IRS Provides Details on Trump Account Elections, Pilot Contributions
The IRS released proposed regulations detailing how to elect open a Trump account on behalf of an eligible beneficiary and …
Thomson Reuters Tax & Accounting News
Proposed IRS Regs Offer Alternate E-Furnishing Option for Digital Asset Broker Statements
The IRS has issued proposed regs that would give digital asset brokers an optional, streamlined process for electronically furnishing a new information return …
Form 1099-DA Debut Will Test Broker, Taxpayer Readiness in Transition Year
Digital asset brokers and taxpayers are expected to face some growing pains with this tax season’s debut of a new …
‘When Workers Cash Out’: FASB Panel Launches Review of ESOP Buyback Warnings
When uncertainty hits, employees don’t always sit tight. They cash out. That reality — people wanting their money when headlines …
Can a Qualified Educational Assistance Program Be Used to Repay Employees’ Student Loans?
QUESTION: Many of our company’s employees have student loans. Could we help them repay those loans using a qualified educational …
Tax Pros Discuss OBBB State Conformity Challenges
As states scramble to adjust their laws after major changes to the federal tax code under the One Big Beautiful …
A Fix May Be Coming for the Rule That Can Make Companies Look Riskier Overnight
A little-known accounting rule could be making companies look broke — and the rule-setters may finally fix it for both …
D.C. Attorney General Finds House Joint Resolution Did Not Repeal Legislation Amending IRC Conformity
By Denis Del Bene, JD, LL.M., Checkpoint News The D.C. Office of the Attorney General (OAG) has issued an opinion …
IRS Releases Schedule, Instructions for New OBBB Individual Deductions
The IRS has published new Schedule 1-A that taxpayers will use for tax year 2025 to claim the One Big Beautiful Bill …
As Boomers Retire, Pressure Mounts to Expose Employee Stock Buyback Obligations
A retirement plan that runs on company stock can turn into a company’s next liquidity crisis — and U.S. accounting …
Income Tax Disclosure Rules Put Pressure on Corporate Data Systems
New financial disclosure requirements from the Financial Accounting Standards Board (FASB) are intended to provide investors with greater transparency into …
Dems Push to Overturn IRS Rule on Solar, Wind Tax Credits
A group of Senate Democrats introduced a resolution to disapprove of IRS guidance that changes the requirements for wind and …
Audit Enforcement Actions Fall Sharply in 2025 Amid SEC and PCAOB Leadership Changes—Report
Enforcement activity against auditors fell sharply in 2025, marking a dramatic shift in the regulatory landscape as both the Securities …