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The Office of Appeals (“Appeals”) is a unit of the IRS which is separate and independent of the IRS Tax Examination Division (“Examination”) which conducts tax audits.

The Financial Accounting Standards Board (FASB or the Board) recently issued Business Combinations (Topic 805), Accounting Standards Update (ASU) 2017-01, Clarifying the Definition of a Business.

Intangibles — Goodwill and Other (Topic 350), Accounting Standards Update (ASU) 2017-04, Simplifying the Test for Goodwill Impairment was recently issued by the Financial Accounting Standards Board (FASB or the Board).