Saturday, January 20, 2024

After two failed attempts, a bipartisan effort is being made to remedy the issues caused by US tax law Section 174, which forces amortization of software labor (Kia Kokalitcheva/Axios)

Kia Kokalitcheva / Axios:
After two failed attempts, a bipartisan effort is being made to remedy the issues caused by US tax law Section 174, which forces amortization of software labor  —  The Tax Cuts and Jobs Act of 2017 is impacting some startups' tax bills, thanks to a provision that changes how R&D costs are deducted.



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UK accountancy regulator FRC says auditors can't blame AI for audit failures, after it published what it called the world's first guidance on auditor AI usage (Ellesheva Kissin/Financial Times)

Ellesheva Kissin / Financial Times : UK accountancy regulator FRC says auditors can't blame AI for audit failures, after it published...