IRS Guidance on Trump Accounts Addresses Cafeteria Plans and Employer Contributions, Announces Regulations on the Way
IRS Notice 2025-68 (Dec. 2, 2025); IRS News Release IR-2025-117 (Dec. 2, 2025) Notice News Release The IRS has announced …
Thomson Reuters Tax & Accounting News
Tax Experts on OBBBA Changes to Opportunity Zones
Recent Baker Tilly year-end tax webinars highlighted sweeping changes to the Opportunity Zone program under the One Big Beautiful Bill …
SEC Chief Accountant Unveils Ambitious Agenda for Audit Oversight, Standard Setting
At a year-end AICPA conference, Securities and Exchange Commission (SEC) Chief Accountant Kurt Hohl outlined an ambitious agenda for accounting …
SEC Chair Criticizes Accounting Firms for Pushing Rules Driven by ‘Self-Interest’
At a conference, Securities and Exchange Commission (SEC) Chairman Paul Atkins strongly criticized accounting firms for having pressured the commission …
Michigan Issues Additional Guidance on Wholesale Tax on Adult-Use Marihuana
By Peter G. Pupke, Esq., Checkpoint News The Michigan Department of Treasury has issued additional guidance on the state’s new …
Bipartisan Group Pushes for Work Credit Extension, Enhancement
The Work Opportunity Tax Credit (WOTC) – aimed at helping transition certain groups back into the workforce – is set …
Protecting Digital Fortunes – Planning for a Digital Asset Legacy
By Nikki Sohal, CPA December 10, 2025 The rise of digital assets like cryptocurrencies and Non-Fungible Tokens (NFTs) is profoundly …
Guidance on OBBB International Tax Provisions Released
The IRS has released three notices addressing changes under the One Big Beautiful Bill Act (OBBB) impacting international taxation. (Notice …
OBBB Enhancements to Qualified Small Business Stock Rules
The One Big Beautiful Bill Act (OBBB) enhanced the federal tax exclusion for certain gain from qualified small business stock …
Christina Ho Will Not Seek Second Term at PCAOB, Citing Need for Fresh Leadership
As the Securities and Exchange Commission (SEC) vets candidates to serve as members of the Public Company Accounting Oversight Board …
Crypto Expert Talks Tax Loss Harvesting While Staying Compliant
Shehan Chandrasekera, head of tax strategy at CoinTracker, offered practical advice on how digital asset holders can optimize tax outcomes …
Accounting Degrees Downgraded by US Education Dept, Sparking Outrage
A seismic policy shift by the U.S. Department of Education, reclassifying accounting degrees as ‘non-professional’ and drastically cutting federal loan …
What Is the Mandatory Roth Requirement for Catch-Up Contributions?
QUESTION: We know that the SECURE 2.0 Act requires us to treat certain catch-up contributions made to our 401(k) plan …