The annual list, which began in 2002, lists 12 ways scammers try to gain confidential information from tax professionals or trick taxpayers.
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NEWS
PEEC releases final revised guidance for Sec. 529 plans
The revisions focus on monitoring challenges and independence threats related to an account owner’s financial interest in Sec. 529 plans.
Acting IRS commissioner steps down
The agency’s COO will take over for Douglas O’Donnell, who has worked for the IRS since 1986.
Pathway to 150 hours enters year 2 with positive reviews
The AICPA and NASBA launched the Experience, Learn and Earn program, offered through Tulane University, to provide a simple, cost-effective pathway to 150 credit hours.
The cost of doing business: Pay increases may be muted in 2025
A survey of CFOs and finance leaders across all industries reveals that while most still see value in pay bumps for staff, increases may be slowing.
Thousands of workers in IRS small business division to lose jobs
An email sent to managers on Wednesday said that more than 3,500 probationary workers in the Small Business/Self-Employed division are expected to be notified Thursday that they are no longer employed with the IRS.
March 21 BOI reporting deadline set; further delay possible
A FinCEN alert said it would provide an update before “any further modification” of the reporting deadline, “recognizing that reporting companies may need additional time to comply with their BOI reporting obligations once this update is provided.”
AICPA ethics committee corrects authoritative guidance
The Professional Ethics Executive Committee updated a list of examples related to meeting independence standards when providing recruiting services for attest clients.
Prenuptial agreements: What financial advisers need to know
Putting in writing what happens in the event of divorce is important for high-net-worth clients especially, and with the right approach, these agreements can be created with care and respect.
AICPA urges IRS to meet needs of taxpayers, preparers during filing season
“Americans deserve a fully functioning agency that can be respected by taxpayers and their preparers,” a statement by AICPA CEO Mark Koziel said Sunday as IRS officials plan for cuts in federal workforce.
AICPA, NASBA propose additional path to CPA licensure, individual mobility
Proposed Uniform Accountancy Act changes would support a path featuring a bachelor’s degree and two years of experience, as well as a mobility model necessary to protect the ability of a CPA to practice in multiple states.
BOI reporting deadline extension passes US House
The bill, which provides a deadline of Jan. 1, 2026, for an estimated 32 million small businesses to file beneficial ownership information reports, comes as the BOI requirements are mired in court cases.
Lower auto depreciation limits issued for first time in at least 3 years
The IRS issued the 2025 depreciation limitations for passenger vehicles, including those for which bonus depreciation is applied.
PCAOB withdraws proposed rules requiring extensive firm and engagement metrics
The AICPA had urged the SEC to refrain from approving the rules, warning they would “pose significant challenges” to small and midsize firms. An AICPA statement said that the “PCAOB’s decision not to move forward with the rules is the right one.”
SEC pauses legal defense of its climate-related disclosures rule
The acting SEC chair, who voted against the rule last year, cites “changed circumstances” while calling the rule “deeply flawed.”
Melancon named to Accounting Hall of Fame
Barry Melancon, who retired as CEO of AICPA & CIMA in December, will be one of four inductees into the Accounting Hall of Fame in August.
BOI penalties increase while reporting rules remain on hold
The Financial Crimes Enforcement Network list includes inflation-adjusted amounts for the civil monetary penalties for violating beneficial ownership information reporting rules.
FinCEN hints at BOI reporting changes in court filing
If an injunction is lifted, FinCEN will extend BOI filing deadlines for 30 days and reassess the types of companies required to file beneficial ownership information reports, the government said in its filing in a Texas case.
IRS delays resignation offer for critical tax season workers
IRS employees received an email Wednesday advising them that workers in “critical filing season positions” must work until mid-May.
Report: Undergraduate enrollment in accounting on the rise
The fall semester saw a 12% increase in accounting enrollment from the previous year to the highest figure observed by the National Student Clearinghouse Research Center in four years.
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