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ASC 740: FASB proposes new income tax disclosures

ASC 740: FASB proposes new income tax disclosures

On March 15, 2023, the Financial Accounting Standards Board (FASB) released a proposed Accounting Standards Updates (proposed ASU) that includes certain amendments to Income Taxes (Topic 740).
What does SECURE 2.0 mean for small employers?

What does SECURE 2.0 mean for small employers?

SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.
Taking action: What financial institutions can do in the wake of bank failures

Taking action: What financial institutions can do in the wake of bank failures

Financial institutions need to understand what led to the recent failures of Silicon Valley Bank, Signature Bank of New York and Silvergate Bank so they can enhance their organizations’ risk management activities and meet increased regulatory expectations while also maintaining customer confidence.
The great deposit migration and emergency borrowing at the Fed discount window

The great deposit migration and emergency borrowing at the Fed discount window

In the past week alone, the Federal Reserve's loans outstanding to the financial system have ballooned to about $318 billion, up from $15 billion a week ago.
Bank Term Funding Program: Government response to the banking crisis

Bank Term Funding Program: Government response to the banking crisis

The Bank Term Funding Program gives small and midsize banks the chance to shore up their liquidity.
Initial jobless claims spike to highest level since December

Initial jobless claims spike to highest level since December

New claims for jobless benefits last week came in hotter than expected at 211,000, significantly higher than the 190,000 of the previous week.
FASB votes to simplify accounting for common control leases

FASB votes to simplify accounting for common control leases

For common control leases, the FASB is drafting amendments to simplify determining whether a lease exists, the classification of the lease, and accounting for leasehold improvements.
Proposed regulations on using forfeitures in retirement plans

Proposed regulations on using forfeitures in retirement plans

Proposed regulations REG-122286-18, released Feb. 24, provide guidelines for plan administrators to use forfeited amounts in retirement plans.
January’s spending shows a hot economy despite rate hikes

January’s spending shows a hot economy despite rate hikes

The Fed’s key gauge of inflation—the personal consumption expenditures deflator—rose by 0.6% on the month for both the top-line and the core numbers, bringing the year-over-year inflation to 5.4% and 4.7% for the two series, respectively.
What would happen if the government defaults on its debt?

What would happen if the government defaults on its debt?

Policy brinksmanship over lifting the debt ceiling and the threat of default it brings is increasing the cost of doing business and carries far more risk than is commonly acknowledged.
The debt ceiling stand-off: Frequently asked questions

The debt ceiling stand-off: Frequently asked questions

What exactly is the debt ceiling, and other frequently asked questions.
U.S. inventories are growing at twice the rate of sales

U.S. inventories are growing at twice the rate of sales

The surge in inventories raises the risk that firms will be caught with excess supplies just as demand begins to slow down this year.
Required minimum distributions after SECURE 2.0

Required minimum distributions after SECURE 2.0

SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.
Retirement plan changes for long-term, part-time employees

Retirement plan changes for long-term, part-time employees

SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
Retail sales post strong gains in January, though it may not last

Retail sales post strong gains in January, though it may not last

Sales increased by 3.0% on the month and by 2.3% if automobiles are excluded, according to the U.S. Census Bureau.
Rising interest payments, deficits and the debt ceiling crisis

Rising interest payments, deficits and the debt ceiling crisis

The mounting stand-off over raising the federal government’s debt ceiling has put a renewed focus on the rising cost of financing the nation’s debt.