Tax Pros Anxiously Await Guidance on New Overtime Deduction
A new temporary above-the-line deduction for overtime pay, enacted as part of the One Big Beautiful Bill Act (OBBB), is …
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 …
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 …
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 …
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 …
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 …
Commuter Benefits Evolve: Employers Adapt to New Technology, Tax Limits, and Employee Needs
The Changing Landscape of Commuter Benefits Commuter benefits are undergoing a transformation as transit agencies phase out traditional fare media …