FASB accounting rules delay in the works

Recently, the Financial Accounting Standards Board (FASB) voted to issue a proposal that would delay several landmark accounting rules for certain companies. If finalized, the deferral would apply to new guidance for reporting leases, hedging transactions, credit losses and long-term…

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IL Manufacturing Sales Tax Exemption

Illinois sales tax law has changed and now expands the manufacturing machinery and equipment exemption to include production-related, tangible personal property purchased on or after July 1, 2019. Consequently, this sales tax law change will have a large impact on…

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