Featured Accounting News

In a letter to the tax agency, the AICPA urged the IRS to expand the First Time Abatement program to include more tax and information return penalties.

The IRS issued the 2026 depreciation limitations for passenger vehicles, including those subject to bonus depreciation.

The IRS proposed regulations that would make it easier for digital asset brokers to provide 1099-DA statements to customers electronically.

CPA business leaders reported higher optimism about the U.S. economy during the first quarter of 2026 in the latest AICPA and CIMA Economic Outlook Survey.

The Federal Reserve’s most recent Beige Book report found that the U.S. economy continues to grow at a “slight to moderate pace,” with businesses generally optimistic about the outlook.

The IRS has issued two sets of proposed regulations for Trump accounts, the new type of individual retirement accounts for eligible children under Sec. 530A of H.R. 1.

An agreement between professional accounting bodies in North America’s three largest countries will extend cross-border practice mobility for CPAs through the end of 2028.

In a letter to the IRS, the AICPA requested penalty relief for qualified farmers due to changes made to the instructions for Form 8995.

The IRS’s annual “dirty dozen” list of tax frauds and scams now includes artificial intelligence abuses and fraudulent claims involving undistributed long-term capital gains.

The IRS recently updated its Schedule 1-A for tax year 2025 so eligible taxpayers can claim tax breaks on tips, overtime, auto loans, and the enhanced deduction for senior citizens.

Tax refunds have increased by over 10% in 2026, with the average refund amounting to $3,804, which is $351 more than last year, according to the IRS report released on Friday, Feb. 27.

GASB is accepting comments through Monday, April 27, on proposed authoritative guidance related to subsidies in Statement No. 103, Financial Reporting Model Improvements.

The Government Accountability Office (GAO) recently stated that recommendations from tax practitioners may have reduced improper employee retention credit (ERC) payments.

The AICPA Auditing Standards Board recently published proposed updates to attestation standards, in part to address sustainability information and other emerging areas of assurance.

The IRS is hosting a timely webinar on Tuesday, March 3, that identifies the individual tax provisions enacted under the One Big Beautiful Bill Act.

The AICPA recently urged the IRS and Treasury to automatically enroll eligible children in the new Trump accounts and deposit the corresponding $1,000 seed contribution.

A new global report found that most companies committed to AI tools believe they have a strategic advantage, but they also have more risks to consider.

The IRS launched a new webpage that allows taxpayers to confidentially report suspected tax fraud, scams, evasion or other tax-related illegal activities.

A recent survey found that fewer taxpayers say they would consider trusting artificial intelligence (AI) over hiring a tax professional to file their taxes this year compared with 2025.

Numbers released on Tuesday by the Federal Deposit Insurance Corporation show Wisconsin banks had a strong fourth quarter in 2025, with numbers better than nearly all national averages.