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TIGTA Outlines Nearly 100 IRS Audits and Evaluations for Fiscal Year 2026
Accounting
The Treasury Inspector General for Tax Administration (TIGTA) has issued its Fiscal Year 2026 Program Plan, itemizing the…
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Corporations Rely on Longstanding Partnership Rules to Reduce Certain Employment Taxes
Accounting
A report in The New York Times has brought new attention to a tax planning strategy involving limited partnerships that many…
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Senate Democrats Press Treasury to Prevent Looming Tax Hit for Borrowers
Accounting
A group of Senate Democrats is urging the Treasury Department and the IRS to take action before a temporary tax break for…
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FASB Issues Update Aimed at Simplifying Accounting for Purchased Loans
Accounting
The Financial Accounting Standards Board (FASB) has released a new Accounting Standards Update (ASU) intended to streamline…
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IRS Grants Reporting Relief for Employers on Tips and Overtime for Tax Year 2025
Accounting
The IRS has announced temporary relief for employers and other payers who may struggle to comply with new reporting rules on…
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AICPA Requests Transition Relief on Tip and Overtime Deductions
Accounting
The AICPA has asked the Treasury Department and the IRS to provide transition relief and clear guidance for 2025 reporting…
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IRS Offers Temporary Relief for Remittance Transfer Providers
Accounting
The IRS has issued new guidance offering deposit penalty relief to remittance transfer providers adjusting to a recently…
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FASB Weighs Feedback on Future Rulemaking Priorities
Accounting
FASB is reviewing input from more than 100 comment letters and recent stakeholder meetings as it considers which…
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IRS Extends Feedback Period on Form 6765 Instructions
Accounting
The IRS is giving taxpayers and practitioners more time to weigh in on the draft instructions for Form 6765, which is used…
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