Tax Industry Leaders Brace for ‘Perfect Storm’ in Upcoming Filing Season
Tax industry leaders warned of a confluence of challenges in the upcoming filing season, between the government shutdown, retroactive tax …
Thomson Reuters Tax & Accounting News
2025 Tax Act Myths: Social Security Tax Rules Unchanged – New Senior Deduction
October 23, 2025 Background Since the passage of the 2025 Act (formerly known as the One Big Beautiful Bill Act), …
Keeping Up With Seismic Shifts at IRS as Shutdown Continues
Tax professionals at concurrent events this week examined the government shutdown, shifts at the IRS and its enforcement priorities, and …
Audit Firms Back PCAOB QC Standard Delay; Investors Warn Against Using Deferral for Rule Revisions
All accounting firms that wrote comment letters said they support the Public Company Accounting Oversight Board’s (PCAOB) decision to postpone …
Agency FAQs (Part 72) Clarify How Fertility Benefits May Be Offered As Excepted Benefits
FAQs About Affordable Care Act Implementation Part 72 (Oct. 16, 2025) FAQs Fact Sheet The DOL, HHS, and IRS have issued …
Cloudy Future for 501(c)(4) Orgs
A federal district court has ruled that long-standing IRS standards for determining whether a social welfare organization has engaged in …
SEC Chair Atkins Calls for ‘Spring Cleaning’ of Lengthy, Complex Rulebook
Citing a rulebook that has grown increasingly lengthy over the years, Securities and Exchange Commission (SEC) Chair Paul Atkins said …
California Expands Cannabis Excise Tax
By Saleem A. Shareef, Esq., Checkpoint News On October 2, 2025, California Governor Gavin Newsom signed legislation that expands the …
IRS Changes Course on FIRPTA Look-Through Rule for Domestic C-Corps
The IRS has proposed removing a recently adopted rule that prescribes looking at the shareholders of certain domestic corporations to …
Amid Shutdown, Many Taxpayer Deadlines Still Apply
With the lingering shutdown and further staffing reductions, taxpayers and their advisors are working to navigate the IRS and meet …
Accounting Firms Say Foreign Issuers Face Major Obstacles if SEC Mandates US GAAP
In comment letters, prominent accounting firms highlighted the costs and practical challenges for foreign private issuers (FPIs) if the Securities …
Tax Court Cancels Trial Sessions Amid Government Shutdown
The United States Tax Court has canceled all in-person and remote trial sessions scheduled for the weeks of October 20 …