Fenwick & West LLP was sued Wednesday over its alleged role in the collapse of the FTX cryptocurrency exchange.

The Federal Reserve said Wednesday it will buy about $10 billion of Treasury bills this period, a further slowdown of a program meant to ease short-term funding costs by rebuilding reserves in the financial system.

An Ohio man filed a lawsuit against the IRS for disallowing a $130,000 refund stemming from losses he claims resulted from being a victim of a “pig butchering” crypto scam.

Arm Holdings Plc and majority owner SoftBank Group Corp. made an approach to acquire Cerebras Systems Inc., the AI computing firm, weeks before its expected initial public offering, according to people familiar with the matter.

The UK’s parliamentary standards commissioner launched an inquiry into whether Nigel Farage breached the House of Commons Code of Conduct by failing to declare a £5 million ($6.8 million) gift from Christopher Harborne.

SoftBank Group Corp. reported a surge in quarterly profit due to valuation gains on its OpenAI investment, boosting confidence at the Japanese company to bet even more on the ChatGPT maker.

The California Attorney General’s Office announced Wednesday it filed felony charges against an unlicensed cannabis retailer for evading approximately $7.1 million in state sales tax.

The IRS has issued a private letter ruling on Treas. Reg. §301.9100 and I.R.C. §§263A and 446 granting a taxpayer 45 calendar days to file original Forms 3115 for accounting ...

The IRS has issued a private letter ruling on I.R.C. §336 and Treas. Reg. §301.9100 granting S corporation target a 60-day extension to execute the section 336(e) election agreement and ...

The IRS has published a private letter ruling on I.R.C. §163 and Treas. Reg. §1.163 correcting taxpayer’s net capital gain election under section 163(d)(4)(B) where taxpayer’s qualified tax professional inadvertently ...

Denmark’s tax authority likely isn’t barred from suing a group of US investors already found liable for helping a hedge fund trader steal from the country’s treasury in a $2.1 billion fraud scheme, a panel of Second Circuit judges indicated Wednesday.

The IRS has published a private letter ruling on I.R.C. §642 and Treas. Reg. §1.642 confirming that an estate may claim unlimited charitable contribution deductions for gross income amounts paid ...

The Oklahoma Governor signed a law that includes extending the sunset date for the Oklahoma Emission Reduction Technology Rebate Program to July 1, 2029. The law takes effect on Nov. ...

The California Attorney General’s Office announced Wednesday it filed felony charges against an unlicensed cannabis retailer for evading approximately $7.1 million in state sales tax.

The Oklahoma Governor signed a law that includes extending to contractors and subcontractors an existing sales tax exemption for purchases of materials or services needed to perform contracts for governmental ...

The New York State Department of Taxation and Finance published updated local sales and use tax rates on qualified motor fuel, highway diesel motor fuel, and B20 biodiesel, effective June ...

The Kansas Governor signed a law that includes: 1) repealing reference to global intangible low taxed income (GILTI) in the subtraction modification for certain internationally sourced income under I.R.C. Section ...

The Georgia Governor signed a law that includes: 1) reducing the individual income tax rate to 4.99 percent for 2026; 2) increasing the individual income tax personal exemption to $5,000 ...

Investors could glean further details from corporate financial reports about private credit as demand grows for lending by institutions other than banks.

Fenwick & West LLP was sued Wednesday over its alleged role in the collapse of the FTX cryptocurrency exchange.

Accounting rulewriters decided to forgo for now a project tackling corporate financial reporting related to research and development activities like the design and testing of artificial intelligence tools.

The Federal Reserve said Wednesday it will buy about $10 billion of Treasury bills this period, a further slowdown of a program meant to ease short-term funding costs by rebuilding reserves in the financial system.

US oil refiners are sending more jet fuel overseas than at any time in history as airlines around the world struggle to cope with the Strait of Hormuz closure.

The new chair of the US audit board aims to stand up a permanent inspection program for auditors of brokerages by early 2027, he said Wednesday.