Know How the OBBBA Will Impact You Long-Term, Tax Pro Advises
Jennifer Acuna, principal in KPMG’s Washington National Tax practice, stressed that proactive planning is essential for navigating the complexities of …
Thomson Reuters Tax & Accounting News
Valuation Missteps in Gifts and Compensation Draw Sharper IRS Scrutiny, Experts Warn
The IRS requires property transferred by gift or to charity to be reported at fair market value (FMV)—generally, “the price …
US GAAP Undergoes ‘Evergreen’ Refresh, Aiming to Simplify Financial Reporting for Businesses
Companies will operate under clearer accounting guidance within the next two years, as the Financial Accounting Standards Board (FASB) on …
11th Circuit Upholds Corporate Transparency Act
In a major reversal, the U.S. Court of Appeals for the 11th Circuit has upheld the constitutionality of the Corporate …
What Federal Mandates Apply to Our Company’s Group Health Plan Other Than ERISA, COBRA, and HIPAA?
QUESTION: We understand that ERISA, COBRA, and HIPAA apply to our company’s group health plan, but should we consider any …
Tax Credit Experts Urge Businesses to Model Strategies, Risks Now
Baker Tilly experts outlined key tax strategies for individuals and businesses navigating changes enacted by the One Big Beautiful Bill …
IRS Finalizes Regs on Tribal Entity Tax Status, General Welfare Benefits
The IRS has issued two sets of final regs addressing the federal tax treatment of entities wholly owned by Indian …
What OBBB Means for Your Clients’ Itemized Deductions
By Hilari Pickett, CPA, a Senior Specialist Editor with Thomson Reuters Tax & Accounting The 2025 Act (also referred to …
House Committee Advances Additional Tax Administration Measures
The House Ways and Means Committee advanced two tax administration bills Wednesday evening aimed at improving the taxpayer experience. One …
Dems Press Treasury on Retroactive R&E Expensing ‘Loophole’
Nine congressional Democrats urged Treasury leaders not to establish a Corporate Alternative Minimum Tax carveout for companies that accelerate their …
IRS Guidance on Trump Accounts Addresses Cafeteria Plans and Employer Contributions, Announces Regulations on the Way
IRS Notice 2025-68 (Dec. 2, 2025); IRS News Release IR-2025-117 (Dec. 2, 2025) Notice News Release The IRS has announced …
Tax Experts on OBBBA Changes to Opportunity Zones
Recent Baker Tilly year-end tax webinars highlighted sweeping changes to the Opportunity Zone program under the One Big Beautiful Bill …
SEC Chief Accountant Unveils Ambitious Agenda for Audit Oversight, Standard Setting
At a year-end AICPA conference, Securities and Exchange Commission (SEC) Chief Accountant Kurt Hohl outlined an ambitious agenda for accounting …