IRS Proposes New Backup Withholding Rules for Third-Party Network Transactions
The IRS has issued proposed regulations that would update backup withholding rules for third-party network transactions. These changes reflect recent …
Thomson Reuters Tax & Accounting News
IRS Should Automate Extension Process for Disaster Victims, Says AICPA
The American Institute of CPAs (AICPA) urged the IRS to automate its process for granting extensions for taxpayers to replace …
CFPB Issues Advisory Opinion Clarifying Earned Wage Access Is Not Credit Under TILA
Consumer Financial Protection Bureau Acting Director Russell Vought announced on December 23, 2025, that “Covered EWA” products—employer-partnered earned wage access plans that …
9th Circuit Denies Rehearing in Trump Mass Layoff Suit
The full 9th U.S. Circuit Court of Appeals has declined to rehear a panel decision that allows a lower court …
Disaster Tax Relief Bill Signed Into Law
Over the holidays, President Trump signed a popular measure that provides administrative relief for victims of federally declared disasters. Disaster …
New Jersey Adopts Additional Amendments to Film and Digital Tax Credit Regulations
By David Engel CPA, Checkpoint News The New Jersey Economic Development Agency (NJEDA) has adopted additional amendments to the film …
CPAs Renew Call for Lower S Corp PLR Request User Fees
The American Institute of Certified Public Accountants (AICPA) is renewing its call for the IRS and Treasury Department to establish …
SEC Left Without Democratic Commissioners After Crenshaw’s Departure
Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw left the agency on January 2, 2026, after the Senate Banking Committee …
D.C. Enacts Temporary Legislation Amending Conformity with Various IRC Provisions, Other Tax Changes
By Denis Del Bene, JD, LL.M., Checkpoint News On December 20, 2025, the District of Columbia enacted without the Mayor’s …
Experts Talk State Tax Issues, OBBB Conformity
Experts from Ernst & Young LLP (EY) hosted their final domestic tax quarterly webcast for 2025 on December 17, providing …
$10B in New Markets Tax Credit Allocations Announced
Treasury and the Community Development Financial Institutions (CDFI) Fund announced $10 billion in New Markets Tax Credit allocations last week. …
Administration’s Shift on Cannabis Draws Criticisms From Some Republicans
As President Trump took steps to move cannabis to a less stringent classification under the Controlled Substances Act, several Senate …
Senators Push for End to IRS Hiring Freeze Ahead of Filing Season
Lawmakers are calling on Treasury Secretary and acting IRS Commissioner Scott Bessent to ramp up IRS and Taxpayer Advocate Service …