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The IRS withdrew proposed regulations on the treatment of built-in items of income, gain, deduction and loss that a loss corporation considers following an ownership change.

The House passed the Senate’s version of the "One Big Beautiful Bill Act," sending it to President Donald Trump for his signature.

The IRS said it's aware of a delay in processing some electronic payments and that some taxpayers are receiving IRS notices indicating a balance due.

The Senate passed its reconciliation bill on Tuesday, July 1, which removes the limit on pass-through businesses’ SALT deductions entirely.

A revised version of the budget bill that passed a procedural vote in the Senate would preserve the SALT deduction for certain passthrough businesses, including accounting firms.

National Taxpayer Advocate Erin Collins has released her Fiscal Year 2026 Objectives Report to Congress, highlighting a largely successful 2025 filing season while raising ongoing concerns.

The new report reveals a concerning divide in the tax and accounting industry, with 40% of firms having no significant plans to adopt artificial intelligence (AI) strategies.

The IRS’s Taxpayer Advocate Service (TAS) is preparing to replace a 20-year-old case management system this summer in a move to accelerate case processing times.

Passthrough entities would lose ground compared with corporations under tax language in the Senate Finance Committee bill, the AICPA said in a letter to legislative finance leaders.

The Governmental Accounting Standards Board (GASB) recently issued Implementation Guidance Update — 2025, a guide updated for the first time in nearly two years.