The PCAOB requested input on its strategic priorities, seeking the answers to seven questions in particular as it develops a new strategic plan.
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IESBA to assess need for standards on alternative practice structures
The International Ethics Standards Board for Accountants will examine whether new standards are needed to address ethical considerations related to the prevalence of private-equity investment in the accounting profession — a topic already being addressed by the AICPA Professional Ethics Executive Committee.
IRS watchdog cites resource limits, duplication in partnership audits
The Treasury Inspector General for Tax Administration assessed a soft-letter initiative and the IRS’s examinations of 82 major U.S. partnerships.
How listening is shaping ‘incredible’ year for AICPA Chair Lexy Kessler
Kessler has shared plenty of perspective with members and students around the globe, and the perspective she has gained from them in return has highlighted her year of service.
Audit report card: More internal audit teams suffered cuts in 2025
The percentage of internal audit leaders reporting staff and budget reductions in 2025 rivaled numbers during the global financial crisis nearly two decades ago. Strategic alignment was linked to sufficient funding for the function, an annual report showed.
AICPA seeks clarity on revamped paid family leave credit rules
The request came in an AICPA letter to Treasury and the IRS seeking guidance on how employers should implement changes to the paid family leave credit.
IRS provides guidance on business interest limitation elections
The guidance in Rev. Proc. 2026-17 is provided in response to H.R. 1’s amendments to Secs. 163(j) and 168(k).
Adequate identification relief extended through 2026
The relief allows taxpayers to use alternative methods to make adequate identification of digital asset units that are sold, disposed of, or transferred during the relief period.
Private Company Council issues annual report
The report highlights the activities of the group charged with working with FASB to improve the process of setting accounting standards for private companies.
PEEC proposes revised definition of ‘attest engagement team’
The AICPA Professional Ethics Executive Committee seeks comment on a revised definition to gather input on whether the definition appropriately reflects the roles that should be excluded from an attest engagement team. The comment deadline is June 1.
AICPA pushes IRS to ease and expand first‑time abatement rules
The recommendations include allowing taxpayers to rely on substitute reasonable cause when appropriate, permitting them to reserve the automatic first-time abatement for future use.
US, Canada, Mexico extend CPA mobility agreement through 2028
The AICPA and the National Association of State Boards of Accountancy are among the group of entities reaffirming a smooth path for accounting professionals to practice across North American borders.
Top 50 firm announces new majority private-equity investment
Schellman’s investment from Goldman Sachs, a transaction expected to close in the second quarter of this year, comes after its initial private-equity deal with Lightyear Capital in 2021.
IRS proposes regulations for Trump accounts, pilot program
Proposed regulations under Sec. 530A provide information on how to open initial Trump accounts, and proposed regulations under Sec. 6434 provide guidance on the program that provides $1,000 contributions to Trump accounts for eligible children.
IRS seeks to scrap basis‑shifting TOI reporting regulations
If proposed regulations become final, the withdrawal would let taxpayers treat the January 2025 transaction-of-interest regulations as having never taken effect.
IRS Dirty Dozen adds new capital gains scheme for 2026
The IRS says a surge in fabricated Form 2439 filings prompted the only new addition to this year’s Dirty Dozen, underscoring how quickly tax schemes evolve.
IRS proposal eases provision of 1099-DA statements by digital asset brokers
The proposed regulations would shift digital-asset reporting toward electronic-only delivery by loosening consent requirements for brokers.
Optimism, while tempered, is up among finance leaders
Finance decision-makers are more optimistic about the U.S. economy and their own organizations in the first quarter, according to the AICPA and CIMA Economic Outlook Survey.
California board approves regulation for state’s climate reporting laws
Companies with more than $1 billion in revenue are required to post their first annual reports by Aug. 10, while a law affecting companies with at least $500 million in revenue remains paused by a legal challenge.
IRS issues higher 2026 depreciation limits for passenger automobiles
The IRS issued the 2026 depreciation limitations for passenger vehicles, including those for which bonus depreciation is applied.
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