AICPA Advocacy

TOPICS

January 10, 2025

Plaintiffs ask Supreme Court to reject DOJ’s BOI request

In response to the Justice Department’s application for a stay of a district court injunction related to beneficial ownership information reporting, the plaintiffs claim that staying the injunction would harm reporting companies more than it would help the government.

January 9, 2025

AICPA tax policy and advocacy successes: 2024 highlights

It’s worth pausing to reflect on the AICPA’s successes in advocating for the profession with Congress and the IRS during 2024.

December 23, 2024

Injunction lifted; FinCEN extends most BOI deadlines to Jan. 13

The Fifth Circuit Court of Appeals on Monday granted a Justice Department motion to lift an injunction imposed by a district court ruling. Hours later, FinCEN announced, in light of the court decision, that the Jan. 1, 2025, reporting deadline was extended to Jan. 13 for most reporting companies.

December 20, 2024

Extension to BOI reporting deadline removed from budget bill

Congress did not include a delay to the beneficial ownership information reporting requirement in its government funding bill. The AICPA has been advocating for a delay.

December 20, 2024

AICPA asks SEC to reject PCAOB rules that pose ‘significant challenges’

A comment letter sent Thursday urges the SEC, which oversees the PCAOB, to “refrain from approving” final rules issued last month that call for certain PCAOB-registered public accounting firms to report on a list of firm and engagement metrics.

December 16, 2024

PEEC issues recruiting guidance, exposure draft on simultaneous employment

The Professional Ethics Executive Committee’s guidance is related to recruiting services for attest clients, and the exposure draft includes a new definition and interpretation of simultaneous employment or association.

December 11, 2024

FinCEN: Companies can voluntarily file BOI reports during injunction

The Financial Crimes Enforcement Network said in an alert, however, that reporting companies do not have to file beneficial ownership information reports while a preliminary injunction is in effect.

December 9, 2024

New guide clarifies accounting and valuation of business combinations

AICPA publication offers best practices for professionals working in accordance with a set of FASB standards related to accounting and valuations in mergers and acquisitions.

November 21, 2024

2025 tax preview: Perspective from an AICPA tax policy advocate

An AICPA tax leader explains advocacy efforts related to beneficial ownership information reporting and discusses the potential extension of the Tax Cuts and Jobs Act. Listen to the episode or read the Q&A.

November 18, 2024

Education program expands to welcome more CPA licensure candidates

The Experience, Learn and Earn program now offers an affordable path to 150 credit hours to a larger group of accounting graduates.

FROM THIS MONTH'S ISSUE

Cannabis dispensary denied ERC

The Court of Federal Claims held that Sec. 280E, which prohibits deductions and credits for businesses trafficking in controlled substances, applies to the employee retention credit (ERC), including its refundable portion, and denied a cannabis business’s claim for a refundable ERC.