Tax, accounting, auditing news - Journal of Accountancy

October 9, 2025

IRS furloughs nearly half its workers, closes most operations

Under an updated contingency plan, nearly 40,000 of the approximately 74,000 IRS workers will stay on the job, including more than 24,000 in Taxpayer Services. In response to the plan, the AICPA recommended “fair, reasonable, and practical relief measures to mitigate the negative impact of the shutdown” on taxpayers and practitioners.

October 9, 2025

Annual inflation adjustments announced for tax year 2026

The IRS published annual inflation adjustments for more than 60 tax provisions for tax year 2026, in addition to changes to the standard deduction for tax year 2025.

October 7, 2025

Social Security Administration head to also serve in new IRS role

Treasury Secretary Scott Bessent said Monday that Frank Bisignano, the commissioner of the Social Security Administration, will serve in the newly created role of CEO of the IRS.

October 6, 2025

AICPA calls for fully staffed IRS regardless of shutdown length

With an Oct. 15 tax deadline looming for many and guidance needed on H.R. 1, the AICPA says it’s imperative that the IRS keep all employees on the job.

October 3, 2025

PCAOB publishes guidance related to Audit Evidence amendments

The guidance, combined with a recent PCAOB policy statement, applies to requirements becoming effective later this year.

October 2, 2025

Job cuts mean strong 2025 tax season may be hard to repeat, IRS watchdog warns

Critical staff stayed on the job for this year’s tax season, but that won’t be the case in 2026, the Treasury Inspector General for Tax Administration said in a new report.

October 2, 2025

Is spending on technology spinning out of control?

Information technology spending, driven by AI investment, is consistently rising, but a survey finds that most leaders assume that they’re spending more than other companies are.

October 1, 2025

IRS removes associated property rule in final interest capitalization regulations

The final regulations make minor clarifying changes to proposed regulations issued last year.

September 30, 2025

IRS withdraws prop. regs. affecting corporate spinoff transactions

The proposed regulations were withdrawn in response to comments that criticized the proposed guidance, according to the IRS.

September 30, 2025

FASB update refines reporting scope for derivatives

In response to “the broad and evolving application of the definition of a derivative,” FASB issued an Accounting Standards Update that aims to address stakeholder concerns about the application of derivative accounting.

September 29, 2025

IRS shutdown plan: Employees stay on the job for first 5 workdays

The IRS would use money from the Inflation Reduction Act to keep the agency’s over 74,000 employees working for the first five days of a potential government shutdown.

September 29, 2025

IRS trims PTIN fee as renewal season nears

The fee reduction comes as a result of a biennial review of PTIN fees.

September 24, 2025

Paper tax refund checks on the way out as IRS shifts to electronic payments

The IRS will phase out the use of paper checks for refunds beginning Sept. 30 and will publish detailed guidance later.

September 24, 2025

Practice mobility update: New NASBA tool tracks changes for CPAs

The online resource features searchable state-by-state summaries to assist CPAs looking to practice across state lines with one license.

September 23, 2025

IRS keeps per diem rates unchanged for business travel year starting Oct. 1

In its list of high-cost and low-cost localities, the IRS kept per diem rates for travel, meals, and incidental expenses unchanged for the new annual period starting Oct. 1.

September 22, 2025

Managing teams, managing time: The importance of setting expectations

Leaders explain how making sure new employees understand what to expect in terms of work schedule is a crucial step for building successful teams with staying power.

September 19, 2025

Details on IRS prop. regs. on tip income deduction

The proposed regulations define “qualified tips” for purposes of the deduction and contain details on allowable forms of payment.

September 19, 2025

AICPA urges IRS to modernize estate and trust tax forms

In a letter to the IRS, the AICPA said the changes align with an executive order mandating that all federal tax payments and refunds be processed electronically.

September 19, 2025

FinCEN postpones anti-money-laundering rule

The Financial Crimes Enforcement Network said Monday that it will revisit the scope of an anti-money-laundering rule that affects small registered investment advisers. It said the effective date was expected to be postponed from Jan. 1, 2026, to Jan. 1, 2028.

September 19, 2025