New Administration Wades Into the Corporate Transparency Act
The Treasury Department is still pushing for eventual enforcement of the Corporate Transparency Act’s (CTA) beneficial ownership information reporting provisions …
Republican Tax Talks in Flux
House Speaker Mike Johnson (R-LA) said that Republicans were expecting to unveil a tax package over the weekend — but …
AICPA’s Auditing Board Plans to Issue 4 Standard-Setting Proposals in 2025
The AICPA’s Auditing Standards Board (ASB) is planning to publish four exposure drafts this year to seek comment on the …
IRS Confirms Filing Season, Taxpayer Advocate Staff Exempted From Buyout
The IRS confirmed that employees in roles deemed “critical” to tax season must continue working until mid-May, even if they …
EEOC Continues Operations Amid Leadership Changes and New Executive Orders
The Equal Employment Opportunity Commission (EEOC) announced that it continues to function and enforce anti-discrimination laws, following recent leadership changes and new …
The Future of the Child Tax Credit
With many provisions of the 2017 Tax Cuts and Jobs Act (TCJA, P.L. 115-97) set to expire at year end and …
Can Our DCAP Reimburse Application Fees, Deposits, and Similar Expenses?
QUESTION: A DCAP participant has asked to be reimbursed for an application fee paid to a day-care center. Can our …
Centralized Partnership Audit Regime Muddied by IRS Uncertainty, Expert Says
The future of the IRS’ plans and ability to enforce partnership tax compliance pursuant to now 10-year-old legislation is uncertain …
IRS Updates Guidance on Domestic Content Bonus Credit
The IRS has issued a notice that provides a new elective safe harbor for the Domestic Content Bonus Credit and …
PCAOB Criticizes Deloitte, Grant Thornton for Quality Control Issues for Fourth Year in a Row; Flags Deficiencies at 16 Firms
The Public Company Accounting Oversight Board (PCAOB) has criticized Deloitte & Touche LLP and Grant Thornton LLP for failing to …