CPA Never under estimate the value
New questions and answers aim to assist stakeholders with financial reporting requirements related to subsidies in Statement No. 103, Financial Reporting Model Improvements. GASB also seeks feedback on a model for voluntary digital reporting.
The IRS issued final regulations increasing the cost of an estate tax closing letter to $76 from $56, adopting without change proposed regulations issued in June.
In its annual update, the IRS increased the special per diem rates taxpayers may use to substantiate business travel expenses for the upcoming travel year and updated its list of high-cost localities.
Feedback on the proposal, which addresses stakeholder concerns, is being accepted through Nov. 9.
Participants in the Council on AI Risk in Tax, led by the AICPA and former IRS commissioner Danny Werfel, include leaders from all areas of the tax world who will work together to promote the responsible use of AI in tax administration and practice.
For the second consecutive year, a government watchdog found the IRS’s cybersecurity program ineffective. TIGTA warned that taxpayer data could be vulnerable if security weaknesses are not addressed.
Many CPAs and their clients experienced confusion over IRS CP53E notices during the 2026 filing season. A TIGTA report confirms those concerns and sheds new light on how the IRS implemented its paperless-payment initiative.
In its opening brief to a federal appeals court Wednesday, the federal government said a lower court ruling in Kwong improperly turned a 60-day extension into a postponement period lasting over three years.
Nearly two-thirds of employees in a global survey said their company is more interested in using artificial intelligence to create efficiency than to add value, leading many to feel like they’re doing two jobs while struggling to find time to produce meaningful results.
A TIGTA report found that nearly 39,000 high-priority nonfiler cases were delayed in the IRS’s high-income nonfiler initiative because of resource concerns. The IRS said it has since advanced all affected cases.
