FASB proposes update to residential mortgage servicing rights guidance
Category:Tax NewsFeedback on the proposal, which addresses stakeholder concerns, is being accepted through Nov. 9.
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Category Archives: Tax News
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Sep 26
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Sep 26
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AICPA, former IRS commissioner to lead initiative on AI in tax
Category:Tax NewsParticipants 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.
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Sep 26
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IRS cyber weaknesses put taxpayer data at risk again, TIGTA says
Category:Tax NewsFor 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.
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Sep 26
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Unclear instructions, limited awareness plagued CP53E rollout, TIGTA says
Category:Tax NewsMany 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.
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Sep 26
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Government says Kwong court misread COVID tax relief law
Category:Tax NewsIn 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.
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Sep 26
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Driving efficiency or driving workers toward burnout? How AI is being used
Category:Tax NewsNearly 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.
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Sep 26
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IRS delayed action on thousands of high-income nonfiler cases, TIGTA says
Category:Tax NewsA 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.
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Sep 26
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AICPA members to vote on two proposed bylaw amendments this fall
Category:Tax NewsVoting will open later this fall on amendments addressing AICPA volunteer term dates and AICPA membership eligibility requirements.
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Sep 26
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FASB updates investment company fair value reporting standard
Category:Tax NewsThe amendments address stakeholder concerns that current GAAP guidance doesn’t consider a contractual restriction on the sale of an equity security when measuring the fair value of that security.
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Sep 26
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PCAOB finalizes simplified quality control amendments
Category:Tax NewsQC 1000, A Firm’s System of Quality Control, will be effective Dec. 15 and could serve as the basis for the PCAOB’s future approach to inspections of public company compliance.
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