Audit & Assurance
New CEO named at Center for Audit Quality
FASAC chair Dave Sullivan will head the CAQ, following the April departure of Julie Bell Lindsay.
United States: Accounting & Tax News
Federal tax and financial reporting developments from the IRS and US accounting publications.
United States
Latest Updates
Recent headlines from the sources listed on each card.
Audit & Assurance
PCAOB's Steven Harris passes away
A board member for two terms, Harris founded and chaired the Investor Advisory Group and helped draft the Sarbanes-Oxley Act of 2002 that created the PCAOB.
Tax
Digging into the fertility deduction
While everyone calls it the "fertilizer deduction," that shorthand actually understates the statute.
Tax
How Year-End Tax-Loss Harvesting Helps Your April Tax Bill
Tax-loss harvesting is a strategy that potentially lowers the taxable income of investment returns held in taxable accounts.
Tax
No Tax Relief for These Casualty Loss Victims
If a loss is suffered in a federal disaster area, an individual may claim the loss on the tax return for the year preceding the year of the event.
Tax
Can the IRS survive these seven major hurdles?
A new report from TIGTA highlights the Internal Revenue Service's most significant operational and management challenges.
Regulatory & Policy
Tipalti launches treasury solution
Payments and finance platform Tipalti now has a fully integrated treasury solution which connects real-time cash visibility and automated forecasting with accounts payable.
Audit & Assurance
PCAOB’s latest data reveals cleaner inspection findings
The board’s review of 2025 public company audit inspections revealed a significant decrease from 2024 in instances where an audit firm failed to obtain sufficient appropriate evidence to support its o…
Financial Reporting & Standards
FASB seeks to reduce inconsistencies tied to customer-related payments
Stakeholders have until Nov. 23 to comment on a proposed Accounting Standards Update related to Topic 606, Revenue from Contracts with Customers. Also, FASB is set to hold an update for private compan…
Tax
Final regulations clear path for direct IRS card payments
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 thir…
Tax
IRS urged by national taxpayer advocate to pause Kwong claims denials
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…
Tax
IRS proposes regulations implementing premium tax credit changes
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 gove…
Tax
IRS grants Hurricane Isaias tax relief in Alabama, Florida
Taxpayers in parts of Alabama and Florida that sustained damage from Hurricane Isaias have until February to file various federal tax returns and make tax payments under disaster relief announced Wedn…
Tax
AICPA recommends IRS clarification of Form 8050
The AICPA asked the IRS to clarify that Form 8050, used to provide direct deposit information for tax refunds, will not be included in exempt organizations' publicly available tax return filings. An A…
Tax
Treasury, IRS propose regulations for education tax credit
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…
Audit & Assurance
PCAOB shares agendas for rulemaking, research
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 cons…
Tax
Senate approves taxpayer-focused reforms backed by AICPA
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.
Tax
IRS changes course to allow automatic Trump account enrollment
Treasury and the IRS issued proposed and temporary regulations providing for automatic enrollment in Trump accounts after developing a structure they said overcame barriers that previously stymied the…
Tax
GAO tax fraud estimate puts annual losses at up to $304 billion
A first-of-its-kind GAO analysis estimates annual federal tax fraud losses at $116 billion to $304 billion. The report said that the IRS needs a coordinated antifraud strategy. The IRS partially agree…
Tax
IRS launches mobile app with expanded account access
After 15 years as IRS2Go, the IRS’s taxpayer app now offers expanded access to account services under a new name. The IRS said it expects to add more capabilities to the app over time.
Tax
Identity theft victims waited 20 months for IRS case resolution
A TIGTA report found that IRS delays in resolving identity theft cases cost the government $124.2 million in refund interest from fiscal years 2023 through 2025. The findings echo warnings from Nation…
Tax
IRS finalizes increase in estate tax closing letter fee
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.
Tax
IRS raises per diem rates for business travel effective Oct. 1
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.
Technology & AI
AICPA, former IRS commissioner to lead initiative on AI in tax
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 responsi…
Technology & AI
IRS cyber weaknesses put taxpayer data at risk again, TIGTA says
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.
Tax
Unclear instructions, limited awareness plagued CP53E rollout, TIGTA says
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 paperl…
Tax
Government says Kwong court misread COVID tax relief law
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…
More headlines
- Listed 23 Oct 2026TaxIRS reminder: Year-round tax planning can make filing easier (opens the source)IRS
- Listed 22 Oct 2026TaxIRS reminder: Take steps now to protect tax information (opens the source)IRS
- Listed 16 Oct 2026TaxIRS announces 2026 Tax Professional Awareness Week, highlighting resources to help tax professionals prepare for the 2027 filing season (opens the source)IRS
- Listed 15 Oct 2026VAT/GST & Indirect TaxIRS provides dyed diesel fuel relief related to excise tax following President Trump’s Executive Order (opens the source)IRS
- Listed 14 Oct 2026TaxIRS announces tax relief for taxpayers impacted by severe storm in Nebraska, various deadlines postponed to January 7, 2027 (opens the source)IRS
- Listed 14 Oct 2026TaxIRS announces tax relief for taxpayers impacted by severe storms, straight-line winds, tornadoes, flooding and landslides in Ohio, various deadlines postponed to Feb. 1, 2027 (opens the source)IRS
- Listed 21 Sept 2026TaxIRS wraps up successful Nationwide Tax Forums with nearly 13,000 attendees (opens the source)IRS
- Listed 4 Sept 2026TaxIRS announces tax relief for taxpayers impacted by April wildfires in central Nebraska, various deadlines postponed to Feb. 1, 2027 (opens the source)IRS
- Listed 3 Sept 2026TaxTruckers should e-file highway use tax return by September 3 (opens the source)IRS
These items are published by the named third-party sources and are shown for general information only. The firm does not advise on, or sign, tax returns in jurisdictions outside India.
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