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The IRS recently announced that it intends to defer again, by one additional year, the applicability dates of 2016 foreign currency final regulations and related 2019 final regs.

The Financial Accounting Standards Board (FASB) initially issued Accounting Standards Update (ASU) No. 2016-02 on Leases (Topic 842) over six years ago in an effort to increase transparency and bring consistency in the treatment of operating and finance leases.

The Inflation Reduction Act of 2022 (the Act), recently signed by the President, includes changes to the Plug-in Electric Vehicle Tax Credit (now known as the Clean Vehicle Credit).

A published software security flaw, glitch, or weakness found in software will likely be exploited by bad actors within a short time after the vulnerability is discovered and announced.

This week, the Senate released draft legislative language on a reconciliation bill apparently agreed to by Senate Majority Leader Chuck Schumer and West Virginia Senator Joe Manchin, whose objections had been one of the main stumbling blocks to prior legislative plans proposed by the Biden administration and other members of Congress.