How Does the Summary of Benefits and Coverage Differ From the SPD?
QUESTION: How are the requirements for the summary plan description (SPD) different from the summary of benefits and coverage (SBC), …
Thomson Reuters Tax & Accounting News
After the midterms, payroll turns to year-end tax changes and 2027 compliance
Payroll’s post-election focus shifts from politics to implementation For payroll departments, what happens after Election Day may matter more than …
AICPA to issue second proposal on ethics, independence rules for private equity firms
The AICPA’s Professional Ethics Executive Committee (PEEC) will seek public comment on revised ethics guidance for alternative practice structures (APS), …
Crypto donors still need appraisals despite pending fix, attorney says
Cryptocurrency donors claiming large charitable deductions shouldn’t wait for Congress to ease appraisal rules, a trusts and estates attorney told …
California extends CalCompetes income tax credit; conforms to federal 529A and 530A accounts for OBBB amendments
By Saleem A. Shareef, Esq., Checkpoint News California Governor Gavin Newsom signed legislation that extends the CalCompetes income tax credit, …
TIGTA assesses IRS’ compliance with tax lien Collection Due Process procedures
The Treasury Inspector General for Tax Administration (TIGTA) recently released a report titled “Fiscal Year 2026 Statutory Review of Compliance …
Tax experts see 2027 pressures mounting after midterm shakeup
Tax professionals are entering a period of significant policy change following the 2026 midterm elections, with a potentially quiet lame-duck …
CPAs say IRS should waive 2026 trust, estate estimated tax penalties
The American Institute of CPAs asked the IRS to waive 2026 estimated tax penalties for estates and non-grantor trusts that …
Officials, law firms, oppose proposed private school exemption rules
House Democrats, state attorneys general, and law firms are urging the Treasury Department and the IRS to withdraw or narrow …
If Our Employees Complete a Tobacco Cessation Program Midyear, Are They Entitled to a Retroactive Refund of Tobacco-Use Premium Surcharges Paid Earlier in the Year?
QUESTION: Our company is thinking about implementing a tobacco-use premium surcharge next year. If an employee were to complete a …
Partnership deals present unexpected Subchapter K traps, experts say
Partnership deals can carry unexpected federal tax consequences, from how a transaction is classified to how a recent capital contribution …
PCAOB proposes tying comfort letter negative assurance to filing deadlines amid SEC semiannual reporting project
The Public Company Accounting Oversight Board (PCAOB) on November 3, 2026, voted unanimously to issue a proposal that would change …
Iowa bitcoin mining company not qualified for data center sales, use and property tax exemptions
By Lisa Lopata, Esq., Checkpoint News The Iowa Department of Revenue issued a declaratory order concluding that a bitcoin mining …