On July 13, 2016, the Securities and Exchange Commission (SEC) issued a proposed rule that would update and simplify the agency’s disclosure requirements. The SEC’s objective is to eliminate redundant, overlapping, outdated, or superseded provisions in light of changes to SEC disclosure requirements, US Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), and technology. In addition, the SEC is seeking comment on certain disclosure requirements that overlap with US GAAP to determine whether to retain, modify, eliminate, or refer the requirem
On August 4, 2016, the Internal Revenue Service (IRS) issued a proposed rule relating to the valuation of interests in corporations and partnerships for estate, gift, and generation-skipping transfer tax purposes and the treatment of lapsing rights and restrictions on liquidation in determining the value of transferred interests under Internal Revenue Code section 2704. The rule would affect how taxpayers estimate the fair market value of assets for estate and gift tax purposes.
APHIS Proposes Amendments to Horse Protection Regulations
On July 21, 2016, the Department of Labor (DOL) issued proposed rules to update the Form 5500 Annual Return/Report.
Payday, Vehicle Title, and Certain High-Cost Installment Loans
Office of Advocacy’s Anniversary Symposium
June 22, 2016
Washington Court Hotel
525 New Jersey Ave N.W.
The National Cybersecurity Center of Excellence (NCCoE) at the National Institute of Standards and Technology (NIST) is seeking input from industry stakeholders on the challenges of identification, authentication, and authorization for devices with the ability to connect to the internet and to send and receive data, including requirements for authentication and authorization of autonomous non-person entities (NPE) found in smart home devices.
On April 18, 2016, the Internal Revenue Service (IRS) issued proposed rules relating to the excise taxes imposed on highway vehicles. The proposed regulations would update the IRS enforcement of the Highway Revenue Act of 1982 by revising the definition of "highway vehicle" and establishing recordkeeping requirements for gross vehicle weight (GVW) and gross combined weight (GCW). Additionally, the proposed regulations provide model certificates to be used to establish tax-free status with respect to certain sales of taxable vehicles and taxable tires.