The Department of the Treasury and the Internal Revenue Service today issued proposed regulations and temporary regulations that provide guidance for consolidated groups regarding net operating losses (NOLs). The Tax Cuts and Jobs Act (TCJA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) amended the rules for NOLs. After amendment, the NOL deduction is the sum […]
Five federal regulatory agencies Thursday finalized a rule modifying the Volcker rule’s prohibition on banking entities investing in or sponsoring hedge funds or private equity funds—known as covered funds. The final rule is broadly similar to the proposed rule from January. The Volcker rule generally prohibits banking entities from engaging in proprietary trading and from […]
We’re joined by Brad Muniz of SobelCo to talk about tax returns, office etiquette and all-you-can-eat buffets as we struggle to name successful movies about accounting.