Tax, accounting, auditing news - Journal of Accountancy

September 15, 2025

IRS finalizes regulations for Roth catch-up contributions under SECURE 2.0

The final regulations are similar to the proposed regulations issued in January, with some changes that the IRS said were made in response to comments.

September 15, 2025

PEEC seeks feedback on guidance for providing tax services to attest clients

An exposure draft addresses potential threats to independence when members perform tax advisory and tax planning services. The comment deadline is Dec. 15

September 15, 2025

OMB announces plan to eliminate 60 accounting rules for federal contractors

The White House Office of Management and Budget’s Cost Accounting Standards Board published a final rule and a proposed rule that would eliminate “redundant” requirements.

September 15, 2025

IRS releases draft form for tip, overtime, car loan, and senior deductions

The IRS on Friday released a draft of Schedule 1-A (Form 1040), a single form that consolidates the calculations of the four temporary deductions for tips, overtime, car loan interest, and seniors that are allowed under H.R. 1.

September 10, 2025

MAP Survey finds CPA firm starting pay on the rise

Starting salaries increase 17% over two-year period for master’s graduates, 11% for those with a bachelor’s degree.

September 9, 2025

Skilled for success? Accounting newcomers say yes, managers say no

Employees in their first five years give themselves high ratings on readiness skills, but those who manage new employees don’t see it that way.

September 9, 2025

IRS warns taxpayers: Social media advice can lead to costly penalties

Misleading posts about credits like the fuel tax credit are landing taxpayers in trouble — with fines up to $5,000 for frivolous returns.

September 8, 2025

Global tax deal could hurt US companies, says letter requesting OECD guidance

A letter from the Association of International Certified Professional Accountants addresses guidance and recommendations on the Pillar Two framework co-existing with U.S. tax rules for U.S. multinational enterprises in a side-by-side system to the OECD.

September 8, 2025

Few companies strategically using risk management

Even though most leaders look at risk when evaluating new strategic initiatives and don’t view a lack of value as a barrier to implementation of risk management measures, few put it all together and turn enterprise risk management into a competitive advantage.

September 4, 2025

Treasury posts preliminary list of jobs eligible for no tax on tips

The list has a variety of occupations that customarily receive tips, including bartenders, dancers, and digital creators.

September 4, 2025

California issues draft guidance for climate risk disclosure

Large companies that conduct business in the state have until Jan. 1, 2026, to publish their first climate-related financial risk reports.

September 4, 2025

Business outlook brightens somewhat despite trade, inflation concerns

CPA leaders’ optimism about their own organizations remained the same, and projections for revenue and hiring rose slightly, a quarterly survey shows.

September 3, 2025

New: Digital assets practice aid addresses auditing of lending, borrowing

A new chapter in Accounting for and Auditing of Digital Assets provides examples of substantive procedures and scenarios for both the lender and borrower perspectives.

August 29, 2025

Guidance on research or experimental expenditures under H.R. 1 issued

The revenue procedure advises taxpayers how to make various elections, file amended returns, and change accounting methods as provided under Section 70302 of the new law.

August 29, 2025

PCAOB postpones effective date for new quality control system

The PCAOB announced that QC 1000, A Firm’s System of Quality Control, is set to be effective Dec. 15, 2026, to give firms sufficient time for implementation.

August 28, 2025

Draft 2026 Form W-2 includes boxes and codes for tips and overtime

The IRS said previously that it will not release a new form for 2025, even though the temporary H.R. 1 provisions are effective this year, but it will provide transition relief.

August 27, 2025

Out of office: Employers’ push for more office time meets resistance

While the number of days the average employee is expected to work in the office approaches three, the number of days spent in the office lags behind employer expectations.

August 25, 2025

SEC accepting Professional Accounting Fellow applications

The SEC’s Office of the Chief Accountant is accepting applications for positions that will begin later this year.

August 25, 2025

IRS seeks to fill ‘critical vacancies’ as workforce declines 25%

The IRS has asked some employees who accepted deferred resignation offers if they want to stay on the job.

August 22, 2025

Will budget, staff cuts impede IRS modernization? Former commissioner weighs in

Former IRS Commissioner Danny Werfel says the cuts, combined with the need to reengineer systems for the OBBBA, will make it difficult for the IRS to succeed at improving technology.

FROM THIS MONTH'S ISSUE

Flip out with the latest Tech Q&A

The September Technology Q&A column shows how to create dynamic to-do lists with Excel's checkboxes and also how to set up multifactor authentication texts that don't rely on phones. Flip through both items and view a video walkthrough in our digital format.