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Congress passes act allowing tax relief when a state declares disaster

A bill supported by the AICPA is “a major win for taxpayers and tax practitioners,” according to a statement by President and CEO Mark Koziel. The bill, which now heads to President Donald Trump for his signature, is intended to speed up the granting of tax deadline extensions after a disaster.

Tax provisions in the One Big Beautiful Bill Act

The bill extends portions of the Tax Cuts and Jobs Act, provides deductions to eliminate income taxes on certain tips and overtime pay, and addresses other tax priorities of the Trump administration.

SEC names new chief accountant

Kurt Hohl, CPA, is set to begin the role with the SEC in early July. He replaces Paul Munter, who left the job in January.

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Building a better CPA firm: Stepping up service offerings

A key step in business model modernization is determining how to implement services that satisfy clients and employees.