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The House of Representatives approved an amended version of the budget reconciliation bill on Thursday, May 22, sending it to the Senate for consideration.

A new survey found that most professionals (72%) are using some form of artificial intelligence (AI) at work.

The WICPA is expressing strong concerns over the proposed discontinuation of the state and local tax (SALT) pass-through entity tax deduction used by specified service trades and businesses.

The AICPA is asking accountants to reach out to their congressional representatives and protest the proposed elimination of the ability of pass-through entities to deduct state and local taxes.

FASB recently published an Accounting Standards Update (ASU) that provides guidance for share-based consideration payable to a customer in conjunction with selling goods or services.

A recent global talent survey found that over half of North American accounting and finance professionals aspire to become entrepreneurs.

The PCAOB recently highlighted the results of conversations that board staff had with audit committee chairs of U.S. public companies and broker-dealers last year.

The IRS is now accepting grant applications for the Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) programs.

The boards of directors of the AICPA and the NASBA recently approved an expansion of accountancy’s model legislation to include an additional path to CPA licensure.

FASB recently published an Accounting Standards Update (ASU) to improve the requirements for identifying the accounting acquirer in FASB ASC Topic 805, Business Combinations.