Featured Accounting News

The AICPA has partnered with two organizations to propose a new framework to guide valuation engagements.

In a September poll of tax professionals, 90% said client misunderstandings about tax extensions are very or somewhat common.

A recent TIGTA report has raised concerns that the IRS has not fully used Foreign Account Tax Compliance Act data to pursue taxpayers who may not have filed Form 8938, which is required for certain foreign financial assets.

Treasury and the IRS issued proposed regulations last week to implement the education freedom tax credit, a new federal tax credit under Sec. 25F for contributions to organizations that provide scholarships to eligible elementary and secondary schools.

A first-of-its-kind report by the U.S. Government Accountability Office estimates annual federal tax fraud losses between $116 billion and $304 billion.

In a recent survey of CFOs, nearly half (48%) said they’d follow an AI recommendation even if it went against their judgment.

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 U.S. Tax Court decision issued earlier this summer underscores the importance of maintaining thorough records and keeping business and personal finances separate.

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.