Trump Pledges to Restore TCJA Full Bonus Depreciation
At his address before Congress Tuesday evening, President Trump hinted at some priority tax policies for his second term, including …
Thomson Reuters Tax & Accounting News
DOL Files New Appeal in Blocked Overtime Rule Case
The Department of Labor signaled its willingness to fight for the increased salary threshold established by its final rule, which …
What Self-Correction Options Are Available for 401(k) Plan Fiduciary Mistakes?
QUESTION: We understand that the DOL has added a self-correction component under the Voluntary Fiduciary Correction (VFC) Program. What errors …
AICPA, NASBA Now Accepting Comments on Proposed Optional Pathway for CPA Licensure, Individual Mobility
The AICPA on March 4, 2025, said that its proposal to offer an additional path to obtain a CPA license …
IRS Reminds Farmers and Fishers in Disaster Areas of Extended Tax Deadline
While the March 3, 2025, deadline has passed for certain farmers and fishers to file their 2024 federal income tax …
New Jersey Governor Murphy’s Budget Contains New Tax Proposals
By David Engel On February 25, 2025, Governor Phil Murphy introduced his budget for the fiscal year 2026. The new …
Corporate Transparency Act Won’t Be Enforced Against US Citizens, Domestic Entities
U.S. citizens, domestic entities, and their beneficial owners need not worry about penalties and fines under the Corporate Transparency Act …
FinCEN Says It Won’t Enforce Corporate Transparency Act Deadline
Treasury’s Financial Crimes Enforcement Network (FinCEN) announced February 27 that it would not take any actions to enforce the upcoming beneficial ownership …
Debate Ramps Up on Tax Cut Permanency
Now that the House has made a move toward extending expiring provisions of the Tax Cuts and Jobs Act (TCJA, …
PCAOB Enforcement Higher During Biden Years Than Trump’s First Term – Report
In a new report, Cornerstone Research said Public Company Accounting Oversight Board (PCAOB) enforcement activities were higher during the Biden …
Attempt to Overturn Digital Asset Broker Regs Clears First Hurdle
A joint resolution for disapproval of a Biden-era final rule on digital asset broker gross proceeds reporting requirements advanced out …
Trump, Commerce Secretary Discuss ‘Gold Card’ Program to Revamp EB-5 Visa Process in First Cabinet Meeting
During a question and answer session at President Donald Trump’s first cabinet meeting on February 26, the 47th President engaged …
AICPA Keeps SAB 121 in Digital Assets Practice Aid For Now
The SEC’s Office of the Chief Accountant (OCA) last month withdrew its much-criticized Staff Accounting Bulletin (SAB) No. 121 on …