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IRS withdraws proposed regs. governing built-in losses and gains

IRS withdraws proposed regs. governing built-in losses and gains

The IRS said Tuesday that it expects to issue a revised notice of proposed rulemaking after it studies the issues addressed in the 2019 proposed regulations.

Senate passes reconciliation bill including tax changes

Senate passes reconciliation bill including tax changes

The Senate passed its version of the One Big Beautiful Bill Act. The bill contains many tax provisions beyond extending portions of the Tax Cuts and Jobs Act and differs from the Finance Committee version in key areas.

Economic pessimism grows, but CFOs have strategic responses

Economic pessimism grows, but CFOs have strategic responses

Nearly half of CFOs in Grant Thornton’s second-quarter survey are pessimistic about the U.S. economy. Their responses include supply chain adjustments to reduce the impact of tariffs.

Senate budget bill would preserve PTET SALT deduction

Senate budget bill would preserve PTET SALT deduction

An AICPA statement after the bill was issued by the Senate Budget Committee lauded lawmakers for “diligent work to reject new tax increases” on passthrough business including CPA firms.

IRS staffing, budget cuts threaten 2026 filing season, taxpayer advocate says

IRS staffing, budget cuts threaten 2026 filing season, taxpayer advocate says

After a successful 2025 tax filing season, the loss of over 25% of staff and a 37% drop in funding leave the status of the 2026 season in doubt, the national taxpayer advocate’s midyear report said.

‘Shift your tech strategy’: 3 keys to positive ROI

‘Shift your tech strategy’: 3 keys to positive ROI

Business leaders are investing more than ever in new technologies, but the investment likely won’t pay off without a plan that aligns tech with business objectives.

The expected salary range for middle-market CFOs

The expected salary range for middle-market CFOs

CFOs at middle-market companies can expect a base salary of at least $350,000 a year, according to one recent survey that addressed compensation and career paths.

AICPA proposes changes to Senate bill that would help most US businesses

AICPA proposes changes to Senate bill that would help most US businesses

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.

GASB updates guidance on application of standards

GASB updates guidance on application of standards

The guide aims to assist state and local governments via a series of questions and answers.

Elimination of PCAOB can’t remain in budget bill, Senate official rules

Elimination of PCAOB can’t remain in budget bill, Senate official rules

The Senate parliamentarian’s office determined that a provision aimed at folding the PCAOB into the SEC doesn’t qualify for the budget reconciliation process.

Tax provisions of Senate Finance’s version of the budget bill

Tax provisions of Senate Finance’s version of the budget bill

The 549-page text calls for making many provisions of the Tax Cuts and Jobs Act permanent. The committee says that the SALT cap amount is “the subject of continuing negotiations.”

Lessons from a CPA whose firm delivered a ‘textbook response’ to data breach

Lessons from a CPA whose firm delivered a ‘textbook response’ to data breach

The owner of a CPA firm in Texas told attendees at an AICPA & CIMA ENGAGE 25 session on data security that the breach was one of the hardest things she had experienced in her career, yet she came out of it with clients still viewing her positively.

SEC names new chief accountant

SEC names new chief accountant

Kurt Hohl, CPA, is set to begin the role with the SEC in early July. He replaces Paul Munter, who left the job in January.

AICPA makes Priority Guidance Plan recommendations to IRS

AICPA makes Priority Guidance Plan recommendations to IRS

In addition to its 183 recommendations for the IRS plan, the AICPA encouraged the agency to continue to pursue tax simplification.

Supreme Court: Tax Court lacks jurisdiction after removal of levy

Supreme Court: Tax Court lacks jurisdiction after removal of levy

Reversing the Third Circuit, the Court holds that the Tax Court lacked jurisdiction over a collection due process appeal of a levy once the taxpayer’s underlying tax liability was satisfied and the IRS removed the levy.

Insights from ENGAGE: Clever ways to improve your focus at work

Insights from ENGAGE: Clever ways to improve your focus at work

Technology is responsible for creating decision fatigue, but a productivity expert shares how you can use those same technologies to reverse the impact and gain greater focus.

IRS provides additional transition relief for certain digital asset brokers

IRS provides additional transition relief for certain digital asset brokers

The relief applies to brokers who must report certain digital asset sales and exchanges on Form 1099-DA and is in response to public comment that brokers need more time to comply.

Senate confirms Billy Long as IRS commissioner

Senate confirms Billy Long as IRS commissioner

The former Missouri congressman is the sixth head of the IRS since January. He was confirmed by a vote of 53-44.

What some state CPA leaders are saying about PTET SALT deduction

What some state CPA leaders are saying about PTET SALT deduction

CPA societies from 53 states and jurisdictions have backed the AICPA in the PTET SALT deduction effort. On Thursday, five state CPA leaders explained more about why they want the deduction preserved.

AICPA proposes controls framework for stablecoin issuers

AICPA proposes controls framework for stablecoin issuers

The Assurance Services Executive Committee is seeking public comments on an exposure draft designed to ensure an effective system of controls is in place in connection with recently issued reporting guidelines focused on stablecoins.