-76-2019 – PDF (PDF Help) Summary: The FDIC posted its Formal and Informal Enforcement Actions Manual (manual) to its website to provide greater transparency regarding the FDIC’s enforcement program. The manual provides direction for professional staff related to the work […]
Webinar on Revisions to the Consolidated Reports of Condition and Income (Call Report)
FIL-77-2019 December 2, 2019 Webinar on Revisions to the Consolidated Reports of Condition and Income (Call Report) Printable Format: FIL-77-2019 – PDF (PDF Help) Summary: The federal banking agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), will conduct an interagency webinar to discuss revisions to the FFIEC 051 Call Report that […]
Apple celebrates the best apps and games of 2019
Today Apple revealed the best apps and games and the most powerful trends that drove app culture in 2019. Apps help simplify our lives and express our creativity, connect us to friends, family and the world beyond, and of course, have fun. In 2019, apps made their mark by reflecting the zeitgeist of our society […]
Apple announces first ever Apple Music Awards
Introducing the Apple Music Awards, a celebration of the best and boldest musicians of 2019 and the enormous impact they have had on global culture this year. The Apple Music Awards honor achievements in music across five distinct categories and winners are chosen through a process that reflects the service’s editorial perspective, combined with what customers […]
Treasury, IRS issue final regulations on the Foreign Tax Credit
IR-2019-193, December 2, 2019 WASHINGTON — The Internal Revenue Service issued final regulations (PDF) today on the Foreign Tax Credit, a long-standing tax benefit that generally allows individuals and businesses to claim a credit for income taxes paid or accrued to foreign governments. The Tax Cuts and Jobs Act (TCJA) made major changes to the […]
Treasury, IRS issue final regulations on new international provision, the base erosion and anti-abuse tax
IR-2019-194, December 2, 2019 WASHINGTON — The Internal Revenue Service issued final regulations and proposed regulations today on the base erosion and anti-abuse tax. The Tax Cuts and Jobs Act (TCJA) made major changes to the tax law including revamping the U.S. international tax system. Among other changes made by the TCJA, section 59A imposes […]
Regulatory Capital Rule: New Standardized Approach for Calculating the Exposure Amount of Derivative Contracts
FIL-74-2019 December 2, 2019 Regulatory Capital Rule: New Standardized Approach for Calculating the Exposure Amount of Derivative Contracts Printable Format: FIL-74-2019 – PDF (PDF Help) Summary: The federal bank regulatory agencies (the agencies) have jointly issued a final rule that amends the regulatory capital rule (capital rule) to implement a new approach for calculating the […]
National Tax Security Awareness Week begins; IRS and Security Summit partner offer Cyber Monday shopping tips to protect computers, mobile phones
IR-2019-192, December 2, 2019 WASHINGTON — The Internal Revenue Service and the Security Summit partners opened this year’s National Tax Security Awareness Week with a warning for holiday shoppers on Cyber Monday to secure their computers and mobile phones to reduce the threat of identity theft. During the holiday season, criminals take advantage of large […]