News

An AICPA letter in response to a Treasury and IRS call for recommendations related to the “all or nothing” approach to dual consolidated losses (DCLs) asked Treasury and the IRS to consider allowing an exception so companies aren’t unnecessarily penalized.

The AICPA and state CPA societies are calling on the U.S. Department of Education to explicitly include accounting programs in the regulatory definition of “professional degree programs.”

With New York, at least 24 states have eased education requirements needed to become a certified public accountant in a bid to address a talent shortage.

President Donald Trump is considering pressuring states to stop regulating artificial intelligence in a draft executive order obtained Thursday by The Associated Press, as some in Congress also consider whether to temporarily block states from regulating AI.

The IRS just came out of the longest government shutdown, but the deal that ended the stalemate funds the agency only through Jan. 30, just as filing season is about to begin. And that’s a concern for taxpayers and tax practitioners, two former IRS commissioners told reporters Tuesday at the 2025 AICPA National Tax Conference.

Although it looks like the federal government shutdown will soon be at an end, Gov. Ned Lamont said he has signed a declaration enabling the Connecticut General Assembly to adopt legislation appropriating the funding necessary to create an emergency state response reserve. The reserve will facilitate the state response to millions of dollars in federal cuts toward health and human services that are being made by President Donald Trump and Congressional Republicans, Lamont said.

The IRS sent layoff notices to almost 1,400 employees, adding to the losses at the agency where 25% of staff had left as of May, according to a court document filed earlier this week in a lawsuit brought by unions against the federal government.

The longest shutdown in U.S. history is starting to wind down after a bloc of Senate Democrats joined Republicans on a deal to reopen the federal government, but Connecticut’s senators opposed the agreement because it made no guarantee to extend the policy at the heart of the shutdown fight: expiring health care subsidies.

In a significant development for employers nationwide, the U.S. Department of Labor (DOL) announced it will not enforce the Biden-era 2024 Independent Contractor (IC) Rule. While the rule remains in effect for private litigation, this shift in federal enforcement policy signals a more employer-friendly approach to worker classification at the federal level.

An IRS notice said employers and other payers will not face penalties for tax year 2025 if they do not provide a separate accounting of amounts reasonably designated as cash tips or the total amount of qualified overtime compensation as required by information-reporting provisions in the sweeping new tax law.

The U.S. Senate on Monday passed the Internal Revenue Service Math and Taxpayer Help Act, H.R. 998, which, among other changes, requires the IRS to provide taxpayers with details on notices related to a math or clerical error.

The Internal Revenue Service today issued frequently asked questions in Fact Sheet 2025-08 PDF regarding the dollar threshold for filing Form 1099-K under the One, Big, Beautiful Bill.

The Internal Revenue Service today issued frequently asked questions in Fact Sheet 2025-07 relating to the limitation on credits and refunds for Employee Retention Credits claimed for the third and fourth quarters of 2021 that were filed after Jan. 31, 2024. This limitation was enacted under the One, Big, Beautiful Bill.

The Internal Revenue Service spelled out some of the services that will be limited or unavailable during the government shutdown that's now surpassed the three-week mark.

In a letter submitted to the U.S. Department of the Treasury and the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) requested guidance related to the 2025 reporting and substantiation requirements regarding the deductions for qualified tips and qualified overtime compensation.

As the federal government shutdown grinds on, most Internal Revenue Service operations are closed. With agency-wide furlough in place since Oct. 8 for everyone except already-identified excepted and exempted employees, tax professionals and taxpayers alike can expect a lot less from the agency.

The AICPA and state societies have pledged strong support for accounting education programs to gain STEM status, and the idea also has backing from the majority of respondents in a new survey.

The IRS furloughed almost half its workforce as the government shutdown entered its second week, the agency said Wednesday evening in its updated contingency plan.

Social Security Administration Commissioner Frank Bisignano will also serve in the newly created position of chief executive officer of the IRS, the Treasury secretary said Monday in a news release.

The Department of the Treasury and the Internal Revenue Service today issued guidance providing deposit penalty relief for the first three quarters of 2026 to remittance transfer providers. Notice 2025-55 PDF provides relief in connection with the new excise tax imposed on certain remittance transfers under the One, Big, Beautiful Bill.