Category Archives: Tax News

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Financial Accounting Foundation issues annual report

Category:Tax News

FAF report highlights recent FASB and GASB actions and updates its strategic plan published three years ago.


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AICPA backs bill that would add accounting to STEM program

Category:Tax News

The bipartisan bill would make accounting part of STEM, a federally funded program for science, technology, engineering, and mathematics education.


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Business advocacy group seeks destruction of millions of BOI records

Category:Tax News

The National Federation of Independent Business said in a letter to Treasury Secretary Scott Bessent that millions of beneficial ownership information (BOI) reports filed by domestic companies before the government dropped the BOI requirement should be destroyed.


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Uniform nonresident state income tax, withholding rules get AICPA support

Category:Tax News

A Senate bill would bar states from imposing tax and withholding on out-of-state workers who work for no more than 30 days within its borders. An AICPA letter described the bill as “critically important.”


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IRS can make it easier to leave assets to younger generations, AICPA says

Category:Tax News

In a letter to the IRS, the AICPA recommended changes to the final regulations for generation-skipping transfer (GST) exemption and certain GST elections that it said would make it easier and less expensive for taxpayers to file.


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IRS offers 3 voluntary separation programs as RIF gains steam

Category:Tax News

The programs include one open to the workers with the most seniority and a renewal of the previous deferred resignation program.


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Higher threshold for Form 1099-K reporting among AICPA priorities

Category:Tax News

In a letter to congressional finance leaders, the AICPA listed increasing the threshold to $10,000 as one of its priorities.


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AICPA Auditing Standards Board tabs Creps as chair

Category:Tax News

Catherine “Halie” Creps, CPA, a current ASB member and a partner at KPMG, will replace Sara Lord in May, when seven new board members begin their tenures.


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Private Company Council issues annual report for the first time

Category:Tax News

The council, which advocates for private companies during FASB’s standard-setting process, shares recent accomplishments and its vision for the future.


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PCAOB offers reporting guidance on a number of fronts

Category:Tax News

The board offers advice to public company auditors about Form AP, upcoming standards on quality control and confirmation, and in the form of free PCAOB-led forums.