Accounting, tax, auditing news

Social Security wage base and COLA announced for 2027

The Social Security Administration announced a 3.6% cost-of-living adjustment for 2027 and increased the Social Security wage base to $192,300. The annual update also includes changes to retirement earnings limits and other indexed Social Security amounts that affect taxpayers and employers.

AICPA recommends IRS clarification of Form 8050

AI and the audit: AICPA publishes practice aid to assist auditors

AICPA reminds states of disaster-relief process with filing deadline near

AICPA among organizations proposing Valuation Performance Framework

Recasting retirement: 3 ways AI is changing client-adviser conversations

Treasury, IRS propose regulations for education tax credit