Featured Accounting News

Treasury and the IRS issued proposed and temporary regulations that will automatically enroll eligible children in Trump Accounts.

Taxpayers who sell or exchange qualified farmland to active farmers can elect, under proposed regulations released by the Treasury and the IRS, to pay the tax on the gain in four annual installments.

After 15 years as IRS2Go, the IRS’s taxpayer app now offers expanded access to account services under a new name.

Grant Thornton’s third-quarter 2026 CFO Survey found record optimism about corporate profits despite continued uncertainty surrounding the U.S. economy, tax policy and trade.

The IRS issued final regulations increasing the cost of an estate tax closing letter to $76 from $56, adopting the proposed regulations issued in June.

The IRS has increased the special per diem rates taxpayers can use to substantiate business travel expenses, effective Thursday, Oct. 1.

FASB is seeking feedback on a proposed ASU to address stakeholder concerns about accounting guidance on residential mortgage servicing rights.

For the 2026 fiscal year, a TIGTA report found that 86% of sampled information systems had critical vulnerabilities that were not fixed within the IRS’s required 30-day time frame.

Companies are facing a widening gap between increasingly complex risks and their ability to manage them effectively, according to AICPA’s latest State of Risk Oversight report.

The IRS’s CP53E notices created confusion among taxpayers as the agency pushed them toward electronic refunds and away from paper ones under an executive order, a new report found.

A recent U.S. Tax Court case, Sami v. Commissioner, underscores the critical need for proper recordkeeping in claiming business expense deductions.

In its opening brief in a case that could affect millions of taxpayers in potential refund claims, the federal government argued that a lower court misread a COVID-era tax relief law.

The IRS has issued guidance extending tax relief to farmers and ranchers in 49 states — including Wisconsin — who sold or exchanged livestock because of drought conditions.

A recent TIGTA report found that nearly 39,000 high-priority non-filer cases — worth about $15.7 billion in potential tax assessments — were delayed because of resource concerns.

An annual Projected U.S. Tax Rates Report indicated a 3.2% increase in inflation from 2026, compared to the 2.7% increase from 2025.

An ASU issued by FASB aims to improve how investment companies measure the fair value of an equity security that is subject to a contractual sale restriction.

PCAOB recently finalized amendments to QC 1000, setting the stage for the board that oversees audits of public companies to consider a quality control-focused approach to future inspections.

GASB is seeking comment on a discussion memorandum that explores the design of the GASB-GAAP Taxonomy, one pathway to digitalization of governments’ financial statements.

Data privacy and security remain the leading priority for finance leaders for the third consecutive year, scoring 7.6 out of 10 in a recent survey of 902 finance professionals.

The AICPA is seeking clarification from the IRS on guidelines suggesting that tax practitioners should pass AI-related cost savings on to clients.