OBBB expands itemizing but complicates year-end planning, CPA says
Last year’s federal tax law gave more taxpayers reason to itemize, but income-based phaseouts and state decoupling have complicated year-end …
Thomson Reuters Tax & Accounting News
Study sees I-9 compliance shifting from onboarding to continuous oversight
For payroll departments accustomed to reconciling tax filings, wage records and employee populations, another reconciliation may deserve a place on …
Former IRS chiefs, taxpayer advocate want Form 1040 citizenship question dropped
A group of tax experts, including two former IRS commissioners and a former National Taxpayer Advocate, has urged the Treasury …
What Should Our Retirement Plan Know About Saver’s Match Contributions?
QUESTION: We understand that the federal government will soon start making matching contributions to retirement plans for certain individuals. As …
Multistate Monitor — Clients unaware of state OBBB decoupling gaps, expert says
Many clients don’t realize some states have rejected federal tax breaks in the 2025 tax law, while state tax increases …
PCAOB investor panel selects best critical, key audit matters of 2025
The Public Company Accounting Oversight Board’s (PCAOB) Investor Advisory Group (IAG) presented three exemplary critical audit matters (CAMs) or key …
Maryland amends provisions related to tax sales
By Carlton Huntley, JD, LLM, Checkpoint News Maryland Governor Wes Moore signed legislation that enacts several changes to the tax …
IRS allows local regulatory rules for foreign insurance reserves
The IRS has privately ruled that a foreign life insurance subsidiary can use its foreign annual statement liabilities calculated under …
Court rejects government bid to dismiss scam victim’s refund suit
A federal district court denied the government’s motion to dismiss a refund suit, holding that a scam victim’s informal letter …
Public company audit quality continues to improve, PCAOB’s 2025 inspections show
Accounting firms are doing a better job of auditing public companies than in previous years, according to the Public Company …
IRS eases reporting, recordkeeping on dyed diesel
The IRS has announced that it will not challenge temporary failures to meet return-filing, reporting, or recordkeeping requirements that arise …
Payroll year-end can expose the problems employers have been carrying all year, expert warns
The final payroll of 2026 may be weeks away, but many of the mistakes that can complicate year-end have already …
Tax pros urge annual reasonable compensation reviews for S corps
Tax professionals should document reasonable compensation for S corporation owners every year as California turns to algorithms to flag low …