XBRL Cuts AI Errors in Reading Company Filings, Study Finds
AI makes far fewer mistakes reading company filings when the information is provided in XBRL — a wonky reporting format …
Thomson Reuters Tax & Accounting News
DOL Removes 2024 Investment Advice Fiduciary Regulations to Implement Court Rulings
DOL Final Rule: Retirement Security Rule: Definition of an Investment Advice Fiduciary: Notice of Court Vacatur, 29 CFR Part 2510, …
House Committee Advances Bipartisan Tax Bills
The House’s tax-writing committee considered five bills aimed at improving tax fairness and the taxpayer experience on Wednesday – all …
SEC Chief Accountant Urges PCAOB to Set Up Permanent Broker-Dealer Audit Inspection Program
The Public Company Accounting Oversight Board (PCAOB) might finally move to craft a permanent program to inspect auditors of broker-dealers. …
Tax Pro Delves Into Qualified Production Property Guidance
The IRS’ recent guidance on the One Big Beautiful Bill Act’s (OBBB) depreciation deduction for qualified production property provides “at …
South Carolina Supreme Court Finds Amazon Liable for Tax on Third Party Sales
By Maria T. Albanese, JD, LL.M, Checkpoint News The South Carolina Supreme Court affirmed a decision by the South Carolina …
Debate Over Indexing Capital Gains to Inflation Reignites
A coalition of conservative groups and Republican lawmakers is pressing the Treasury Department to unilaterally index capital gains for inflation, …
2025-2028 Vehicle Loan Interest Deduction: What You Need to Know
By Patricia Brandstetter, senior specialist editor at Thomson Reuters For nearly 40 years, personal car loan interest has been off-limits …
Disclosures Show US Corporations Cut Tax Bills by Billions Last Year Using ‘Tax Havens,’ Says Group
Forty U.S. corporations collectively reduced their 2025 tax bills by more than $11.5 billion in 2025 through the use of …
Some Charities Can Trigger Tougher GAAP Rules by Tapping Public Debt
A trip to the bond market can come with an accounting surprise for some charities. Advisers told the Financial Accounting …
New Report Fuels Calls to Regulate Uncredentialed Tax Preparers
A new “mystery shopper” report from the Center for Taxpayer Rights (CTR) reveals widespread incompetence and misconduct among non-credentialed tax preparers, …
As AI Advances, XBRL Faces Fresh Questions Over Cost and Value
Investors and corporate finance chiefs hold competing views on whether a two-decade-old financial data standard still has a future — …
Companies Are Selling Their Tariff Refund Rights. Accountants Say Not So Fast
Some companies hoping to claw back money from disputed tariffs aren’t waiting around for Washington. Instead, they’re selling their rights …