American Institute of Certified Public Accountants Offers Comments to Treasury, IRS on Foreign Bank Account Report Guidance

The American Institute of Certified Public Accountants May 17 unveiled comments on requirements for taxpayers required to file the Report of Foreign Bank Account (FBAR) …

IRS Provides Guidance on Determining Eligibility for Small Firm Health Care Credit

The Internal Revenue Service May 17 provided comprehensive guidance (Notice 2010-44) on a small-employer tax credit included in recently enacted health care reform legislation…

House Ways and Means Chair Levin Unveils Amendment to Stop Banks from Impeding U.S. Tax Enforcement Efforts

Sen. Carl Levin (D-Mich.) May 11 introduced an amendment to the Senate financial regulatory reform bill (S. 3217) that would provide the Treasury Department broad new authority to impose financial sanctions against jurisdictions…

Banking, Credit Union, Retail Groups Prepare for Long, Intense Battle over Interchange Fees

While banking and credit union industry associations greeted with dismay the unexpected May 13 Senate passage of limits on interchange fees on debit card purchases, and retail organizations greeted the news with elation…

Federal Reserve Board Successful Against Efforts to Remove Oversight Powers, Allow Routine GAO Audits

The Federal Reserve Board emerged from a busy week of Senate action on financial regulatory reform (S. 3217) with its banking oversight powers and independence from outside audits largely in tact.

Senate Democrats to Quicken Pace on Financial Reform Bill, Move to End Debate

With dozens of amendments awaiting consideration, the Senate is expected to pick up the pace on financial regulatory reform (S. 3217) and could move to cut off debate…

FCC Seeks Comment on Proposal to Certify Telecom, Internet Service Provider Data Security

The Federal Communications Commission May 11 published a notice of inquiry seeking comment on whether the agency should establish a voluntary market incentives-driven…

Court Gives Preliminary Approval to Heartland Breach Consumer Class Action Settlement

A settlement agreement to end some seventeen consumer class actions related to a massive payment card data breach by Heartland Payment Systems Inc. was preliminarily approved by…

BNA INSIGHTS: Contracting for Cloud Computing Services: Privacy and Data Security Considerations

Nearly every day, businesses are entering into arrangements to save the enterprise what appear to be significant sums on information technology infrastructure by placing corporate data “in the cloud.” Win-win, right? Not so fast…

GAO Recommends Easing Tax Compliance Requirements for Nonresident Aliens

The federal government could get a better hold on tax compliance for nonresident aliens working in the United States by easing some of its requirements, raising the exemption threshold on U.S.-earned income…

Next Page »