Featured Accounting News

The IRS’s outside technology advisory panel recently called on Congress to provide stable, multiyear funding; expand the use of artificial intelligence; and simplify tax administration.

Treasury last week previewed guidance expected to be released this fall on the new federal scholarship tax credit enacted as part of the One Big Beautiful Bill Act.

FASB recently published a proposed ASU that aims to improve accounting guidance for interest rate risk hedging and net investment hedging.

The PCAOB is seeking feedback on proposed amendments to QC 1000, A Firm’s System of Quality Control, and related amendments to PCAOB forms and the QC reporting rule.

The AICPA Professional Ethics Executive Committee has proposed changes to the definition of “public interest entity” in its Code of Professional Conduct.

NASBA has moved the deadline to submit licensing applications in its current system from Wednesday, July 15, to Saturday, July 11.

The IRS should provide additional guidance on CP53E notices, the AICPA said, after the agency sent the notices to 3 million taxpayers.

FASB recently released a proposed ASU that aims to improve its accounting guidance for certain market-return cash balance plans.

The IRS will merge two offices that deal with tax practitioners — one that deals with misconduct and discipline, and another that administers the PTIN program — a move the AICPA opposed.

A recent data analysis report found that accounting undergraduate enrollment in the U.S. is on the rise for the third consecutive year.

The IRS’s 2025 Data Book highlights the impact of the One Big Beautiful Bill Act, with 45% of individual tax returns claiming new deductions, resulting in average refunds exceeding $3,200.

A national advertising and social media campaign will highlight CPA Trust, a new AICPA initiative focused on deepening recognition of the accounting profession’s full range and value.

Treasury and the IRS recently announced plans to propose regulations on how an excise tax will apply to excessive compensation and “excess parachute payments.”

The IRS has unveiled a new Excel-based calculator to help businesses working on large, multiyear construction or manufacturing projects calculate the interest related to those contracts.

More than half (57%) of senior finance leaders at large companies in a recent survey said they feel positive about the U.S. economy over the next year.

The IRS has released its annual inflation-adjusted amounts for health savings accounts for calendar-year 2027, with across-the-board increases.

The WICPA is currently working with the Wisconsin Farm Bureau Federation to find accounting solutions for farmers in Wisconsin, and we could use your help.

Less than one-third of retirees in a recent survey reported working with a financial adviser, even though nearly seven in 10 are concerned about managing their income throughout retirement.

The IRS has appealed the decision in Kwong, in which the Court of Federal Claims held that the filing deadline for refund claims for penalties and interest was automatically extended due to the COVID-19 disaster declaration.

The IRS will develop an electronic system to track missing taxpayer payments, the agency said in response to a watchdog report.