CPA Never under estimate the value
Just 3% of CFOs report actively reducing headcount where AI has replaced work in the finance function, although few organizations are yet in position to fully implement AI across all workflows.
A pioneering former AICPA chair and the former head of the U.S. Government Accountability Office were honored as Gold Medal award recipients at Council.
A CPA who recently solved a 40-year-old math problem using AI believes that the “gold rush” to solve similar problems is creating a golden opportunity for CPAs in the assurance space.
The first-of-its-kind assurance certification, developed with the Artificial Intelligence Underwriting Company, is in a piloting phase and is expected to fully launch in early 2027.
The IRS on Friday issued final regulations implementing Taxpayer First Act provisions that would allow taxpayers to make credit and debit card tax payments directly to the IRS rather than through third-party payment processors. The final regulations adopt, without change, proposed regulations issued in July 2024.
National Taxpayer Advocate Erin Collins urged the IRS to halt denials of claims tied to ongoing Kwong litigation, arguing that taxpayers could lose rights or pursue unnecessary litigation while courts continue to consider the case. The IRS has received more than 275,000 refund and abatement claims related to Kwong, she said.
The IRS and Treasury proposed regulations implementing Sec. 36B premium tax credit changes enacted in H.R. 1, including new eligibility and verification requirements, reporting changes, and rules governing repayment of excess advance premium tax credits.
The AICPA is reminding states about the correct procedure to use to request disaster tax relief following Hurricane Isaias’ landfall just days before the Oct. 15 filing deadline.
Feedback is being accepted through Dec. 22 on a principles-based framework to promote consistency, quality, and transparency in valuation engagements.
What questions should financial advisers expect to hear from clients newly armed with artificial intelligence tools, and how can they answer the call to strengthen their position as essential experts?
