Amid Budget Cuts, AI Could Play Role in IRS Modernization
As the IRS gears up for the upcoming filing season and implements provisions of the new Tax Act, recent efforts …
Thomson Reuters Tax & Accounting News | Uncategorized
SEC Urges PCAOB to Delay New Audit Quality Control Standard Amid Industry Pushback, Sources Say
Securities and Exchange Commission (SEC) Chair Paul Atkins and the commission’s Chief Accountant Kurt Hohl are said to have urged …
Court Delays Key Provisions of Marketplace Integrity Regulations; Cost-Sharing Increases Remain on Schedule
City of Columbus v. Kennedy, 2025 WL 2426382 (D. Md. 2025) Available at https://www.govinfo.gov/content/pkg/USCOURTS-mdd-1_25-cv-02114/pdf/USCOURTS-mdd-1_25-cv-02114-0.pdf A federal trial court has temporarily …
Cuts in Multilingual Resources May Impact Tax Compliance
Congressional Democrats are urging that the IRS maintain resources and services for non-English speakers – contending that eliminating these options …
PCAOB Forms Resource Group to Address Challenges Facing Small Audit Firms
The PCAOB on August 26, 2025, said that it has formed the Smaller Firm Resource Group, an advisory group of audit …
Georgia Amends Computer Equipment Regulation
By Vidor A. Nosce The Georgia Department of Revenue has amended, effective September 7, 2024, Regulation § 560-12-2-.107, Computer Equipment, …
IRS Clarifies Clean Energy Rollbacks, Adjusts Sec 45Y Credit for Inflation
The IRS released new FAQs clarifying the accelerated terminations of various clean energy credits under the 2025 Act, formerly known …
Orgs Ask Judge to Block IRS-ICE Data Sharing Policy
An organization led by the previous National Taxpayer Advocate and other groups are seeking either a stay or preliminary injunction …
Republicans Say AI Could Strengthen Tax Fraud Detection
A group of Republicans on the House’s taxwriting committee are pushing for an examination of how artificial intelligence can be …
Chart Summary of Individual Tax Provisions – One Big Beautiful Bill
Practitioner’s Tax Action Bulletin® On 7/4/2025, President Trump signed the One Big Beautiful Bill Act (P.L. 119-21; “the 2025 Act”), …
What Happens to Qualified Transportation Plan Balances Upon Termination of Employment?
QUESTION: Our company wants to adopt a qualified transportation plan that would offer employer contributions toward mass transit expenses and …
IRS Proposes to Ease Reporting Rules for Partnership Interest Sales
The IRS has proposed regs to delay and revise the reporting requirements for partnership interest exchanges, aiming to address compliance challenges and …