Use of the sample forms and proposed rollover procedures in the guidance is optional for plan sponsors.
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IRS staffing cuts delayed paper returns and refunds, report says
For most taxpayers, the 2026 filing season was normal, a government report says. Those who filed paper returns or relied on paper refund checks faced delays because of a smaller IRS workforce and technology problems.
Final rule will eliminate BOI reporting for US entities
Treasury said a final rule will permanently end beneficial ownership information reporting requirements for U.S. companies and U.S. persons under the Corporate Transparency Act.
Trump account prop. regs. clarify $2,500 limit for workers
The proposed regulations, which the IRS said would affect millions of children, families, and employers, also address self-employed owners, Sec. 125 cafeteria-plan contributions, and employer matching of the government’s $1,000 pilot-program contribution.
Final regs. issued for Sec. 3406 backup withholding rules
Final IRS regulations reflect changes made by the OBBBA to rules governing backup withholding on third-party network transactions under Sec. 3406.
4 Social Security rules that surprise clients — and some advisers
A divorced spouse may qualify for benefits based on their ex’s work record. A surviving spouse may qualify before age 62. And some families may be eligible for benefits related to their children.
IRS updates overtime deduction FAQs, adds reporting details
Workers generally may claim the overtime pay deduction only for amounts reported on Form W-2, Wage and Tax Statement, beginning in tax year 2026, according to updated IRS FAQs. The IRS also clarified that the deduction does not make overtime pay exempt from gross income.
PEEC to continue discussions on alternative practice structures
The AICPA’s Professional Ethics Executive Committee will revisit in October proposed revisions to the AICPA Code of Professional Conduct related to firm independence and alternative practice structures.
IRS adds notices, payment features to business tax accounts
Eligible businesses and organizations can now view more digital notices, make payments on installment agreements, and obtain EIN verification documents online.
IRS guidance addresses expanded paid family and medical leave credit
The guidance explains how employers can claim the expanded credit for paid family and medical leave beginning in 2026 using a premium-based method.
FASAB provides new guidance on public-private partnerships disclosures
The technical release aims to address implementation challenges shared by practitioners regarding a standard issued a decade ago.
IRS warns crypto holders about fake compliance portal scam
The IRS said fraudsters are mailing letters that direct digital asset holders to a bogus “Digital Asset Compliance Portal” that mimics IRS.gov to collect personal information.
Senate Finance Committee advances tax bill backed by AICPA
The Senate Finance Committee approved the Taxpayer Assistance and Service Act, legislation backed by the AICPA that would modernize IRS operations, expand taxpayer services, and give the IRS authority to deny, revoke, or suspend preparer tax identification numbers.
A new top 5 firm: Grant Thornton acquiring fellow top 10 firm CBIZ
The deal, which includes an investment by private-equity company New Mountain Capital, will create a footprint featuring 34,000-plus employees in more than 20 countries and territories.
FinCEN director expects final BOI reporting rule soon
The director of the Financial Crimes Enforcement Network told a congressional subcommittee that she’s “very optimistic” that the final rule will be issued before the end of the year.
As AI use in cybersecurity rises, so do the risks
The share of respondents actively using AI in cybersecurity strategy rose sharply in a global survey, but governance is not maturing at the same pace as deployment.
PCAOB seeks feedback on its 5-year strategic plan
The board that oversees audits of public companies proposed six goals in a draft of its 2026–2030 strategic plan.
Are finance leaders moving too fast on agentic AI?
While more than 9 in 10 senior finance leaders in a recent survey said they’re under career pressure to demonstrate a return on agentic AI investment, the ROI may be slowed by an emphasis on speed above all.
Why social media ‘failures’ can be big wins for small firms
The social media post that looks like a flop may actually result in a new client. Small firms should value authentic engagement over likes and follows, two ENGAGE presenters contend.
SEC eyes e-delivery as the default over paper
The proposal would allow issuers, broker-dealers, investment advisers, and others to deliver information to investors electronically without first obtaining affirmative consent.
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