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 …
Thomson Reuters Tax & Accounting News | Uncategorized
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 …
How the Latest CAMT Guidance Impacts the R&E Deduction
The IRS provided additional guidance on the corporate alternative minimum tax (CAMT) last week – including an important update for …
SCOTUS Considers Constitutionality of State Tax Foreclosure Practices
The U.S. Supreme Court heard oral arguments February 25 in a case that could reshape how states handle tax foreclosures …
HHS Issues Updated Model Notices of Privacy Practices and Announces Part 2 Enforcement Program
Model Notices of Privacy Practices; Office for Civil Rights Announces Civil Enforcement Program for Confidentiality of Substance Use Disorder Patient …
A Tale of Two Above the Line Deductions
By Lynn Bossenbroek, CPA The One Big Beautiful Bill Act (“the 2025 Act”), introduced several important modifications to increase charitable …
OECD Side-by-Side Deal Has its Limits, International Tax Pro Says
One cross-border tax attorney sees the Organization for Economic Cooperation and Development’s (OECD) new side-by-side safe harbor as patchwork relief …
‘Very Few Will Read a 200-Page PDF’: GASB Shifts to Short Videos for Elected Officials
Chair Joel Black says the Governmental Accounting Standards Board (GASB) is about to launch a 16-part video series designed to …
SEC Chairman Atkins Expects New PCAOB Members to Bring Board ‘Back to Basics’
At a Washington event, Securities and Exchange Commission (SEC) Chairman Paul Atkins said he is “excited” about the newly appointed …