A January JofA article and CPA Letter were named winners in the 2025 Eddie and Ozzie Awards.
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Promotion opportunities abound for CFO hopefuls
One trend in a report on large company executive turnover: more hiring of internal candidates for vacant CFO seats.
IRS furloughs nearly half its workers, closes most operations
Under an updated contingency plan, nearly 40,000 of the approximately 74,000 IRS workers will stay on the job, including more than 24,000 in Taxpayer Services. In response to the plan, the AICPA recommended “fair, reasonable, and practical relief measures to mitigate the negative impact of the shutdown” on taxpayers and practitioners.
Annual inflation adjustments announced for tax year 2026
The IRS published annual inflation adjustments for more than 60 tax provisions for tax year 2026, in addition to changes to the standard deduction for tax year 2025.
Social Security Administration head to also serve in new IRS role
Treasury Secretary Scott Bessent said Monday that Frank Bisignano, the commissioner of the Social Security Administration, will serve in the newly created role of CEO of the IRS.
AICPA calls for fully staffed IRS regardless of shutdown length
With an Oct. 15 tax deadline looming for many and guidance needed on H.R. 1, the AICPA says it’s imperative that the IRS keep all employees on the job.
PCAOB publishes guidance related to Audit Evidence amendments
The guidance, combined with a recent PCAOB policy statement, applies to requirements becoming effective later this year.
Job cuts mean strong 2025 tax season may be hard to repeat, IRS watchdog warns
Critical staff stayed on the job for this year’s tax season, but that won’t be the case in 2026, the Treasury Inspector General for Tax Administration said in a new report.
Is spending on technology spinning out of control?
Information technology spending, driven by AI investment, is consistently rising, but a survey finds that most leaders assume that they’re spending more than other companies are.
IRS removes associated property rule in final interest capitalization regulations
The final regulations make minor clarifying changes to proposed regulations issued last year.
IRS withdraws prop. regs. affecting corporate spinoff transactions
The proposed regulations were withdrawn in response to comments that criticized the proposed guidance, according to the IRS.
FASB update refines reporting scope for derivatives
In response to “the broad and evolving application of the definition of a derivative,” FASB issued an Accounting Standards Update that aims to address stakeholder concerns about the application of derivative accounting.
IRS shutdown plan: Employees stay on the job for first 5 workdays
The IRS would use money from the Inflation Reduction Act to keep the agency’s over 74,000 employees working for the first five days of a potential government shutdown.
IRS trims PTIN fee as renewal season nears
The fee reduction comes as a result of a biennial review of PTIN fees.
Paper tax refund checks on the way out as IRS shifts to electronic payments
The IRS will phase out the use of paper checks for refunds beginning Sept. 30 and will publish detailed guidance later.
Practice mobility update: New NASBA tool tracks changes for CPAs
The online resource features searchable state-by-state summaries to assist CPAs looking to practice across state lines with one license.
IRS keeps per diem rates unchanged for business travel year starting Oct. 1
In its list of high-cost and low-cost localities, the IRS kept per diem rates for travel, meals, and incidental expenses unchanged for the new annual period starting Oct. 1.
Managing teams, managing time: The importance of setting expectations
Leaders explain how making sure new employees understand what to expect in terms of work schedule is a crucial step for building successful teams with staying power.
Details on IRS prop. regs. on tip income deduction
The proposed regulations define “qualified tips” for purposes of the deduction and contain details on allowable forms of payment.
AICPA urges IRS to modernize estate and trust tax forms
In a letter to the IRS, the AICPA said the changes align with an executive order mandating that all federal tax payments and refunds be processed electronically.
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From The Tax Adviser
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
Current Developments in Taxation of Individuals: Part 1
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