CPA Never under estimate the value
Treasury and the IRS proposed regulations for the education freedom tax credit, a new federal credit under Sec. 25F for contributions to organizations that provide scholarships to eligible elementary and secondary schools.
The agenda features projects on negative assurance related to comfort letter engagements, auditor independence, fraud, noncompliance with laws and regulations, and going concern. Also, the SEC is considering whether to add the CPA credential as a pathway to accredited investor qualification.
The Senate unanimously approved the Taxpayer Assistance and Service Act, a bipartisan package of 65 tax administration reforms backed by the AICPA. The measure now moves to the House.
