FASB published a proposed Accounting Standards Update that is intended to improve the requirements for identifying the accounting acquirer in a business combination.
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IRS to end automatic penalties for late filing of foreign gift, bequest forms
National Taxpayer Advocate Erin Collins discussed the changes in a recent blog post. The changes have been long advocated by the AICPA.
Accounting for software: FASB proposes amendments to its guidance
The Financial Accounting Standards Board seeks public comment on targeted improvements to the reporting of internal-use software.
How students use — and don’t use — ChatGPT
A study involving 390 students suggests a preference for using ChatGPT as a supplement to traditional resources, such as class notes and textbooks, to complete accounting assignments.
Shorter supply chains: US companies set sights on the Americas
Most senior executives are pleased by the impact of moving their supply chains closer to home, according to a KPMG report. Learn four keys to considering whether a change would benefit your company.
Annual inflation adjustments announced for tax year 2025
The IRS on Tuesday provided its annual inflation adjustments for over 60 tax provisions in tax year 2025, including increases in the standard deduction for married couples and single individuals.
New fellowship honoring Melancon will support doctoral students
Barry C. Melancon Professional Accounting Research (PAR) Fellowship recognizes the legacy of the retiring CEO and will support research in public and management accounting.
GASB provides guidance for certain capital assets
GASB issued guidance for certain types of capital assets to be disclosed separately for purposes of note disclosures.
How firms can score the right talent mix
Want to build an employee roster that hits all the right notes? These 3 tips are key.
Public sector talent shortage: Unique challenges require unique solutions
Serious concerns facing accounting in the government space can be solved only by a multistakeholder commitment to improved conditions, an AICPA/NASACT report finds.
Mark Koziel to become CEO of the Association of International Certified Professional Accountants
Mark Koziel, CPA, CGMA, has been named as the next CEO for the Association of International Certified Professional Accountants. Koziel will begin the role in January 2025. He currently leads Allinial Global, an association of independent accounting and advisory firms with $6 billion in collective revenue.
IRS processing 400K ERC claims with about $10 billion in eligibility
Commissioner Danny Werfel says the IRS has made “substantial progress” in separating eligible claims from ineligible ones.
FinCEN offers storm and terrorist attack relief for FBAR filings
The Financial Crimes Enforcement Network extended filing deadlines for reports of foreign bank and financial accounts (FBAR) for people in federally declared disaster areas of five storms. It also is delaying the filing deadline for people affected by terrorist attacks in Israel.
Social Security wage base announced for 2025
The Social Security Administration announced an increased maximum amount of wages subject to Social Security tax in 2025. The cost-of-living adjustment for Social Security benefits for 2024 is slightly lower than last year’s COLA.
Intangible property repatriation rules finalized
The regulations terminate the continued application of the Sec. 367(d) annual inclusion in certain cases when intangible property is repatriated to the United States after previously being transferred to a foreign corporation.
TIGTA says IRS should review $42 billion in ERC claims
The Treasury Inspector General for Tax Administration estimated that a change in policy for pre-refund examinations resulted in payment of $2 billion in erroneous employee retention credit claims.
AI promises more efficiency but won’t replace auditors
The 2024 BDO Audit Innovation Survey found that 54% of leaders expect their audit firm to use artificial intelligence and other advanced technologies to enhance the audit experience, but the human element is irreplaceable.
Final regs. target syndicated conservation easement transactions
The IRS issued the final regulations identifying these abusive transactions and substantially similar ones as listed transactions that must be reported to the agency.
‘Majority moves’ in tech: Finance leaders reveal popular practices
Finance leaders are increasingly being asked to devise plans that use new technologies to improve the bottom line. Recent survey results highlight the most common approaches leaders are taking.
IRS provides Helene relief; AICPA seeks BOI, FBAR filing extensions
The IRS said it was providing disaster relief for individuals and businesses in all or part of seven states. Also, the AICPA sent a letter to FinCEN seeking extensions for BOI and FBAR reports that match the relief that the IRS provides for other filings, both in terms of the extended due dates and geographic scope.
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From The Tax Adviser
September 30, 2026
Navigating the QSBS rules in pass-through structures
September 30, 2026
Sec. 338(h)(10) elections in business acquisitions
August 31, 2026
