Tax, accounting, auditing news - Journal of Accountancy

March 16, 2026

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.

March 16, 2026

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.

March 10, 2026

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.

March 9, 2026

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.

March 9, 2026

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.

March 6, 2026

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.

March 6, 2026

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.

March 5, 2026

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.

March 5, 2026

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.

March 4, 2026

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.

March 4, 2026

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.

March 2, 2026

New Schedule 1-A for tips, OT, car loans, and senior deductions published

The Schedule 1-A does not differ from the draft version issued last year, but instructions for Form 1040 provide details and examples on the four temporary deductions.

March 2, 2026

GASB proposes guidance for financial reporting model improvements

The board is accepting comments through April 27 on proposed authoritative guidance related to subsidies in Statement No. 103, Financial Reporting Model Improvements.

March 2, 2026

Senate bill targets preparers who break the law, expands IRS reforms

The AICPA supports the Taxpayer Assistance and Service Act but seeks further improvements.

February 27, 2026

AICPA asks Department of Education to list accounting as a professional degree

In a comment letter, the AICPA asks that the department’s new rule related to student loan limits either list accounting as a “professional degree program” or retain current language stating that “professional degrees may include but are not limited to” the list in a notice of proposed rulemaking.

February 27, 2026

IRS should open Trump accounts for eligible children automatically, AICPA says

In a letter to the IRS and Treasury, the AICPA said enrolling children by default “would promote equitable access, reduce procedural barriers, and strengthen the intended reach of the program.”

February 26, 2026

AI early adopters pull ahead but face rising risk, global report finds

Most companies committed to AI tools believe they have a strategic advantage, but they also have more risks to consider.

February 26, 2026

COSO creates audit-ready guidance for governing generative AI

The Committee of Sponsoring Organizations of the Treadway Commission’s publication relies on its proven internal control framework to help companies manage AI-related risks.

February 26, 2026

GAO says tax pros helped shape IRS response to ERC issues

The report to Congress also recommends four ways for the IRS to close the chapter on the pandemic-era credit.

February 26, 2026

Auditing Standards Board proposes changes to attestation standards

An exposure draft approved by the AICPA board updates baseline standards and addresses sustainability and other emerging areas of assurance.

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Instead of rewriting prompts each time, CPAs can turn routine tasks into reusable AI Skills. This Technology Q&A walks through how to build Claude Skills that process files, ask setup questions, and export clean Excel outputs.