Long said Friday on X that he’s leaving the IRS and instead will be nominated to be ambassador to Iceland.
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NEWS
No 2025 information return or withholding table changes under OBBBA
The IRS announced Thursday that it is delaying changes to certain information returns, withholding tables, and reporting and withholding procedures until tax year 2026 “to avoid disruptions.”
AICPA presses IRS for guidance on domestic research costs in OBBBA
In its letter, the AICPA said small businesses that have not filed returns for the 2024 filing period face uncertainty about how to treat domestic research and experimental expenditures.
Date to start filing season not set despite IRS commissioner’s comment
Commissioner Billy Long said last week that the next filing season would start around Presidents Day, but the IRS said Tuesday that it has not set a date.
Wipfli partners with private equity for the latest top 25 firm deal
The already growing firm agrees to a “significant minority investment” from New Mountain Capital, an active player in the growing world of private-equity investment activity among large firms.
IRS includes several AICPA recommendations in corporate AMT interim guidance
In a notice issued Tuesday, the IRS said it intends to partially withdraw proposed regulations and issue revised proposed regulations.
The case for outsourcing: 3 ways to win
While some organizations take a quick glimpse at outsourcing and conclude that it’s not a viable option, those that look closer often unearth alternative uses that can bring value.
FASB updates guidance on measurement of credit losses
The optional guidance aims to address concerns shared by private company shareholders related to the cost and complexity of measuring credit losses for accounts receivable and contract assets.
AICPA supports bill that lets married domestic violence victims file taxes as single
The bill would empower survivors of domestic abuse or spousal abandonment to file taxes without contacting their abuser.
New commissioner confident IRS can implement OBBBA’s tax provisions
Commissioner Billy Long explained his management philosophy at the 2025 Tax Summit of the National Association of Enrolled Agents, where he said IRS employees will be able to implement the OBBBA’s tax provisions.
Dealing with natural disasters: How to avoid fraudulent activities
More than one-third of Americans have been the victim of fraudulent activities after being personally or professionally affected by a natural disaster, according to a Harris Poll conducted on behalf of the AICPA.
IRS staff cuts could put burden on practitioners to explain OBBBA
A retired IRS communications executive told the AICPA’s Town Hall that employees will be challenged to explain tax changes in the massive law.
IRS advises of Tuesday deadline to maintain Business Tax Account access
The IRS warned that those who do not revalidate accounts by Tuesday will need to request access to the account again, either as a designated official or other user type.
Dealing with natural disasters: IRS relief efforts leave some wanting
How can the IRS best assist victims of natural disasters? The AICPA asked victims how long they had to wait for assistance and asked CPAs the best courses of action.
PCAOB chair to resign
Erica Williams, who had held the position since 2022, is being replaced on an interim basis by George Botic.
FinCEN says it will postpone effective date of 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.
Dealing with natural disasters: Prepare by taking these steps today
Nearly one-third of adults have done nothing to prepare financially for the possibility of a natural disaster. An AICPA news release offers advice for individuals and businesses.
US House passes stablecoin regulatory framework
Already approved by the Senate and on its way to the president for signature, the GENIUS Act will require stablecoin issuers to undergo a monthly examination of disclosures. Larger issuers also will be subject to an annual audit.
Overworked or overwhelmed? The two sides of technology
Productivity is lacking in the workplace, according to a Microsoft survey, with technology posing both as the problem and the solution.
Hard truth about soft skills: Invaluable insights for financial advisers
Personal financial advisers share perspective on creating a safe space where clients feel comfortable about sharing information crucial to a successful professional partnership.
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