CPA societies from 53 states and jurisdictions have backed the AICPA in the PTET SALT deduction effort. On Thursday, five state CPA leaders explained more about why they want the deduction preserved.
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AICPA proposes controls framework for stablecoin issuers
The Assurance Services Executive Committee is seeking public comments on an exposure draft designed to ensure an effective system of controls is in place in connection with recently issued reporting guidelines focused on stablecoins.
Appeals court leaves tariffs in place, seeks expedited argument schedule
A federal appeals court extended its stay of a nationwide injunction on tariffs imposed by a trade court and proposed a schedule that would include oral arguments on July 31 in the challenge to the president’s authority.
Insights from ENGAGE: CPAs get a crash course in communication
From conducting an effective meeting to determining whether a team meeting is even the best format, a finance leader speaking at AICPA & CIMA ENGAGE 25 helps CPAs streamline their daily interactions.
Top scorers on CPA Exam earn Elijah Watt Sells Award
The AICPA named 11 CPA candidates as recipients of the 2024 Elijah Watt Sells Award, which recognizes outstanding performance on the CPA Exam.
Automatic accounting method changes list updated by IRS
On Monday, the IRS provided a list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13 apply. The list includes 17 changes described as significant.
IRS budget request cuts 20% of employees in 2026, increases phone help
Treasury released the Congressional Budget Justification, which also would cut the IRS budget by 37% from the fiscal year 2025 operating plan to the fiscal year 2026 request.
ENGAGE road trip: Simple directions for a smooth AI journey
On the surface, the number of sessions at AICPA & CIMA ENGAGE 25 that touch on artificial intelligence might seem intimidating to AI newcomers, but an AI workshop instructor explains why getting started is easier than you think.
53 CPA societies back AICPA in PTET SALT deduction effort
A letter from the AICPA and CPA societies in 53 states and jurisdictions criticizes the provision in the House version of the budget bill that would eliminate the state and local tax deduction for certain passthrough entities.
PEEC exposure draft seeks to clarify requirements for SSAE engagements
PEEC released for comment proposed changes to the AICPA Code of Professional Conduct related to engagements subject to the AICPA Statements on Standards for Attestation Engagements.
Economic optimism slides again amid tariff uncertainty
CPA leaders’ optimism declined sharply in the second quarter, as tariff concerns mount and businesses pivot their strategies to accommodate shifting requirements, according to a new AICPA survey.
AICPA publishes additional resources in push to preserve PTET SALT deduction
The passthrough entity tax/state and local tax deduction remains a priority for the AICPA. The budget bill now being considered by the Senate does not allow certain service-based businesses to deduct state and local taxes.
Simplified method to determine corporate AMT applicable status issued
A notice issued by the IRS with interim guidance for the application of the corporate alternative minimum tax offers an optional simplified method for determining applicable corporation status under Sec. 59(k).
Report card: Student interest in accounting shows marked improvement
Buoyed by a spike at two-year institutions, undergraduate enrollment in accounting programs is up 12% from the spring of 2024.
Tariffs back in force after appeals court ruling
A federal appeals court temporarily restored President Donald Trump’s power to impose tariffs. The Thursday ruling followed a district court’s nationwide injunction Wednesday curtailing that authority.
IRS hotline questions resolved faster in 2025; concern grows about agency’s future
An annual survey of AICPA members about IRS service showed the majority of respondents are concerned that political distractions will affect agency funding and administration in the future.
What leaders need to know about a growing group of employees
As Gen Zs and Millennials begin to become a bigger majority in the workforce, a new survey provides insights into what motivates them to switch jobs and what motivates them to stay.
AICPA recommends changes to prop. regs. on PTEP, related basis adjustments
The recommendations, sent Tuesday in a letter to Treasury and the IRS, include that the IRS expressly allow taxpayers to rely on proposed regulations until they are final.
House passes budget reconciliation bill with changes to tax provisions
Early Thursday morning, the House of Representatives passed the One Big Beautiful Bill Act by one vote. The bill had been amended by the Rules Committee, and it now goes to the Senate for consideration.
AICPA: Contingent fee provision in tax bill would help unscrupulous tax preparers
In a letter to congressional committee leaders, the AICPA said Congress should strike language from the tax bill that bars Treasury from regulating contingent fees.
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