The notice of proposed rulemaking states that the exclusion of certain degree programs, including accounting, from the definition “does not reflect a value judgment” but rather serves as a technical term to define levels of federal student loan limits. An AICPA statement expressed appreciation for the “recognition of the broad definition and various aspects of the word ‘professional.’”
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Change at the top: PCAOB will feature new chair, 3 new board members
The SEC appointed a retired EY partner as chair to “usher in a new day at the PCAOB.”
IRS will stay fully staffed for first 5 days of shutdown
Treasury posted a lapsed appropriations contingency plan late last week that calls for the IRS to be fully staffed through Friday during the partial government shutdown.
Profession Ready Initiative targets gaps in early-career CPA readiness
The AICPA project will collect extensive data, beginning with a survey live now, that will support the development of resources to help employers, academics, and early-career professionals navigate a rapidly evolving workplace.
New law, IRS workforce cuts raise red flags for tax season, reports say
Separate reports from two federal oversight bodies warn that the IRS may struggle to maintain service levels between now and April 15, possibly causing delays in tax refunds and in getting answers by phone.
SECURE 2.0 amendment deadline extended for IRAs, other retirement plans
The IRS extended the deadline for SECURE 2.0 related amendments to IRAs, SEPs, and SIMPLE IRAs to Dec. 31, 2027, saying that additional time is needed to complete model language.
IRS releases FAQs on qualified overtime pay deduction under H.R. 1
An IRS fact sheet explains when overtime compensation qualifies for the H.R. 1 deduction and how Fair Labor Standards Act rules apply, including for federal employees.
Fraud and technology: How to handle the double-edged sword
As audit committees get down to business, they face risks related to technology but also can empower their organizations to use technology as a tool to fight fraud.
Undergraduate enrollment in accounting continues to rise
National Student Clearinghouse data reveals a 7.3% year-over-year increase for the fall semester, more than six times the increase across all majors.
Cost-of-living increases could hurt 2026 financial goals, poll says
The Harris Poll, conducted on behalf of the AICPA, found that most Americans have financial goals, with saving money as the top one.
IRS Advisory Council report defends workers, criticizes budget and staff cuts
In its annual report, IRSAC said the IRS has been through “an extraordinarily difficult year” with budget and staff cuts while preparing for numerous tax law changes. The report also noted tax practitioners’ prolonged wait times when contacting the IRS.
AICPA tax policy and advocacy successes: 2025 highlights
The AICPA’s Tax Division volunteer committees and technical resource panels can point to many positive results last year from its advocacy to Treasury, the IRS, and Congress for law changes and administrative guidance.
AICPA pushes for congressional support of Fiscal State of the Nation Act
The AICPA also released survey results showing that 81% of Americans support an annual fiscal report to Congress.
Report: AI speeds up work but fails to deliver real business value
Organizations are capturing speed through AI, but much of the reclaimed time is spent correcting or rewriting low-quality AI output, a global report says.
CFOs signal crucial role that technology will play in 2026
Confidence among finance leaders at large companies rises along with their expectations about the impact that artificial intelligence and other advanced technologies will have in the coming year.
Stablecoin reporting: AICPA’s updated criteria includes controls
A new section in the AICPA’s guide to stablecoins supports operations related specifically to the reporting of asset-backed fiat-pegged tokens.
5 imperatives for auditors from the PCAOB chair
George Botic, using his signature colorful language, shares the focus areas that auditors should prioritize for the coming year.
Prop. regs. amend Sec. 3406 backup withholding regulations
The IRS issued the proposed regulations to reflect changes made by H.R. 1 to the threshold for backup withholding for third-party settlement organizations such as PayPal, Venmo, and others.
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.
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.
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Promises of ‘fast and easy’ threaten SOC credibility
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