The IRS issued the annual update of the mileage rate taxpayers may use to compute their deductible automobile costs.
Advertisement
NEWS
Protect staff’s mental health with true time off
PTO isn’t as fulfilling as it could be when staff feel the need to respond to work emails on days off or anticipate coming back to full inboxes.
IRS issues accounting-method change procedures for small businesses
New procedures follow final regulations to implement simplifications by the law known as the Tax Cuts and Jobs Act.
ESG assurance opportunities likely to grow for CPA firms
Companies may need more rigorous assurance on environmental, social, and governance data as regulatory obligations emerge. CPA firms are poised to deliver.
Digital assets, intangibles among priorities on FASB’s new research agenda
FASB updated its research agenda Wednesday in response to comments received in a consultation earlier this year.
SEC addresses share buyback disclosures, insider trading rules
The Securities and Exchange Commission issued separate proposals Wednesday that are designed to enhance share buyback disclosures and provide protections against insider trading.
Decoding the Senate Finance Committee’s Build Back Better text
The Senate Finance Committee has released language for its portion of the reconciliation bill, which some lawmakers would like to pass before Christmas. Here’s what you need to know about the timeline and the bill, which includes several key tax provisions.
PEEC delays interpretation, adopts temporary policy statement
The effective date of the “Information Systems Services” interpretation has been further delayed by the AICPA Professional Ethics Executive Committee, which also issued a temporary policy statement related to employment statutes that may conflict with independence interpretations.
Senate Finance Committee releases tax provisions of Build Back Better Act
The Senate Finance Committee’s text includes changes from the House’s version of the bill, including a removal of the House’s increase in the SALT deduction cap.
Attributes of top-performing firms revealed
MAP survey finds big differences in revenue, profit, and owner compensation.
Audit tips for a pandemic-changed environment
Auditors have a lot to think about as clients experience supply chain disruptions, staff shortages, and new processes and procedures. Here’s what firms need to focus on in this challenging environment.
FASB working to balance desires of investors and preparers
Investors want more disaggregated information. Financial statement preparers are concerned about the costs of preparing that information. FASB Chair Richard Jones is seeking to balance those priorities.
Tips for avoiding trouble with non-GAAP reporting
Non-GAAP measures in public company reporting continue to be scrutinized carefully by SEC staff, according to information presented at the AICPA & CIMA Conference on Current SEC and PCAOB Developments.
Early sunset of the employee retention credit gets penalty relief
The IRS describes how employers may avoid failure-to-pay and failure-to-deposit penalties for ERC claimed or anticipated in the fourth quarter but eliminated by the Infrastructure Act.
AICPA tax advocacy gets results in 2021
The AICPA Tax Policy and Advocacy group worked with the AICPA Congressional Affairs group to represent the interests of practitioners and the public.
Revenue recognition: Tips for challenging circumstances
Certain issues related to revenue recognition are causing enough application problems that the Financial Accounting Standards Board may choose to adjust the standard. But in the meantime, financial statement preparers need to apply the current rules correctly.
What auditors need to know about ESG issues
Regulators and standard setters are making ESG disclosures a bigger area of emphasis. But even current standards require ESG-related risks to be considered, and auditors need to know how to audit this information.
3 key points from the new ‘gold rush’ for intellectual property
Navigating complex deals in rapidly changing markets is a high-pressure challenge. Due diligence remains essential, and it may need to be conducted in a compressed time frame.
SEC increases scrutiny of issuers whose auditors aren’t PCAOB-inspected
The SEC issued rules that create new disclosure requirements for companies that issue public securities in the US but are audited by firms that are not subject to inspection by the PCAOB.
Finance experts’ outlook softens amid supply chain, labor challenges
The CPA Outlook Index dipped slightly but remained in positive territory.
Features
FROM THIS MONTH'S ISSUE
Right-sizing risk management
Sole practitioner or small firm? Risk management doesn’t have to be “one size fits all.” Learn how to help protect your practice without adding unnecessary admin time.
From The Tax Adviser
July 31, 2026
Current developments in S corporations
July 31, 2026
