Tax, accounting, auditing news - Journal of Accountancy

January 9, 2026

SEC proposes amendments to small entity definitions

The SEC proposed amendments to the rules that define which companies and advisers qualify as small entities for purposes of the Regulatory Flexibility Act.

January 9, 2026

IRS IT overhaul set to finish by 2028, former official says

After years of delays, the IRS expects to complete modernization of its fragmented IT systems by 2028, a former acting IRS commissioner said at an AICPA webcast.

January 8, 2026

AICPA proposes changes to independence guidelines related to private equity

The Professional Ethics Executive Committee voted to issue an exposure draft of Proposed Revisions Related to Alternative Practice Structures.

January 8, 2026

IRS to start accepting and processing tax returns on Jan. 26

The IRS acknowledged that new tax provisions could affect federal taxes, credits, and deductions. The start of filing season is in line with previous years.

January 7, 2026

Electronic filing for business tax returns starts next week

The IRS said it will begin accepting business tax returns electronically next week. No date has been announced yet for individual tax returns.

January 6, 2026

AICPA calls on IRS to automate Sec. 1033 extension requests

The recommendation aims to cut delays that leave taxpayers uncertain about disaster related replacement deadlines for property.

January 5, 2026

Proposed regulations provide guidance on car loan interest deduction

In proposed regulations for the car loan interest deduction, the IRS addresses issues for taxpayers and lenders, including eligibility criteria for the deduction and information-reporting requirements.

January 2, 2026

Business standard mileage rate increases for 2026

The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 72.5 cents per mile driven, up 2.5 cents from 2025.

December 23, 2025

IRS updates FAQs on business interest limitation, premium tax credit

The updates reflect changes made in H.R. 1, P.L. 119–21, commonly known as the One Big Beautiful Bill Act.

December 22, 2025

Key signals from the SEC-PCAOB conference point to a busy new year

Susan S. Coffey, CEO–Public Accounting at the Association of International Certified Professional Accountants, shares her top takeaways from last week’s Conference on Current SEC and PCAOB Developments, including observations on audit quality improvements and hints of significant SEC activity in early 2026.

December 19, 2025

GASB issues guidance on subsequent events

GASB issued Statement No. 105, Subsequent Events, which clarifies types of subsequent events and information that should be part of disclosures related to the events.

December 17, 2025

Corporate Transparency Act, source of BOI reporting mandate, held constitutional

Despite the Eleventh Circuit holding that the Corporate Transparency Act is constitutional, an interim rule from Treasury means that domestic companies are not subject to beneficial ownership information reporting requirements.

December 17, 2025

Even an expert says: Digital asset reporting creates headaches

At the AICPA National Tax Conference, digital assets expert Nik Fahrer, CPA, sympathized with tax pros who dread the upcoming tax season because of digital asset reporting requirements.

December 16, 2025

FASB publishes its taxonomies for 2026

Available documents include the 2026 GAAP Financial Reporting Taxonomy and the 2026 SEC Reporting Taxonomy.

December 15, 2025

Accounting profession ‘essential’ to economic stability, coalition says

A coalition’s letter to the Department of Education expresses opposition to draft regulations that would exclude accounting from professional degree designation.

December 10, 2025

Audit transformation road map: New report lays out the journey

A CPA.com and AICPA survey of more than 50 firms unearthed five key themes for audit transformation and a step-by-step approach for a smooth rebuild.

December 9, 2025

IRS clarifies health savings account changes in H.R. 1 in new notice

Among other changes, the guidance explains that bronze and catastrophic plans are considered HSA-compatible under Sec. 223.

December 9, 2025

Governmental Audit Quality Center analyzes 2025 OMB Compliance Supplement

Several GAQC resources are available to assist practitioners involved in single audits and federal grant compliance with putting the delayed OMB supplement to use.

December 8, 2025

FASB issues standard to improve interim reporting

The Accounting Standard Update aims to clarify existing reporting requirements, in part by creating a comprehensive list of interim disclosures that are required in interim financial statements.

December 8, 2025

New SEC chair to CPAs: ‘Back to basics’

Paul Atkins, appearing at the AICPA Conference on Current SEC & PCAOB Developments, asked accounting professionals to focus on financial materiality and provided his thoughts on the future of the PCAOB, crypto, and IPOs.

FROM THIS MONTH'S ISSUE

How a CPA beat burnout after strokes, depression

Randy Crabtree, CPA, suffered two strokes in four days and struggled with his mental health for years before he learned to recognize, address, and prevent chronic stress. Learn from his insights on how CPAs can avoid professional burnout.