The final regulations, which include 24 exceptions to consideration of federal tax controversies by the Independent Office of Appeals, generally follow the proposed regulations issued in October 2022.
Advertisement
NEWS
IRS testing changes to alternative dispute resolution programs
New pilot programs involve fast-track settlements and post-appeals mediation.
Prop. regs. address expanded annual compensation deduction limitation
The regulations provide guidance on determining who is one of the “five highest compensated employees” under Sec. 162(m)(3)(C).
Economic optimism rises among CFOs
Almost three-fourths of CFOs in a Deloitte survey think the economy will improve over the next year. That sentiment, among finance leaders at companies with more than $1 billion in annual revenue, is up sharply from the previous quarter.
Prop. regs. issued for spinoff transactions and their reporting
The IRS said it used feedback from tax advisers to write the proposed regulations, which include new multiyear tax reporting requirements.
Update: Digital assets practice aid addresses new FASB standards
The AICPA resource features new guidance and terminology for financial statement preparers and auditors.
Regs. identify microcaptive transactions as reportable transactions
The final regulations, posted by the IRS on Tuesday in the Federal Register, identify certain microcaptive transactions as reportable listed transactions or transactions of interest.
Prop. regs. address 401(k), 403(b) automatic enrollment requirement
The proposed regulations provide guidance to plan administrators on implementing the automatic enrollment requirement established by the Secure 2.0 Act.
Who cares? Companies that care are better positioned with talent
Most employees don’t think their employers prioritize their well-being, creating an opportunity for companies that cultivate a culture of caring.
DOL’s ‘retirement security rule’ runs into obstacles
The U.S. Department of Labor’s recent effort to impose new requirements on financial professionals providing retirement investment advice faces doubtful prospects because of court challenges and the change in presidential administration.
Plaintiffs ask Supreme Court to reject DOJ’s BOI request
In response to the Justice Department’s application for a stay of a district court injunction related to beneficial ownership information reporting, the plaintiffs claim that staying the injunction would harm reporting companies more than it would help the government.
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.
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.
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.
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.
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.
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.
FASB seeks input on standard-setting priorities
The board’s first agenda consultation in three years is focused on identifying targeted improvements to GAAP.
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.
Appeals court reinstates injunction that halts BOI enforcement
Three days after a panel of judges granted a government motion to lift the injunction, another panel said it was reinstating a lower court’s ruling. An AICPA statement urged CPAs to be prepared to file BOI reports. A statement by the Financial Crimes Enforcement Network said that, in light of the court ruling, companies could continue to file BOI reports voluntarily and that they are “not subject to liability if they fail to do so while the order remains in force.”
Features
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.
From The Tax Adviser
January 31, 2026
Trust distributions in kind and the Sec. 643(e)(3) election
January 31, 2026
Effects of the OBBBA on higher education
December 31, 2025
