The CPA organizations of Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont have approved a merger to form the New England Society of CPAs.
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NEWS
Optimism mixed among US finance leaders
CPA decision-makers in business and industry are less optimistic about the U.S. economy now when compared with the first quarter of this year, but they are slightly more optimistic about their own organizations, according to an AICPA and CIMA survey.
SEC shares 3 goals in proposed 2026–2030 strategic plan
The commission is accepting comments on the draft through July 2.
6 top scorers on CPA Exam earn Elijah Watt Sells Award
Of more than 87,000 CPA candidates who sat for the CPA Exam in 2025, a half dozen passed all four sections on their first attempt while recording a cumulative average score above 95.5.
IRS proposes increase in cost of estate tax closing letter
Proposed regulations issued Monday would raise the cost of the letter to $76, from the $56 set in 2025.
Most retirees worry about savings — but few use financial advisers
Less than one-third of retired Americans in a recent survey reported working with a financial adviser, even though nearly 7 in 10 are concerned about managing their income throughout retirement.
HSA inflation-adjusted maximum contribution amounts for 2027 announced
Rev. Proc. 2026-24 also includes the revised maximum amount that may be made newly available for excepted-benefit health reimbursement arrangements and the aggregate monthly fees allowable for direct primary care service arrangements.
Two AICPA committees unveil proposed strategic plans for next 4 years
The Peer Review Board and Professional Ethics Executive Committee are accepting feedback on their proposed plans for 2027–2030.
IRS appeals Kwong as advocate says refunds may be at stake
The IRS filed an appeal of the Court of Federal Claims’ Kwong decision, in which the court held that the filing deadline for refund claims for penalties and interest was automatically extended by Sec. 7508A(d) due to the COVID-19 disaster declaration.
SEC proposes rescission of climate disclosure rules
The proposal is the next formal step in the commission’s move away from historic rules it adopted in 2024.
PCAOB works to form Inspections Modernization Council
The board is accepting applications through June 15 to help “modernize PCAOB inspections so they remain relevant and resilient.”
IRS to develop system to track missing payments, TIGTA says
The report from the Treasury Inspector General for Tax Administration finds that manual tracking and uneven workloads slow resolution of cases of unidentified payments.
IRS overtime rose 12% in 2025 while workforce dropped, TIGTA says
Taxpayer Services staff handling calls, correspondence, and other tasks logged most of the overtime, the report from the Treasury Inspector General for Tax Administration said.
GASB seeks new board member
The candidate selected for the part-time position will begin a five-year term in 2027.
FASAB seeks feedback on proposed practical expedient for embedded leases
Comments are requested by July 30 on a proposal that would allow reporting entities to apply a practical expedient to contracts or agreements that meet certain eligibility conditions.
IRS stops billions in identity theft refunds but needs data earlier, report says
A report from the Treasury Inspector General for Tax Administration found that delayed 1099-R and W-2G filings limit the IRS’s ability to spot refund fraud early.
Jan Lewis elected AICPA chair
The tax partner at BMSS Advisors is elected to the one-year volunteer post at AICPA spring Council, succeeding Lexy Kessler. Lindsay Stevenson is elected vice chair.
AICPA supports bills to limit BOI reporting to foreign-owned entities
The AICPA said the changes would ease the compliance load on CPAs who help small businesses navigate federal reporting rules.
Worried about that CP53E QR code? IRS updates FAQs
The IRS expanded its CP53E guidance with fresh information on QR code security, online account access problems, and how taxpayers can confirm successful bank account updates.
FASB issues standard for clarifying environmental credit disclosures
FASB’s chair said that the Accounting Standards Update features guidance “that previously did not exist” related to environmental credits and environmental credit obligations.
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