Tax, accounting, auditing news - Journal of Accountancy

April 7, 2025

Retirement snapshot: 3 things to know about the average pre-retiree

Workers dreaming about the day they will retire reveal what circumstances they daydream about and what nightmares they hope to avoid while continuing to redefine what it means to retire in America.

April 4, 2025

IRS: 7,000 probationary workers will return to their jobs in next 10 days

“I’m just riding the government roller coaster,” says one worker, who lost her job in February, was placed on administrative leave in March, and plans to return to work later this month.

April 2, 2025

Bills dealing with tax administration, disaster victims pass House

The AICPA endorsed four of the six bills, all of which passed with bipartisan support and were forwarded to the Senate.

March 28, 2025

SEC ends legal defense of its climate rules

After a vote Thursday, the acting chair of the SEC described The Enhancement and Standardization of Climate-Related Disclosures for Investors as “unnecessarily intrusive.”

March 27, 2025

As time runs out for pandemic-era ERC, IRS adds 5 FAQs

The FAQs, which deal mainly with how to handle the employee retention credit on tax returns under various scenarios, are not authoritative but do provide some answers to questions about the expiration of the statute of limitation, an AICPA & CIMA tax practice and ethics manager said.

March 27, 2025

BOI reporting changes don’t affect CTA’s constitutionality, filing says

In a brief filed in the Eleventh Circuit, the federal government said the move to remove the beneficial ownership filing requirement for domestic companies does not affect the constitutionality of the Corporate Transparency Act.

March 26, 2025

AICPA, CalCPA jointly call for clarity regarding California climate rule

The organizations, on behalf of CPAs, responded to a request for feedback from the California Air Resources Board with recommendations related to guidance on the reporting and assurance requirements of recent legislation.

March 26, 2025

Amendment clarifies CPAs’ financial statement preparation engagements

The AICPA Accounting and Review Services Committee approved an update to SSARS No. 21, clarifying that practitioners are not required to apply AR-C Section 70 when financial statements are prepared as part of a consulting engagement. The practical implication is that the engagement would not be required to be subjected to quality management standards or peer review.

March 26, 2025