January 2025

January 10, 2025

IRS announces start date for tax filing season

IRS Commissioner Danny Werfel said he expects the 2025 filing season to build on the success of the two previous seasons if Congress maintains funding.

January 10, 2025

IRS issues proposed regs. on catch-up contributions

The proposed regulations apply to catch-up contributions under a 401(k) or similar workplace retirement plan that generally are allowed for workers who have attained age 50.

January 10, 2025

Basis-shifting transaction reporting addressed in final regs.

The final regulations, which the IRS issued Friday, make several changes to the proposed regulations, including a higher dollar threshold for a basis increase in transactions of interest.

January 9, 2025

AICPA tax policy and advocacy successes: 2024 highlights

It’s worth pausing to reflect on the AICPA’s successes in advocating for the profession with Congress and the IRS during 2024.

January 8, 2025

IRS requires sustained funding to continue to help taxpayers, report says

The national taxpayer advocate’s first report to the new Congress highlighted the need for money devoted to taxpayer services and technology.

January 7, 2025

A second private-equity company acquires top 20 firm Citrin Cooperman

Blackstone acquires a majority investment made less than three years ago by a fellow private-equity company, the latest in a long line of recent deals involving large accounting firms.

January 6, 2025

FASB seeks input on standard-setting priorities

The board’s first agenda consultation in three years is focused on identifying targeted improvements to GAAP.

January 3, 2025

Alternative methods allowed for identification of digital assets

The IRS provided temporary relief that permits eligible taxpayers to use alternative methods to make adequate identification of digital asset units sold, disposed of, or transferred in 2025.

FROM THIS MONTH'S ISSUE

AI risks CPAs should know

Are you ready for the AI revolution in accounting? This JofA Technology Q&A article explores the top risks CPAs face—from hallucinations to deepfakes—and ways to mitigate them.