Insights & Resources

The IRS has issued guidance on new sustainable aviation fuel tax credits that take effect on January 1, 2023. The guidance, Notice 2023-06, includes the following:

Companies must now account for cryptocurrency assets using fair value, according to a decision made by the Financial Accounting Standards Board (FASB).

The IRS has issued guidance to taxpayers regarding claiming the alternative fuel tax credits for the first three quarters of 2022.

The Inflation Reduction Act of 2022, includes a number of the renewable energy tax provisions originally contained in the Build Back Better Act.

The demand for guidance on how firms should manage digital assets for accounting purposes continues to grow in tandem with the use and acceptance of crypto assets.

To improve tax compliance, the U.S. Treasury Department proposed four changes to "modernize" the corporate and individual reporting of digital assets.

Senators Kirsten Gillibrand and Cynthia Lummis proposed the Responsible Financial Innovation Act to create a comprehensive regulatory framework for digital assets.

As the SEC considers regulations to strengthen cybersecurity in public companies, concerns about cyberattacks are on the rise. Learn more.

The Fifth Circuit Court of Appeals and the U.S. Court of Federal Claims held that the blends of butane and gasoline would not be eligible for the alternative fuel mixture credit.

On March 24, 2022, the Fifth Circuit Court of Appeals found the federal oil spill tax under IRC Section 4611(b) unconstitutional when imposed on exports of crude oil from the United States.

The growing popularity of virtual currencies and their potential to facilitate tax evasion has prompted the Internal Revenue Service (IRS) and Congress to impose additional reporting requirements on taxpayers who hold or use virtual currencies.

With cryptocurrencies becoming more mainstream, Weaver is consistently asked to decrypt what crypto means for individuals and businesses that want to learn more.