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.
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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.
FinCEN postpones anti-money-laundering rule
The Financial Crimes Enforcement Network said Monday that it will revisit the scope of an anti-money-laundering rule that affects small registered investment advisers. It said the effective date was expected to be postponed from Jan. 1, 2026, to Jan. 1, 2028.
Accounting for software: FASB issues improved guidance
The Accounting Standards Update aims to simplify the reporting of internal-use software costs.
NASBA, AICPA release proposed revisions to CPE standards
Comments are being accepted through mid-December on changes designed to address emerging learning methods and clarify CPE-awarding mechanisms.
Private equity and peer review: Proposed change targets consistency
The AICPA’s Peer Review Board is seeking public comment through Oct. 25 on a proposal that would involve the AICPA’s National Peer Review Committee in administration of peer reviews of firms backed by private equity investments and other alternative practice structures.
PEEC releases guidance on attest client association, simultaneous employment
The Professional Ethics Executive Committee guidance in the AICPA Code of Professional Conduct adds a new interpretation that includes a reporting requirement triggered by a member’s intent to accept an attest client’s offer of employment.
IRS finalizes regulations for Roth catch-up contributions under SECURE 2.0
The final regulations are similar to the proposed regulations issued in January, with some changes that the IRS said were made in response to comments.
PEEC seeks feedback on guidance for providing tax services to attest clients
An exposure draft addresses potential threats to independence when members perform tax advisory and tax planning services. The comment deadline is Dec. 15
OMB announces plan to eliminate 60 accounting rules for federal contractors
The White House Office of Management and Budget’s Cost Accounting Standards Board published a final rule and a proposed rule that would eliminate “redundant” requirements.
IRS releases draft form for tip, overtime, car loan, and senior deductions
The IRS on Friday released a draft of Schedule 1-A (Form 1040), a single form that consolidates the calculations of the four temporary deductions for tips, overtime, car loan interest, and seniors that are allowed under H.R. 1.
MAP Survey finds CPA firm starting pay on the rise
Starting salaries increase 17% over two-year period for master’s graduates, 11% for those with a bachelor’s degree.
Skilled for success? Accounting newcomers say yes, managers say no
Employees in their first five years give themselves high ratings on readiness skills, but those who manage new employees don’t see it that way.
IRS warns taxpayers: Social media advice can lead to costly penalties
Misleading posts about credits like the fuel tax credit are landing taxpayers in trouble — with fines up to $5,000 for frivolous returns.
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