Members of the American Institute of CPAs called on Treasury and the IRS to issue clarifying guidance on employee compensation deductions following passage of 2021 Covid aid legislation.
In a comment letter, the AICPA asked for clarification of the term “covered employee” under tax code Section 162 and recommended that it include one of the five highest-paid employees of a publicly held company.
A Southwest Florida farmer has reached a plea deal related to his role in a larger federal fraud conspiracy. Mark Frisbie pleaded guilty to one count of making a false statement in a federal crop-i...