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Emma Slack-Jorgensen
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Regulatory Roundup: February 25 - March 3
Regulatory Roundup
AICPA AICPA Offers Strong Support for Disaster Tax Relief Bills in House Feb 26, 2025 AICPA Submits Request for Updates,…
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FinCEN Says It Will Not Issue Fines Against Firms That Fail to File BOI Reports
The Trusted Professional
On Feb. 27, the Financial Crimes Enforcement Network (FinCEN) announced in a release that it will not issue any fines or…
Read More
IRS Director Shares New Collections Methods and Innovations
Taxation
At KPMG’s Meet the IRS conference on Jan. 22, Mary Beth Murphy, director of IRS Collections, provided an in-depth look at…
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IASB Updates IFRS for SMEs Accounting Standard
Accounting
According to a press release, the International Accounting Standards Board (IASB) has issued a significant update to the…
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PCAOB Intensifies Enforcement Activity With the Looming Threat of Its Demise
Auditing
The Public Company Accounting Oversight Board (PCAOB) ramped up its enforcement activity in 2024, finalizing 51…
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House Passes Budget Resolution: Tax Cuts and Spending Reductions Up for Senate Negotiation
Accounting
The Financial Times reports that the U.S. House of Representatives has passed a budget resolution proposing $4.5 trillion in…
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Acting IRS Commissioner O’Donnell to Retire on Feb. 28; Krause to Assume the Role in the Interim
Taxation
Secretary of the Treasury Scott Bessent announced on Feb. 25 that IRS Chief Operating Officer Melanie Krause will become…
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IRS Reforms on the Horizon: New Bills Aim to Streamline Filing and Enhance Transparency
Taxation
According to Accounting Today, the IRS is set to undergo significant changes this tax season, with proposed legislation and…
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AICPA Urges IRS to Clarify Disaster Tax Relief in Draft Publication 547
Taxation
AICPA is calling on the IRS and the Treasury Department to revise Draft Publication 547 to ensure taxpayers clearly…
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