The AICPA’s updated digital assets practice aid addresses the most recent developments in an evolving area.
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NEWS
Taxpayers can now access IRS compliance report online
A new IRS Individual Online Account feature lets taxpayers download a digitally authenticated compliance report for use when applying for jobs, loans, government benefits, and other services.
AICPA supports disaster tax bill, presses for permanent relief
The bill, which awaits the president’s signature, would make disaster tax relief rules easier to find and more predictable by adding them to the Internal Revenue Code, a change the AICPA says should be made permanent.
Proposed rules would restrict Trump account eligible investments
The IRS proposed regulations that would limit Trump account investments to low-fee stock index funds and ETFs during the growth period.
IRS shifts approach to conservation easement disputes
The agency said it has ended its latest conservation easement settlement initiative and is creating a new office to coordinate strategy for such cases.
FASB proposal addresses whether certain digital assets are cash equivalents
FASB is seeking feedback on a proposal that aims to answer stakeholder uncertainty about how the definition of cash equivalents applies to stablecoins and other digital assets.
Pets influence Americans’ financial decisions, AICPA survey finds
Dogs and cats are more than pets for many Americans, who consider the animals family members. An AICPA survey found that pet owners often budget for their animals, prioritize pet spending, and include pets in estate planning.
SEC proposal aims to clarify securities rules for crypto assets
The framework proposed Tuesday includes two exemptions from the registration requirements of the Securities Act of 1933. The proposed rules will be open for public comment for 60 days.
PEEC adopts revised definition of ‘attest engagement team’
The change, effective Dec. 15, clarifies for practitioners who is and is not part of an attest engagement team when applying AICPA Code of Professional Conduct independence requirements.
4 Medicare rules that surprise clients — and some advisers
Clients may be automatically enrolled in Medicare before they’re ready and may incur penalties that last a lifetime by passing on a supplemental plan they don’t yet need. Also, learn why the best monthly price and the best bargain aren’t always the same thing.
IRS provides guidance on rollovers between retirement plans and IRAs
Use of the sample forms and proposed rollover procedures in the guidance is optional for plan sponsors.
IRS staffing cuts delayed paper returns and refunds, report says
For most taxpayers, the 2026 filing season was normal, a government report says. Those who filed paper returns or relied on paper refund checks faced delays because of a smaller IRS workforce and technology problems.
Final rule will eliminate BOI reporting for US entities
Treasury said a final rule will permanently end beneficial ownership information reporting requirements for U.S. companies and U.S. persons under the Corporate Transparency Act.
Trump account prop. regs. clarify $2,500 limit for workers
The proposed regulations, which the IRS said would affect millions of children, families, and employers, also address self-employed owners, Sec. 125 cafeteria-plan contributions, and employer matching of the government’s $1,000 pilot-program contribution.
Final regs. issued for Sec. 3406 backup withholding rules
Final IRS regulations reflect changes made by the OBBBA to rules governing backup withholding on third-party network transactions under Sec. 3406.
4 Social Security rules that surprise clients — and some advisers
A divorced spouse may qualify for benefits based on their ex’s work record. A surviving spouse may qualify before age 62. And some families may be eligible for benefits related to their children.
IRS updates overtime deduction FAQs, adds reporting details
Workers generally may claim the overtime pay deduction only for amounts reported on Form W-2, Wage and Tax Statement, beginning in tax year 2026, according to updated IRS FAQs. The IRS also clarified that the deduction does not make overtime pay exempt from gross income.
PEEC to continue discussions on alternative practice structures
The AICPA’s Professional Ethics Executive Committee will revisit in October proposed revisions to the AICPA Code of Professional Conduct related to firm independence and alternative practice structures.
IRS adds notices, payment features to business tax accounts
Eligible businesses and organizations can now view more digital notices, make payments on installment agreements, and obtain EIN verification documents online.
IRS guidance addresses expanded paid family and medical leave credit
The guidance explains how employers can claim the expanded credit for paid family and medical leave beginning in 2026 using a premium-based method.
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