Tax, accounting, auditing news - Journal of Accountancy

November 18, 2025

Is the IRS just between shutdowns? Former IRS commissioners are worried

Three former IRS leaders, speaking at the 2025 AICPA National Tax Conference, discussed the agency’s future and what happens if a shutdown occurs during filing season.

November 18, 2025

AICPA honors service and professional contributions in tax

Arthur Auerbach, an AICPA volunteer for 23 years, and Cory Perry, the chair of the AICPA’s Organization for Economic Co-operation and Development Task Force, received the tax profession’s highest honors.

November 17, 2025

Introducing the AICPA and CIMA Global Women to Watch program

Thirty women have been recognized as emerging and experienced leaders in the profession.

November 14, 2025

Going into debt for holiday spending? You’re not alone

Nearly half of over 2,000 adults surveyed on behalf of the AICPA said they expect to go into debt for holiday gifts or travel.

November 13, 2025

Inflation adjustments to retirement account limits issued for 2026

The IRS announced inflation-adjusted limits on benefits and contributions for various retirement accounts on Thursday, including maximum contribution amounts for 401(k) plans and traditional and Roth IRAs.

November 12, 2025

Lurking in the shadows: The costs of unapproved AI tools

“Shadow AI” use is rampant among company leadership and employees alike, a practice that exposes businesses to significant financial and reputational risks.

November 7, 2025

Almost 1,400 IRS employees receive layoff notices, adding to staff losses

In court documents filed in a lawsuit, officials said 1,446 Treasury employees received reduction-in-force notices, including 1,399 at the IRS.

November 6, 2025

IRS ends Direct File, shifts focus to Free File upgrades and private sector

The IRS cited low usage and high costs as reasons for shuttering the program, which began during the previous administration.

November 6, 2025

Employers get reporting relief on tips, overtime; won’t face penalties for tax year 2025

An IRS notice says employers won’t face penalties if they don’t provide a separate accounting of cash tips and overtime compensation for tax year 2025 under H.R. 1.

November 5, 2025

A firm grasp on growth: 6 strategies common among high-growth firms

A global survey identifies actions taken by high-growth tax and accounting firms of all sizes that aren’t being taken by stagnant firms.

October 29, 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.

October 29, 2025

Reputation, security, compliance: Why AI risk disclosures are surging

Nearly three-quarters of S&P 500 companies have disclosed at least one AI-related risk in Form 10-K filings so far in 2025. Learn what types of companies are reporting risk and what exactly they’re disclosing.

October 28, 2025

From childhood tax surprise to CPA: A profession leader’s journey

Oscar Vives, who will speak at the AICPA’s National Tax Conference on retirement strategies, says the experience of growing up with a single mother who worked multiple blue-collar jobs strengthened his resolve to use his math skills and help his family.

October 27, 2025

AICPA releases gen AI tool: Josi

A new generative AI tool, initially focused on the auditing and accounting space, accesses information within the AICPA Online Professional Library.

October 27, 2025

The accounting graduate pipeline: Where do things stand?

As public accounting firms continue to report a strong need for new talent, recent declines in accounting graduates are easing, according to the AICPA’s Trends report.

October 24, 2025

Social Security wage base and COLA announced for 2026

Individual taxable earnings of up to $184,500 annually will be subject to Social Security tax in 2026, the Social Security Administration said. The SSA also announced a cost-of-living adjustment of 2.8% for both Social Security and Supplemental Security Income benefits for next year.

October 22, 2025

Congress passes bill requiring IRS to clarify math error notices

The AICPA praised the Senate passage of the bill, saying it will enhance IRS operations and improve the taxpayer experience.

October 22, 2025

AICPA seeks IRS guidance on tip, overtime tax deductions for 2025

The AICPA said taxpayers and tax professionals need certainty about how to claim the deductions for 2025. The IRS has said it will not update its forms until 2026.

October 21, 2025

IRS offers relief on car loan interest reporting under H.R. 1

The agency said it is providing the relief because both lenders and the IRS need more time to comply with the new car loan interest reporting requirements added by H.R. 1.

October 20, 2025

STEM designation for accounting has strong support

Nearly three-fourths of adults surveyed said accounting courses should be a part of the science, technology, engineering, and math education program, with a majority in key age groups saying the designation would make students more likely to pursue accounting education opportunities.