Tax, accounting, auditing news - Journal of Accountancy

August 29, 2025

Guidance on research or experimental expenditures under H.R. 1 issued

The revenue procedure advises taxpayers how to make various elections, file amended returns, and change accounting methods as provided under Section 70302 of the new law.

August 29, 2025

PCAOB postpones effective date for new quality control system

The PCAOB announced that QC 1000, A Firm’s System of Quality Control, is set to be effective Dec. 15, 2026, to give firms sufficient time for implementation.

August 28, 2025

Draft 2026 Form W-2 includes boxes and codes for tips and overtime

The IRS said previously that it will not release a new form for 2025, even though the temporary H.R. 1 provisions are effective this year, but it will provide transition relief.

August 27, 2025

Out of office: Employers’ push for more office time meets resistance

While the number of days the average employee is expected to work in the office approaches three, the number of days spent in the office lags behind employer expectations.

August 25, 2025

SEC accepting Professional Accounting Fellow applications

The SEC’s Office of the Chief Accountant is accepting applications for positions that will begin later this year.

August 25, 2025

IRS seeks to fill ‘critical vacancies’ as workforce declines 25%

The IRS has asked some employees who accepted deferred resignation offers if they want to stay on the job.

August 22, 2025

Will budget, staff cuts impede IRS modernization? Former commissioner weighs in

Former IRS Commissioner Danny Werfel says the cuts, combined with the need to reengineer systems for the OBBBA, will make it difficult for the IRS to succeed at improving technology.

August 20, 2025

IRS should be more transparent when communicating phone service metrics, report says

The report by the Treasury Inspector General for Tax Administration called on the IRS to include more phone lines and to cover the entire fiscal year when reporting on its level of service and wait times.

August 20, 2025

Calculating AI’s impact on CPAs: New study quantifies time savings

Researchers determine the real difference that generative AI can have on the average accountant in terms of time spent on routine data entry versus time available for client support and billable hours.

August 18, 2025

Prop. regs. would modify reporting obligations for Form 8308, Part IV

The IRS issued proposed regulations that would modify partnerships’ reporting obligations for Part IV of Form 8308 with respect to sales or exchanges of certain interests in partnerships owning inventory or unrealized receivables.

August 13, 2025

The No. 1 risk to retirement – and one way to guard against it

Retirees are living longer than ever, increasing the challenge facing financial advisers charged with the responsibility of making sure they don’t run out of funds.

August 12, 2025

IRS clarifies that Appeals case memos should be shared with taxpayers upon request

National Taxpayer Advocate Erin Collins wrote Tuesday in her blog that the IRS reminder of the language in the Internal Revenue Manual is a “meaningful step toward transparency.”

August 12, 2025

AICPA unveils new QM resources to help firms meet Dec. 15 deadline

The AICPA updated its SQMS No. 1 practice aid, released a new resource on monitoring and remediation, and is hosting live webcasts to help firms implement the new quality management standards by Dec. 15. Key features of the 2025 practice aid on complying with SQMS No. 1 include expanded discussions, tailored guidance for firms of all sizes, and tools for documentation, evaluation, and effective compliance.

August 12, 2025