Real estate and facilities management is the category most likely to face budget cuts, a Gartner survey shows. IT is the most common CFO choice for planned spending increases.
Advertisement
NEWS
Key tax provisions in the Senate reconciliation bill
The Inflation Reduction Act passed by the Senate on Sunday includes many tax items, some designed to raise revenue and others to promote various clean energy initiatives.
National taxpayer advocate appeals IRS response on scanning tech
National Taxpayer Advocate Erin Collins escalated her push for the IRS to adopt barcode scanning of paper tax returns, but the IRS would commit only to a goal of scanning certain 2022 returns.
Regulations streamline partnership basis elections
Final regulations issued by the IRS and Treasury allow a Sec. 754 election statement to be submitted without a partner’s signature.
IAASB issues new FAQs for reporting going concern matters
The IAASB has issued a nonauthoritative publication to address some of the common questions related to reporting going concern matters in the auditor’s report.
3 strategic uses for Roth IRAs beyond retirement
A Roth IRA can serve as a backup vehicle for pursuing multiple savings goals.
More companies obtaining ESG assurance, according to global survey
The percentage of companies worldwide providing assurance on ESG reporting increased between 2019 and 2020, but are auditors getting their share of the work?
CHIPS and Science Act with semiconductor tax credit passes Congress
The bill now goes to President Joe Biden, who has said he will sign it into law.
PCAOB, SEC chairs look to strengthen oversight of auditing practices
The Sarbanes-Oxley Act created the PCAOB in 2002 to oversee public company audits. Twenty years later, the PCAOB — backed by the SEC — is emphasizing inspection and enforcement as ways to strengthen investor protections.
What’s new in SAS No. 145: Enhanced definitions mean stronger audits
Don’t delay. Understand SAS No. 145, from the AICPA Auditing Standards Board (ASB), and be ready.
Senate deal paves way to reconciliation bill with tax provisions
A federal budget reconciliation bill with tax provisions, including a 15% corporate minimum tax and a variety of tax credits, took a step closer to reality with Sen. Joe Manchin’s agreement to the package’s contents.
Some balance-due notices on joint returns issued in error, IRS says
Payments made by the second-listed spouse on a joint return for 2021 under certain conditions may not have been properly credited by the IRS.
Senate passes CHIPS Act with semiconductor tax credit
The bill’s semiconductor production incentives would include a new 25% investment credit.
AICPA & CIMA comment on ISSB drafts of sustainability disclosures
A comment letter applauds efforts to develop global standards for disclosing sustainability information and provide suggestions related to the two exposure drafts.
Business leaders may consider cuts to M&A, ESG budgets
If economic challenges continue, a survey finds that mergers and acquisitions could be the first area that CFOs and CEOs target for budget cuts, followed by environmental, social, and governance.
IRS seeks transformation in new 5-year plan
The IRS’s fiscal 2022–26 Strategic Plan sets out goals to modernize its operations and interactions with taxpayers while adapting to new challenges and threats.
FASB proposes changes to transition requirements in insurance guidance
FASB issued a proposed Accounting Standards Update (ASU) that would amend transition guidance in an update from 2018 for long-term insurance contracts that have been derecognized because of a sale or disposal of individual or a group of contracts or legal entities before the effective date.
What new managers wish they’d known
CPAs offer advice to help leaders as they begin their management roles.
Pandemic-paused IRS return preparer visits could resume by video
The U.S. GAO recommended that the IRS pilot videoconferencing for its program singling out “high-risk” return preparers for direct compliance checks and education with respect to refundable tax credits and other taxpayer tax benefits.
Congressional Democrats faced with ticking clock on reconciliation package
Negotiations on a reconciliation bill — a successor to the Build Back Better proposal — continue in Congress. But negotiators face a Sept. 30 deadline to get the bill passed.
Features
SPONSORED REPORT
Get your clients ready for tax season
Help clients avoid surprises with year-end planning strategies for managing taxable income, maximizing deductions, and adjusting to OBBBA changes affecting individuals and businesses.
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
