Pushback Against Trump Plan to End IRS Direct File
Editor’s Note, 4/18/2025: Article updated with additional quote from Economic Security Project. Lawmakers and tax policy organization officials sounded off …
Thomson Reuters Tax & Accounting News
New SEC Leadership Will Likely Exempt More Companies From Section 404(b)
While not explicitly saying at what size a public company should begin to have its external auditor attest to management’s …
Tax Pros Talk IRS Modernization Setbacks Due to Workforce, Funding Cuts
Former government officials, practitioners, and tax law and policy experts are in lockstep with their collective worries about the ramifications …
IRS Drops 9 ‘Unnecessary’ Guidance Items; Treasury Scraps Financial Regs
As part of the Trump administration’s government-wide push for deregulation and smaller overall workforce, the IRS and the Treasury Department …
Alabama Establishes Portable Benefit Accounts for Independent Contractors
By Denis Del Bene Alabama has enacted legislation providing for the establishment of portable benefit accounts for independent contractors and, …
Micro-Captive Transaction Reporting Penalty Relief Issued
Material advisors and certain participants in reportable micro-captive transactions will not face penalties for failing to file disclosure statements originally …
IRS Urges Taxpayers to File, Pay, or Request Extension Before Tax Day
Taxpayers can still file their federal income tax return, make payments, request direct deposit of any refund, or seek filing …
House Republicans Advance Tax Reform Blueprint as Dems Rally Against Trump Plans
After a false start Wednesday, House Republicans approved the Senate-amended budget framework, 216-214, setting up tax reform via the reconciliation process. …
SCOTUS Stays Federal Worker Rehire Order
The Supreme Court stayed a lower district court’s preliminary injunction that required government agencies to reinstate terminated probationary employees and barred the …
Hot on the Hill: Highlights of Key Payroll-Related Legislation
Activity aimed at reforming payroll-related policies continues in both the House and Senate. Recent proposals include: (1) ensuring that employees …
AICPA Issues Clarification on Financial Statement Standards for Client Advisory Services
The AICPA on April 7, 2025, published Statement on Standards for Accounting and Review Services (SSARS) No. 27, Applicability of …
Challenge to Use of Automated Algorithm in Benefit Decisions Allowed to Proceed
Kisting-Leung v. Cigna Corp., 2025 WL 958389 (E.D. Cal. 2025) A group of participants in different employer-sponsored health plans brought …
One Tax Reform Hurdle to Watch
As House Republicans ponder whether the Senate’s tax reform blueprint would drive deficits to an untenable level, another potential issue with the …