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.
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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.
AICPA names new FinREC chairman
The AICPA named Grant Thornton partner Rahul Gupta as chairman of FinREC. Gupta succeeds Mark Crowley, a managing partner at Deloitte.
Reconciliation bill clears committee on second try
Sunday revote came after Republican fiscal hawks initially joined Democrats to sink the bill, which includes tax provisions approved by the House Ways and Means Committee last week.
Ways and Means approves proposed TCJA extensions and tax changes
The bill would make key portions of the TCJA permanent and create a new “senior bonus” deduction, among its many provisions. An AICPA statement said it is “deeply troubled” by the plan to curtail use of passthroughs to avoid SALT cap. The bill now heads to the House Budget Committee.
IRS reduces user fee for estate tax closing letters
The receipt of an estate tax closing letter generally indicates that the estate tax return’s IRS examination is closed. Final and proposed regulations lowered the fee by $11.
FASB updates guidance on share-based consideration
The Accounting Standards Update addresses share-based consideration payable to a customer in conjunction with selling goods or services.
AICPA endorses some Ways and Means tax provisions, signals concern for others
One item is a “longstanding priority for the AICPA and the tax profession,” a news release said. The AICPA cited the “potential detrimental impact” of other provisions.
AICPA gives Gold Medal Award of Distinction to Mintzer
Andrew Mintzer, CPA, a firm leader in Los Angeles, was presented with the highest honor granted by the organization.
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