FASB tweaks financial instruments standards

The Financial Accounting Standards Board released an accounting standards update Thursday to clarify three of its recent standards for credit losses, hedging, and recognition and measurement of financial instruments.

Wall Street nears a big win in the latest revamp of Volcker Rule

The latest effort to overhaul the post-financial crisis rule would replace the proposed “accounting prong” for determining which kinds of trades are prohibited.

Google wins again in French court fight over $1B tax bill

A second court rejected claims the search-engine giant abused loopholes to avoid paying its fair share.

Booker’s tax returns show he got stung by SALT deduction cap

The Democratic presidential candidate and New Jersey senator released 10 years of tax returns, showing he faced a new cap on deductions of state and local taxes.

Scooters showing up in business expense reports

More business travelers are using scooters to get around town, and the rentable scooter trend is starting to show up in corporate expense reports.

Americans’ financial satisfaction reaches record high, thanks to stock market, says AICPA

A rebound in the stock market in the first quarter of 2019 enabled the index to rebound to an all-new high.

Corporate tax pros turn to AI and bots to comply with Tax Cuts and Jobs Act

Nearly three-quarters (74 percent) of corporate tax professionals are dedicating extra time and technology resources, including artificial intelligence and bots, to help their companies comply with the Tax Cuts and Jobs Act, according to a new survey by Ernst & Young.

Rainmaker shifts alliance focus, disbands int’l association

The training and consulting company will close Enterprise Worldwide.

Be careful with retirement provisions in partnership agreements

When partners retire, maintaining client relationships and providing clear expectations are important building blocks for a firm’s sustained success.

Supreme Court backs businesses, curbs class arbitration in tax fraud case

An ideologically divided U.S. Supreme Court gave businesses more power to channel disputes into individual arbitration proceedings, siding with a lighting retailer trying to prevent its employees from pressing group claims stemming from a phishing attack.