Inside The Republicans Battle To Roll Back New Tax Disclosure Rules
News Source : Forbes
News Summary
- Starting in 2025, corporations will undergo a seismic shift in the tax information they disclose to the public.
- Under Accounting Standards Update 2023-09, corporations must now provide enhanced tax information in their annual financial statements.
- While this increased tax disclosure is music to the ears of many investors and external stakeholders, it has recently met a roadblock from House Republicans.
- These actions by the legislative branch are not the first time that they have attempted to exert influence on the FASB and financial accounting rules.
gettyStarting in 2025, corporations will undergo a seismic shift in the tax information they disclose to the public. Under Accounting Standards Update 202309, corporations must now provide enhance [+7006 chars]
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