BLS Insights

Category: Accounting

What’s in the Fiscal Responsibility Act?

June 15, 2023

President Biden signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends — as … Continued

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Reminder: Two New Accounting Standard Updates Take Effect

December 28, 2022

As the end of year approaches, we want to remind organizations of two new accounting standard updates that are effective for calendar year 2022. Leases (Topic 842) – ASU 2016-02 … Continued

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New Tax Reporting Requirements for Payment Apps

February 15, 2022

If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square, or PayPal, you could be affected by new tax reporting requirements that take effect … Continued

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