Searching Content indexed under Financial Services by Grant Thornton LLP ordered by Published Date Descending.
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FinCEN Provides FBAR Relief To Victims Of Hurricanes Harvey And Irma
On Sept. 7 and 12, respectively, FinCEN announced that Hurricane Harvey victims in affected areas of Texas, and Hurricane Irma victims in affected areas of the U.S. Virgin Islands...
United States
5 Oct 2017
Massachusetts Supreme Judicial Court Upholds Constitutionality Of Financial Institution Excise Tax Apportionment Rules
The Massachusetts Supreme Judicial Court has reaffirmed its decision that the state's apportionment of loan income did not violate the internal consistency test of the dormant Commerce Clause of the Constitution.
United States
10 Oct 2016
Wyden Proposes Discussion Draft To Mark-To-Market Derivatives
Senate Finance Committee ranking minority member Ron Wyden, D-Ore., released a discussion draft last week that would reform the tax treatment of derivatives.
United States
6 Jun 2016
New Developments Summary - Accounting For Financial Instruments
The guidance in ASU 2016-01 is effective for "public business entities," as defined, for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years.
United States
31 Mar 2016
Treasury Proposes Revising FBAR Rules For Certain Financial Professionals
If finalized, the proposed regulations ( RIN 1506-AB26) would amend the FBAR regulations by eliminating the current signature authority filing requirement exemptions and adding a simplified and expanded exemption.
United States
30 Mar 2016
FinCEN Extends FBAR Filing Deadline For Some Individuals December 2014
On Dec. 17, the Financial Crimes Enforcement Network (FinCEN) issued Notice 2014-1...
United States
6 Jan 2015
LB&I Issues Directive Regarding Bank Bad Debt Deductions
The Large Business and International division of the IRS recently issued a directive to its examining agents providing guidance for examining bad debt deductions under Section 166.
United States
24 Nov 2014
Is Your Bank On Track To Meet Volcker Conformance Standards?
The banking industry under the Volcker Rule has proven to be inherently complex. Recently, the conformance period has been extended to July 21, 2015
United States
27 Oct 2014
FinCEN Extends FBAR Filing Deadline For Some Individuals
On Dec. 17, the Financial Crimes Enforcement Network issued Notice 2013-1, which extends to June 30, 2015, the deadline for some individuals with signature authority for, but no financial interest in, certain financial accounts, to file Form TD F 90-22.1, the Report of Foreign Bank and Financial Accounts — commonly referred to as the FBAR.
United States
20 Jan 2014
IRS Releases Draft Foreign Financial Institution Agreement For FATCA
The IRS has released a draft agreement for foreign financial institutions entering into an FFI agreement under the Foreign Account Tax Compliance Act.
United States
14 Nov 2013
On The Horizon - February 12, 2013
The FASB has recently issued the Accounting Standards Update 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting reclassifications out of accumulated other comprehensive income.
United States
18 Feb 2013
On the Horizon - January 15, 2013
Special dividends may impact on the accounting for share-based compensation.
United States
22 Jan 2013
On The Horizon For IFRS - January 15, 2013
The IFRS Interpretations Committee has issued the November 2012 IFRIC Update, which summarizes the deliberations during its meeting in London on November 13-14, 2012, and the highlights of the meetings are discussed below.
United States
22 Jan 2013
Final Regulations Regarding FBAR Filing Obligations
In February of 2011, the Financial Crimes Enforcement Network ("FinCEN") issued final regulations ("Final Regulations") amending the Bank Secrecy Act regulations as they relate to the annual obligation to file the Report of Foreign Bank and Financial Accounts.
United States
11 May 2011
Beyond Banks: New Incentive Compensation Rules Reach Entire Industry
Many believe that excessive executive compensation and flawed incentive compensation practices can be at least partially blamed for the imprudent risk-taking that helped spark the economic crisis.
United States
9 May 2011
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