After clean energy credit eligibility ruling, tax pro advises ‘staying the course’
Earlier this month, the U.S. District Court for the District of Columbia vacated Treasury guidance that had limited options for …
Thomson Reuters Tax & Accounting News
Companies brace for Strait of Hormuz cost shock as accounting questions mount
A possible Strait of Hormuz cost spike is pushing companies to review their contracts as higher oil, freight, tariff, and …
As trust fund nears insolvency, SSA chief actuary shares options
The Social Security Administration’s (SSA) Old-Age and Survivors Insurance (OASI) Trust Fund, which pays retirement benefits, is now projected to …
Maryland Extends Income and Property Tax Incentives to Include U.S. Space Force Members
By Saleem A. Shareef, Esq., Checkpoint News On May 26, 2026, Maryland Governor Wes Moore signed legislation that amends the …
IRS silence on prediction market winnings to cause confusion as World Cup begins
The 2026 FIFA World Cup is bringing international visitors to the United States, and many can wager on match outcomes …
SEC Staff Eye AI Reminders, Not Prescriptive Rules, for Financial Reporting
Public company accountants and auditors have been using artificial intelligence (AI) for financial reporting matters largely without new regulatory requirements. …
New initiative aims to extend Trump account benefits to foster children
The Trump administration announced plans to allow child welfare agencies to elect to open a Trump account for children in …
Former Congressional Tax Counsel Unpacks Planned Form 990 Overhaul
Following Treasury’s recent announcement that it plans to revise Form 990 — the information return required annually of tax-exempt organizations — a …
Ways and Means Hears From Tax, Crypto Experts on Digital Asset Proposals
The House Ways and Means Committee held a legislative hearing on a package of bills creating a tax framework for digital assets, …
What Expenses Can Be Reimbursed Under a Qualified Educational Assistance Program?
QUESTION: If our company sets up a qualified educational assistance program, what expenses can the program reimburse? For example, can …
NY Budget Creates Administrative Burdens, Says Tax Expert
New York’s recently enacted fiscal year 2026-2027 budget decouples from various federal tax changes, but EY’s Scott Roberti said divergence between the …
PCAOB Proposes Rollbacks to Quality Control Standard Amid Audit Firm Pushback
In a nod to audit firms’ criticisms that the Public Company Accounting Oversight Board’s (PCAOB) new quality control standard (QC) …
Colorado Enacts Broad Tax Code Changes
By Jen Coleson, Esq., Checkpoint News On June 3, 2026, Governor Jared Polis signed legislation enacting broad changes to Colorado’s …