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, …
Thomson Reuters Tax & Accounting News
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 …
IRS Provides Guidance on Alternative Manner of ACA Reporting
Notice 2025-15 The IRS has released Notice 2025-15, which provides guidance on the Paperwork Burden Reduction Act provisions on how …
SEC Acting Chair Asks Staff to Recommend Rule Changes to Help Smaller Companies Raise Capital
Securities and Exchange Commission (SEC) Acting Chair Mark Uyeda on February 25, 2025, told members of the Small Business Capital …
ABA Expert Advice on New Client Intake
Whether a tax professional is working at a Low-Income Taxpayer Clinic (LITC) or in a private firm, there are best …
New Jersey Looks to Codify Corporation Business Tax Nexus Standards
By David Engel The New Jersey Division of Taxation has proposed codifying its corporation business tax nexus standards in regulation …
Can Splitting Out Exempt Orgs Save the IRS?
As the IRS faces large staffing and budget cuts, a former Exempt Organizations Division director proposes systemic changes — including …
Senate, House Moving Forward with Separate Tax Reform Approaches
The House is forging ahead with its budget resolution — setting up expedited consideration of a broad bill that includes tax reform …
Academics: AI, Tech Can Help Close Tax Admin ‘Digital Divide’
The IRS and tax practitioners have ways to leverage artificial intelligence and other digital solutions when assisting certain low-income taxpayers …
Cryptocurrency – Global Regulatory Updates
Background A bit of history about cryptocurrency. Bitcoin was the first cryptocurrency created and was launched in January 2009 by …