- The US Office of Management and Budget recently issued comprehensive grant reform rules, read about the changes and how to comply.
- Newly issued guidance gives transition relief to certain eligible employers.
- The Foreign Account Tax Compliance Act (FATCA) has survived legal challenges, and disclosure is now the law of the land, with tight deadlines for compliance. Foreign financial institutions (FFIs) must register with the IRS and comply with investor due diligence and verification procedures to identify and report on US account holders.
- As banks prepare for their annual valuations, take note of recent trends in the primary and secondary influencers on bank values. The economy and bank values are improving; however, bank income is limited and therefore bank values are suppressed.
- Recent evidence in purchase price allocation under fair value purchase accounting rules reveals more value is being allocated to identified intangible assets and less to unidentified goodwill.
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