News

Citing the increase in the cost of fuel, the IRS has set a higher optional standard mileage rate used to calculate the deductible costs of operating an automobile for business for the remainder of 2026.

Learn how to help clients unmask fraudsters who try to take advantage of the havoc that natural disasters wreak.

The Internal Revenue Service and Security Summit partners today launched the summer “Protect Your Clients; Protect Yourself” campaign, a five-week series highlighting practical steps tax professionals can take to protect client data, their businesses, and themselves from evolving tax-related identity theft threats.

The Internal Revenue Service today announced a new automatic process to provide penalty relief for taxpayers with a history of filing and paying on time, reducing the need for them to request assistance.

Four out of five CPAs attending a recent AICPA ENGAGE session said they’ve had clients victimized by a financial scam — and one attendee admitted she also was defrauded.

The IRS on Monday issued Rev. Proc. 2026-25, which provides a gift tax reporting safe harbor for individual donors who make one or more contributions to Trump accounts under Sec. 530A and satisfy certain conditions.

The American Institute of CPAs (AICPA) is encouraging families to educate themselves about new “Trump Accounts,” officially known as Section 530A accounts, so they can make informed investment choices for their children’s future. July 4 marks the official launch date, when the accounts become fully active investment accounts – allowing families to begin contributing and eligible children to receive a $1,000 federal deposit.

Business executive sentiment reflects a growing divide between macroeconomic concerns and own-company optimism, according to the second-quarter AICPA and CIMA Economic Outlook Survey. While optimism about broader economic conditions softened, confidence in individual organizations continued to edge higher, highlighting a cautious but resilient business outlook.

The maximum contribution amounts for a health savings account (HSA) — which can be used to pay qualified medical expenses — and certain related benchmarks will be slightly higher next year.

Nearly 7 in 10 retirees are concerned about managing their savings so they don’t run out of money, yet a similar share aren’t working with a financial adviser.

A Financial Literacy Month survey conducted by The Harris Poll on behalf of the American Institute of CPAs (AICPA) shows that while a large number of Americans (78%) report that they do have money set aside in a savings/emergency fund to cover living expenses, savings by adults ages 45-54 and women is lagging.

More than three-quarters of American adults have set aside money in a savings/emergency fund, but many are falling short of CPAs’ recommendation for how much they save, and some aren’t saving anything at all.

An online tool to help taxpayers understand and resolve tax debt is now available on the IRS website.

As National Financial Literacy Month hits its stride, the American Institute of Certified Public Accountants (AICPA) and Finseca are equipping the public with answers to some of the most common questions individuals and families are asking as they seek greater clarity and confidence in their financial lives.

Stamford classroom now features a stock ticker, thanks to a $150K grant from financial services company Synchrony.

Attorney General William Tong has issued a consumer alert to warn Connecticut about the prevalence of fraudulent investment schemes proliferating across Meta platforms, including on Facebook, Instagram, and WhatsApp. Scammers are increasingly using deceptive advertisements and “deepfake” technology to lure investors into high-stakes scams to defraud them of their savings, Tong said. These scams include “pump and dump” scams, confidence scams, and fraudulent cryptocurrency schemes that take advantage of victims to extract as much money from them as possible.

A Financial Literacy Month survey conducted by The Harris Poll on behalf of the American Institute of CPAs (AICPA) shows financial pressures easing slightly, as the share of Americans delaying decisions for financial reasons in the past year dropped from 61 percent in 2025 to 55 percent in 2026.

Learn how CPAs can help protect the elderly against the growing threat of artificial intelligence-powered scams using deepfakes and voice cloning.

The Internal Revenue Service today announced that taxpayers have signed up more than 4 million children for tax-favored Trump Accounts, of which more than 1 million children are covered by elections for the $1,000 Trump Accounts pilot program contribution. Eligibility for the $1,000 pilot program contribution depends on when the child was born.

The Department of the Treasury and the Internal Revenue Service today issued proposed regulations providing guidance regarding the pilot program for Trump Accounts, which are a new type of individual retirement account for eligible children. Trump Accounts and the Trump Account Pilot Program were established under the One, Big, Beautiful Bill enacted on July 4, 2025.