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IRS staff cuts could put burden on practitioners to explain OBBBA

July 29, 2025

Staff cuts at the IRS could mean tax professionals become more responsible for explaining the provisions of H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act (OBBBA), a former IRS communications chief said during AICPA Town Hall last week.

  • federal tax

IRS, Security Summit remind tax pros they must have a Written Information Security Plan to protect client data

July 29, 2025

The Internal Revenue Service and its Security Summit partners today reminded tax professionals about the federal mandate to have a Written Information Security Plan (WISP) designed to help protect them against threats from identity thieves and data breaches. IRS provides resources to help with this process.

  • practice management
  • technology and cybersecurity
  • federal tax

New IRS commissioner plans implementation of Trump tax bill

July 29, 2025

The new commissioner of the Internal Revenue Service, Billy Long, explained his plans for the agency and the new tax bill during his first public talk as IRS commissioner Monday during the National Association of Enrolled Agents' tax summit.

  • federal tax

AICPA Survey Reveals What Relief Americans Want from the IRS Following a Natural Disaster

July 23, 2025

In a survey conducted recently by The Harris Poll on behalf of the American Institute of CPAs (AICPA), Americans were asked which type of tax filing and payment relief would be helpful after experiencing a natural disaster:

  • personal financial planning
  • federal tax

FinCEN says it will postpone effective date of anti-money-laundering rule

July 21, 2025

Treasury’s Financial Crimes Enforcement Network (FinCEN) said Monday that it plans to postpone the effective date of a rule bringing certain investment advisers within the standards of its anti-money-laundering and countering-the-financing-of-terrorism (AML/CFT) programs as it revisits the rule.

  • accounting and auditing
  • business and industry
  • federal tax
  • boi

Taxpayer Victory – Natural Disasters Act to Deliver Rapid Relief and Certainty, Headed to President’s Desk for Signature

July 11, 2025

The American Institute of CPAs (AICPA) and state CPA societies have strongly advocated Congress to authorize the Internal Revenue Service (IRS) to postpone federal tax deadlines for taxpayers affected by a qualified state-declared disaster upon a declaration by the state governor. Earlier this year, the House of Representatives unanimously passed the Filing Relief for Natural Disasters Act (H.R. 517) and this week the Senate followed suit, passing the bill by unanimous consent. The bill now heads to the President’s desk for his signature.

  • advocacy - federal
  • federal tax

AICPA: Guidance needed on catch-up contributions under Roth mandate

July 10, 2025

The AICPA requested additional guidance from Treasury and the IRS on catch-up contributions that are designated as Roth contributions in Section 603 of the SECURE 2.0 Act of 2022 (Division T of the Consolidated Appropriations Act, 2023, P.L. 117-328).

  • personal financial planning
  • advocacy - federal
  • federal tax

IRS urges extension filers to use IRS Free File this summer

July 10, 2025

The Internal Revenue Service encourages taxpayers who requested an extension to file their returns now rather than wait until the Oct. 15 deadline. IRS Free File makes it easy.

  • personal financial planning
  • state tax
  • federal tax

Tax provisions in the One Big Beautiful Bill Act

July 07, 2025

Below are details of many of the tax provisions in the One Big Beautiful Bill Act, which was signed into law Friday by President Donald Trump.

  • advocacy - federal
  • federal tax

House passes One Big Beautiful Bill Act with its many tax changes

July 03, 2025

The House passed the Senate’s version of the One Big Beautiful Bill Act, sending it to President Donald Trump for his signature. The bill extends many of the expiring provisions from the Tax Cuts and Jobs Act (TCJA), P.L. 115-97. It also addresses other tax priorities of the Trump administration, including providing deductions to eliminate income taxes on certain tips and overtime pay.

  • business and industry
  • advocacy - federal
  • federal tax

After 'successful' season, new IRS problems loom: TAS

June 25, 2025

One of the most successful filing seasons in recent memory" still had a few potholes — and cutbacks at the Internal Revenue Service portend tougher seasons ahead, according to the latest report to Congress by the National Taxpayer Advocate Erin Collins.

  • advocacy - federal
  • federal tax

AICPA Submits Recommendations to Senate Finance Committee on Reconciliation Bill

June 24, 2025

The American Institute of CPAs (AICPA) has expressed concerns with proposals pertaining to the pass-through entity tax (PTET) state and local tax (SALT) deductions in reconciliation bills introduced in the Senate and passed House of Representatives.

  • advocacy - federal
  • federal tax

Long sworn in as the 51st IRS Commissioner

June 23, 2025

Billy Long was sworn in as the 51st Commissioner of the Internal Revenue Service on June 16. Long was confirmed by the Senate on June 12.

  • advocacy - federal
  • federal tax

Lessons from a CPA whose firm delivered a ‘textbook response’ to data breach

June 18, 2025

A click on a link in an email that could have brought down Catharine Drake Madeley’s CPA firm instead caused 40 clients whose tax information was exposed in a data breach to think of her and her staff even more as trusted advisers.

  • practice management
  • state tax
  • technology and cybersecurity
  • federal tax

AICPA makes Priority Guidance Plan recommendations to IRS

June 16, 2025

The AICPA recommended 183 changes to the IRS’s 2025–2026 Priority Guidance Plan and also encouraged the agency to continue to pursue tax simplification.

  • advocacy - federal
  • federal tax

One Big Beautiful Bill full of impactful tax provisions

June 16, 2025

The One Big Beautiful Bill Act, as passed by the House and whose revised text was released Monday by Republicans on the Senate Finance Committee, includes a number of significant tax provisions for both corporate taxpayers and nonprofits.

  • advocacy - federal
  • federal tax

Senate confirms Billy Long as IRS commissioner

June 12, 2025

The Senate on Thursday voted to confirm Billy Long, a former Missouri congressman, as IRS commissioner.

  • federal tax

Automatic accounting method changes list updated by IRS

June 09, 2025

In Rev. Proc. 2025-23, the IRS on Monday provided a comprehensive, updated list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13, as subsequently modified, apply.

  • federal tax

IRS budget request cuts 20% of employees in 2026, increases phone help

June 09, 2025

The IRS budget would decline 37% from fiscal year 2025 to fiscal year 2026 and the number of IRS employees would decrease 20% over the same period, according to the annual Congressional Budget Justification released by Treasury.

  • federal tax

53 CPA societies back AICPA in PTET SALT deduction effort

June 06, 2025

Eliminating the state and local tax deduction for service-based passthrough entities would “result in a tax increase for accountants throughout the country,” according to a letter addressed to leaders of the Senate Finance Committee by the AICPA and CPA societies from 53 states and jurisdictions.

  • advocacy - federal
  • federal tax