The candidate selected for the part-time position will begin a five-year term in 2027.
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FASAB seeks feedback on proposed practical expedient for embedded leases
Comments are requested by July 30 on a proposal that would allow reporting entities to apply a practical expedient to contracts or agreements that meet certain eligibility conditions.
IRS stops billions in identity theft refunds but needs data earlier, report says
A report from the Treasury Inspector General for Tax Administration found that delayed 1099-R and W-2G filings limit the IRS’s ability to spot refund fraud early.
Jan Lewis elected AICPA chair
The tax partner at BMSS Advisors is elected to the one-year volunteer post at AICPA spring Council, succeeding Lexy Kessler. Lindsay Stevenson is elected vice chair.
AICPA supports bills to limit BOI reporting to foreign-owned entities
The AICPA said the changes would ease the compliance load on CPAs who help small businesses navigate federal reporting rules.
Worried about that CP53E QR code? IRS updates FAQs
The IRS expanded its CP53E guidance with fresh information on QR code security, online account access problems, and how taxpayers can confirm successful bank account updates.
FASB issues standard for clarifying environmental credit disclosures
FASB’s chair said that the Accounting Standards Update features guidance “that previously did not exist” related to environmental credits and environmental credit obligations.
Final regs. modify reporting obligations for Form 8308, Part IV
The final regulations published Tuesday by the IRS stick with the proposed regulations that modify information-reporting obligations for Part IV of Form 8308, Report of a Sale or Exchange of Certain Partnership Interests.
AICPA submits nearly 200 recommendations for IRS guidance plan
The organization highlighted top technical issues across 10 areas and urged the IRS to prioritize tax simplification.
Taxpayers advised they can ignore CP53E notice — after verifying error
The IRS’s sending of about 1.4 million CP53E notices sparked concerns about errors and fraud. A release from the Taxpayer Advocate Service urged taxpayers to verify their accounts directly on IRS.gov.
IRS announces terms of new conservation easement settlement opportunity
The terms of the new, time-limited settlement opportunity include the type and amount of deduction that eligible taxpayers will be allowed and the penalty rate that will apply.
AI for CPAs: From efficiency tool to decision engine
Most global finance leaders in a new survey report that artificial intelligence is improving decision-making and forecast accuracy in the finance function, and organizations using agentic AI and those making sure AI is assurance-ready are seeing bigger gains.
Another settlement offer planned in IRS conservation easement cases
With hundreds of cases in the courts, the IRS is preparing at least its fourth settlement offer in syndicated conservation easement cases in recent years.
CP53E notice tied to paper-check transition causes confusion
Taxpayers and practitioners are unsure whether the CP53E notices they have received are scams or simply sent in error, a confusion heightened by the inclusion of a QR code.
IRS establishes program for rulings on significant issues
The IRS is reinstating the practice of issuing these letters in response to numerous informal comments from taxpayers and practitioners regarding the time required to process letter ruling requests and the scope of those requests.
SEC proposes semiannual reporting option for public companies
The long-standing requirement that public companies file a quarterly report with the SEC could give way to the option of reporting either on a quarterly or semiannual basis.
Dept. of Education releases final rule on professional degree programs
The final rule, effective July 1, 2026, sets annual and lifetime limits on federal student loans. The AICPA had urged the Department of Education to include language in the final rule that its “professional degree” definition “does not reflect a value judgment.”
AICPA urges use of its stablecoin criteria in GENIUS Act rulemaking
A comment letter to the office responsible for establishing final rules for the Guiding and Establishing National Innovation for U.S. Stablecoins Act makes the case for leveraging the AICPA’s established framework.
Workplace stress reaching a breaking point? How employers can respond
Fifty-two percent of employees in a recent survey self-medicated at work in the previous year, and nearly as many (51%) cried on the job in the previous month. During Mental Health Awareness Month, what can organizations do to ease the pain?
COVID-19 disaster relief case has implications for timely refund claims
National Taxpayer Advocate Erin Collins explained what affected taxpayers need to do in response to the Court of Federal Claims’ holding that a taxpayer’s refund claim filing deadline was automatically extended by Sec. 7508A(d)(1) due to the COVID-19 disaster declaration.
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