Tax, accounting, auditing news - Journal of Accountancy

June 12, 2025

Senate confirms Billy Long as IRS commissioner

The former Missouri congressman is the sixth head of the IRS since January. He was confirmed by a vote of 53-44.

June 12, 2025

What some state CPA leaders are saying about PTET SALT deduction

CPA societies from 53 states and jurisdictions have backed the AICPA in the PTET SALT deduction effort. On Thursday, five state CPA leaders explained more about why they want the deduction preserved.

June 12, 2025

AICPA proposes controls framework for stablecoin issuers

The Assurance Services Executive Committee is seeking public comments on an exposure draft designed to ensure an effective system of controls is in place in connection with recently issued reporting guidelines focused on stablecoins.

June 11, 2025

Appeals court leaves tariffs in place, seeks expedited argument schedule

A federal appeals court extended its stay of a nationwide injunction on tariffs imposed by a trade court and proposed a schedule that would include oral arguments on July 31 in the challenge to the president’s authority.

June 10, 2025

Insights from ENGAGE: CPAs get a crash course in communication

From conducting an effective meeting to determining whether a team meeting is even the best format, a finance leader speaking at AICPA & CIMA ENGAGE 25 helps CPAs streamline their daily interactions.

June 10, 2025

Top scorers on CPA Exam earn Elijah Watt Sells Award

The AICPA named 11 CPA candidates as recipients of the 2024 Elijah Watt Sells Award, which recognizes outstanding performance on the CPA Exam.

June 9, 2025

Automatic accounting method changes list updated by IRS

On Monday, the IRS provided a list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13 apply. The list includes 17 changes described as significant.

June 9, 2025

IRS budget request cuts 20% of employees in 2026, increases phone help

Treasury released the Congressional Budget Justification, which also would cut the IRS budget by 37% from the fiscal year 2025 operating plan to the fiscal year 2026 request.

June 9, 2025

ENGAGE road trip: Simple directions for a smooth AI journey

On the surface, the number of sessions at AICPA & CIMA ENGAGE 25 that touch on artificial intelligence might seem intimidating to AI newcomers, but an AI workshop instructor explains why getting started is easier than you think.

June 6, 2025

53 CPA societies back AICPA in PTET SALT deduction effort

A letter from the AICPA and CPA societies in 53 states and jurisdictions criticizes the provision in the House version of the budget bill that would eliminate the state and local tax deduction for certain passthrough entities.

June 5, 2025

PEEC exposure draft seeks to clarify requirements for SSAE engagements

PEEC released for comment proposed changes to the AICPA Code of Professional Conduct related to engagements subject to the AICPA Statements on Standards for Attestation Engagements.

June 5, 2025

Economic optimism slides again amid tariff uncertainty

CPA leaders’ optimism declined sharply in the second quarter, as tariff concerns mount and businesses pivot their strategies to accommodate shifting requirements, according to a new AICPA survey.

June 4, 2025

AICPA publishes additional resources in push to preserve PTET SALT deduction

The passthrough entity tax/state and local tax deduction remains a priority for the AICPA. The budget bill now being considered by the Senate does not allow certain service-based businesses to deduct state and local taxes.

June 3, 2025

Simplified method to determine corporate AMT applicable status issued

A notice issued by the IRS with interim guidance for the application of the corporate alternative minimum tax offers an optional simplified method for determining applicable corporation status under Sec. 59(k).

June 2, 2025

Report card: Student interest in accounting shows marked improvement

Buoyed by a spike at two-year institutions, undergraduate enrollment in accounting programs is up 12% from the spring of 2024.

May 29, 2025

Tariffs back in force after appeals court ruling

A federal appeals court temporarily restored President Donald Trump’s power to impose tariffs. The Thursday ruling followed a district court’s nationwide injunction Wednesday curtailing that authority.

May 27, 2025

IRS hotline questions resolved faster in 2025; concern grows about agency’s future

An annual survey of AICPA members about IRS service showed the majority of respondents are concerned that political distractions will affect agency funding and administration in the future.

May 27, 2025

What leaders need to know about a growing group of employees

As Gen Zs and Millennials begin to become a bigger majority in the workforce, a new survey provides insights into what motivates them to switch jobs and what motivates them to stay.

May 22, 2025

AICPA recommends changes to prop. regs. on PTEP, related basis adjustments

The recommendations, sent Tuesday in a letter to Treasury and the IRS, include that the IRS expressly allow taxpayers to rely on proposed regulations until they are final.

May 22, 2025

House passes budget reconciliation bill with changes to tax provisions

Early Thursday morning, the House of Representatives passed the One Big Beautiful Bill Act by one vote. The bill had been amended by the Rules Committee, and it now goes to the Senate for consideration.