Featured Accounting News

A newly published AICPA standards update will affect how CPAs obtain audit evidence through external confirmation procedures.

Citing rising gas costs, the IRS has set a higher optional standard mileage rate used to calculate the deductible costs of operating an automobile for business for the remainder of 2026.

The IRS has announced tax relief for individuals and businesses in Wisconsin affected by severe storms, tornadoes and flooding that began on April 13, 2026.

AI adoption among U.S. small businesses has risen to 66%, up from 55% a year ago, even as 70% of owners admit to needing more training to use the technology effectively.

The IRS has issued final regulations that designate certain arrangements purporting to be charitable remainder annuity trusts (CRATs) as listed transactions.

North American companies increased salaries for finance-related roles by an average of 6% over the past 12 months amid heightened competition for skilled talent, according to a recent survey.

The IRS announced it will soon automatically abate three types of penalties — failure to file, failure to pay, and failure to deposit — for taxpayers with a history of timely compliance.

While artificial intelligence is often cited as a reason for mass layoffs, a recent study also finds that AI may be creating new jobs in many fast-growing companies.

The IRS has added an online option for individual taxpayers to e-file protective refund claims related to the Kwong decision.

The Wisconsin Department of Public Instruction and the Wisconsin Department of Financial Institutions have announced a $300,000 competitive grant program to help support the expansion of financial literacy education statewide.

The IRS believes it did not send any CP53E notices erroneously and is seeking the AICPA’s help to uncover any examples of taxpayers who should not have received one.

FASB has proposed an update to accounting standards that would change how investment companies measure the fair value of equity securities with contractual sale restrictions.

Treasury and the IRS recently provided a gift tax reporting safe harbor for certain contributions to Trump accounts created under the Working Families Tax Cuts.

An updated annual report describes global sustainability reporting as “transitioning from a fragmented landscape toward one that is increasingly structured, standardized and integrated.”

The PCAOB established a new firm consultation process to provide registered public accounting firms with more timely and consistent guidance on implementing and interpreting its standards.

The IRS Office of Professional Responsibility has issued guidance outlining how existing Treasury Circular 230 rules apply to tax practitioners’ use of artificial intelligence.

The PCAOB is seeking stakeholder input through Friday, Aug. 7, on its future focus areas for standard-setting.

The U.S. Supreme Court recently declined to hear a case challenging the IRS’s unlimited time period to impose penalties on taxpayers when their tax preparers commit fraud.

The IRS Office of Professional Responsibility has released introductory guidelines for tax professionals to follow when using generative artificial intelligence in practice.

Managing technology-driven change is the leading issue for CPA firms of all sizes in terms of anticipated impact over the next five years, according to a new AICPA biennial survey.