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The magazines

What kind of deduction is a hobby expense?

In a case of first impression for the Eleventh Circuit, the court affirmed a Tax Court holding that expenses of activities not engaged in for profit, i.e., hobbies, are allowable only as miscellaneous itemized deductions under Sec. 67(a).

Diversification or dabbling? You make the call

Undertaking a new service or providing service to a client in an industry with which the CPA is unfamiliar, referred to as “dabbling,” can elevate the risk of errors and professional liability claims. Learn why.

Data analytics and visualization in the audit

The ability to quickly identify key points in large quantities of data — and to illustrate those findings to assess audit-related impacts — gives auditors a key tool for transforming audit processes.

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ERC disallowance letters sent to 20K+ taxpayers … Lower Form 1099-K threshold delayed again … Prop. regs. issued on conservation easement deduction disallowance … AICPA adopts revised tax standards … Proposed crypto regs. define ‘broker’ too broadly, industry says … Werfel: IRS must move quickly to show what a well-funded agency can do

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AICPA, others call for a one-year extension of BOI report deadline … COVID-19 changes allowing e-signatures made permanent … IRS emphasizes strides as it presses to keep funding … ‘As if they were never filed’: IRS outlines steps to withdraw ERC claims … 13 states will participate in IRS Direct File pilot

What AI can do for auditors

Firm leaders explain why they are using artificial intelligence to transform audits and how they are handling barriers to AI adoption.

SPONSORED REPORT

Agentic accounting has arrived: What’s hype and what’s real?

Artificial intelligence (AI) is moving beyond chatbots and into accounting workflows. A new generation of agentic AI tools can plan, execute, and adapt as they complete tasks, raising expectations for what automation can do inside firms and finance departments. What can agentic AI realistically do today and what challenges are there in its implementation? Find out in this Journal of Accountancy sponsored report.

From The Tax Adviser

August 31, 2026

What today’s clients expect from their CPA and how firms are responding

August 31, 2026

2026 tax software survey

August 31, 2026

A risk framework for AI use in tax administration and preparation

July 31, 2026

Current developments in S corporations