News

Taxpayers can employ several strategies in the face of limited deductibility of state and local taxes through 2025 and perhaps beyond.

The AICPA and the National Association of State Boards of Accountancy (NASBA) are seeking input on proposed changes to the Uniform Accountancy Act (UAA) that would pave the way for states to adopt an additional pathway for CPA licensure.

The Internal Revenue Service requested public comments on draft Form 7217 PDF and Instructions for draft Form 7217 PDF today.

CFOs think the federal government should address workforce issues over things like outbound investment and AI regulations, according to Deloitte.

A federal judge in Texas issued a permanent injunction against the Federal Trade Commission’s ban on noncompete agreements Aug. 20, two weeks before the controversial regulation’s effective date.

In a case that will likely end up in the Supreme Court, the Fifth Circuit has held that the "universal service" tax that appears on cell phone bills violates Article 1, Section 1, of the U.S. Constitution.

Two recent Supreme Court decisions involving the power of government agencies are a "big deal" for the accounting profession because they introduce a level of uncertainty that makes some tax practitioners uncomfortable, AICPA & CIMA's CEO said recently.

The Governmental Accounting Standards Board (GASB) will soon benefit from additional stakeholder perspectives in light of a recent decision by the Trustees of the Financial Accounting Foundation (FAF) to expand the size of the Governmental Accounting Standards Advisory Council (GASAC).

As the Internal Revenue Service intensifies work on the Employee Retention Credit, the agency today shared five new warning signs being seen on incorrect claims by businesses.

The new presumptive presidential nominee for the Democratic Party carries a long paper trail in tax policy. That history may alter the debate in a pivotal election ahead of a looming deadline next year.

Few American elections have had as much at stake as this year's, and clients have a lot on their minds concerning November.

The National Association of State Boards of Accountancy (NASBA) President and CEO elect Daniel J. Dustin, CPA, has selected Kent A. Absec, Brenner Allen, Esq., William A. Emmer, CPA, and Sedrik Newbern to join the leadership team at NASBA, effective August 1, 2024. These changes to leadership follow the retirement of current NASBA President and CEO Ken L. Bishop.

There is no more hiding from the eventuality of the effective date for new Federal regulations affecting the institutions serving students in programs leading to a license or certification. Institutions and the U.S. Department of Education (Department) have a common goal to support a student participating in an educational program leading to a state license to complete the state educational requirements to pursue their goal of becoming employed in the occupation for which they were trained and educated.

The Securities and Exchange Commission today charged Consensys Software Inc. with engaging in the unregistered offer and sale of securities through a service it calls MetaMask Staking and with operating as an unregistered broker through MetaMask Staking and another service it calls MetaMask Swaps.

As the Federal Trade Commission prepares to enforce its ban on non-compete agreements (NCAs), the agency’s chair spoke in Hartford about some of the gaps that could still remain when the rule goes into effect.

The Internal Revenue Service's plans to expand the Direct File free tax program nationwide next year could meet an early demise if Republicans gain control of Congress and the White House.

The AICPA has made recommendations to the IRS on its 2024–2025 Priority Guidance Plan, including on the corporate alternative minimum tax (AMT) and group exemption letters.

An independent national group featuring stakeholders from throughout the accounting profession published a draft set of recommendations for tackling the talent shortage.

The salary threshold required to exempt a salaried executive, administrative, or professional employee from federal overtime was increased from $35,568 to $43,888 effective July 1, 2024. The salary threshold will further increase to $58,656 on Jan. 1, 2025.

The board of directors of the National Association of State Boards of Accountancy (NASBA) announced today that Daniel J. Dustin, CPA, has been selected to become NASBA’s next president and chief executive officer. Dustin holds extensive expertise in the areas of accounting regulation and Board of Accountancy operations. His tenure as president and CEO will begin on August 1, 2024, following the retirement of current President and CEO Ken L. Bishop.