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Welcome to the next edition of Tax Thursday in Three. After last night's vote in the House addressing some small changes to the bill, the bill has officially moved to the Senate.
In today's update, Bergin Fisniku, Director of our National Tax Practice, provides an update on what to expect from the Senate debate and how it may affect the timeline for final passage and signing (*filmed prior to House vote).
The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.
The FFIEC has updated its IT examination guidelines, expanding the Development, Acquisition, and Maintenance (DA&M) booklet and retiring the Cybersecurity Assessment Tool (CAT) by August 31, 2025. Financial institutions must now enhance IT risk management and adopt alternative cybersecurity frameworks like NIST 2.0 and CISA Cybersecurity Performance Goals to stay compliant.
A tentative agreement between the International Longshoremen's Association (ILA) and the US Maritime Alliance (USMX) ended a two-day strike, averting a potential $5 billion economic impact. While supply chain disruptions were minimal, this event underscores the importance of proactive risk management, inventory buffers, and diversified logistics strategies to mitigate future disruptions.
