CPA Never under estimate the value
The IRS announced inflation-adjusted limits on benefits and contributions for various retirement accounts, including maximum contribution amounts for 401(k) plans and traditional and Roth IRAs.
The AICPA urged Treasury and the IRS to provide guidance on measuring, substantiating, and reporting gambling gains and losses, saying uncertainty can cause some taxpayers to report taxable income exceeding their actual economic gain.
Half of CFOs and senior finance leaders believe their companies will pursue a merger or acquisition next year, according to global research by Gartner.
The AICPA agrees with the SEC in a comment letter that CPAs “possess sufficient financial sophistication to evaluate investment opportunities and risks without the protections associated with registered offerings.”
National Taxpayer Advocate Erin Collins said the IRS is working on Tax Pro Account enhancements that could allow practitioners to upload signed powers of attorney electronically. Speaking at the AICPA National Tax Conference, Collins also discussed amended return processing, CP53E notices, and other IRS modernization efforts.
Arthur J. “Kip” Dellinger Jr. received the Arthur J. Dixon Memorial Award, and Mark Gallegos received the Jonathan Horn Distinguished Service Award during the 2026 AICPA National Tax Conference.
The IRS Office of Professional Responsibility (OPR) plans additional guidance on artificial intelligence and practitioner fees after concerns from the AICPA and other groups about language in earlier guidance. Speaking at the AICPA National Tax Conference, the OPR’s director said the agency was not suggesting practitioners must reduce fees simply because AI improves efficiency.
The IRS has expanded the Tax Pro Account to allow authorized tax professionals to make certain payments on behalf of business clients, building on a series of recent enhancements to the online service.
U.S. employee engagement dropped below 30% for the first time in 15 years, and Gallup says manager support plays a larger role in workers’ engagement than any other factor. The firm found that fewer employees reported opportunities to learn and grow at work, while manager engagement has also declined in recent years.
The adjustments include increases in the standard deduction, income tax bracket thresholds, and the child tax credit. The changes generally apply to returns filed in 2028.
