Effective December 28, 2019, the Taxpayer First Act limits use of tax return information to only those purposes expressly authorized/consented to by the taxpayer. Specifically, the Act amended 26 U.S.C.A. ...
The Internal Revenue Service (IRS) and the Department of Treasury have proposed updates to the life expectancy and distribution period tables that are used to calculate required minimum distributions. Both ...
The IRS issued Notice 2019-59 announcing the 2020 cost-of-living adjustments (COLAs) applicable to dollar limitations for employer-sponsored retirement plans, including individual retirement arrangements (IRAs). The annual contribution limit remains at ...
In the 2015 Home Mortgage Disclosure Act (“HMDA”) Rule, the Bureau established an institution and transaction threshold which dictates whether institutions must report certain information under HMDA. The 2015 Rule ...
Fannie Mae and Freddie Mac (GSE’s) announced on Wednesday October 23rd, that they published a static version of the redesigned revised Uniform Residential Loan Application, and expect to release a ...
CCPA Amendments The California Governor has signed the five amendments to the California Consumer Privacy Act ("CCPA") that are applicable to financial institutions. A summary of the amendments can be ...
The Secure And Fair Enforcement Banking Act of 2019 (SAFE Banking Act) has passed the House and proceeds to the Senate. The SAFE Banking Act intends to increase public safety ...
On October 10 2019, the CFPB announced a final rule extending the current temporary threshold for collecting and report data related to open-end lines of credit, and incorporating the clarifications ...
The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (the “Agencies”) adopted a final rule related to ...
Last week, the U.S Senate voted to approve legislation extending the National Flood Insurance Program. The Program, set to expire September 30th, will be extended through November 21, 2019. This ...