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AICPA monitoring proposed changes to public company auditing oversight

April 29, 2025

AICPA leadership is monitoring a legislative proposal that would defund the PCAOB, saying in a statement Monday that it “is committed to supporting the drivers of audit quality.”

  • accounting and auditing
  • advocacy - federal

CT, 18 states sue Trump administration over K-12 DEI guidance and threats to funding

April 25, 2025

CT’s William Tong joined coalition of state AGs to challenge Education Department’s interpretation of civil rights laws.

  • advocacy - state
  • advocacy - federal

Tong Joins Lawsuit Against Trump Tariffs

April 23, 2025

Connecticut will join 11 other states in suing the Trump administration to halt what Attorney General William Tong called the president’s “lawless” tariff policies, Tong announced Wednesday afternoon.

  • advocacy - federal

Steps to prepare for tariff volatility and a possible restructuring wave

April 22, 2025

Businesses previously buoyed by easy credit and low interest rates now face tightening liquidity, higher borrowing costs and strained supply chains.

  • business and industry
  • practice management
  • advocacy - federal

Faulkender named fourth acting IRS commissioner this year

April 21, 2025

Michael Faulkender, who was confirmed as deputy Treasury secretary at the end of March, will serve as acting IRS commissioner — the fourth since President Donald Trump took office Jan. 20.

  • advocacy - federal
  • federal tax

Financial Accounting Foundation issues annual report

April 18, 2025

The Financial Accounting Foundation (FAF) annual report details its activities throughout 2024, highlighting how FASB and GASB engage with stakeholder groups to create and improve GAAP. The report includes an update to FAF’s 2022 strategic plan and includes perspectives from FAF leadership.

  • accounting and auditing
  • advocacy - federal

Trump is shifting cybersecurity to the states, but many aren’t prepared

April 18, 2025

For the first half of his career in law enforcement, working as a police officer in South Florida, Chase Fopiano did not think cyberattacks on police agencies were a serious threat.

  • technology and cybersecurity
  • advocacy - state
  • advocacy - federal

AICPA Signals Strong Support for Legislation Recognizing Accounting as STEM

April 15, 2025

The American Institute of CPAs (AICPA) is signaling its strong support for bipartisan legislation to establish the accounting profession as a career pathway through Science, Technology, Engineering and Math (STEM). H.R. 2911, the Accounting STEM Pursuit Act, introduced by Representatives Young Kim (R-CA) and Haley Stevens (D-MI), would allow K-12 grant funding to be used for accounting education, with a focus on improving access for underrepresented students. This will help ensure future leaders are highly skilled and prepared to meet the public's evolving needs.

  • career resources
  • advocacy - federal
  • pipeline

AICPA backs bill that would add accounting to STEM program

April 15, 2025

A bipartisan House of Representatives bill that would add accounting to the STEM education program has strong support from the AICPA.

  • career resources
  • practice management
  • advocacy - federal

Business advocacy group seeks destruction of millions of BOI records

April 14, 2025

A small business advocacy organization that sued over beneficial ownership information (BOI) reporting requirements asked the federal government to destroy BOI reports filed before the government dropped the requirement for domestic entities.

  • accounting and auditing
  • business and industry
  • advocacy - federal
  • boi

Financial Accounting Foundation Board of Trustees Seeks Nominations for Private Company Council Members

April 14, 2025

The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the Appointments Committee is seeking nominations for new members of the Private Company Council (PCC). New member terms will be for three years beginning January 1, 2026, and ending on December 31, 2028, with the possibility of reappointment to an additional three-year term.

  • business and industry
  • advocacy - federal

IRS offers 3 voluntary separation programs as RIF gains steam

April 09, 2025

As part of its reduction-in-force (RIF) plan, the IRS on Tuesday said it was offering three voluntary separation programs, including an early retirement program available to workers with the most seniority.

  • advocacy - federal
  • federal tax

IRS employees face further staff reductions

April 08, 2025

Internal Revenue Service employees are being offered a last opportunity to accept a voluntary buyout offer as the Supreme Court blocked a ruling requiring the Treasury Department and other federal agencies to rehire thousands of fired probationary employees. The acting commissioner of the IRS is reportedly among those who plan to accept the buyout offer after she was bypassed on an agreement to share confidential taxpayer data with the Department of Homeland Security's Immigration and Customs Enforcement unit.

  • advocacy - federal
  • federal tax

Pandemic-era ERC started with good intentions, ending with frustration

April 08, 2025

The pandemic-era employee retention credit (ERC) officially ends April 15, but its legacy will live on in delayed payments to the businesses it was designed to help, fraudulent activity related to its claims, and confusion not only for taxpayers and tax professionals but also for the IRS.

  • coronavirus
  • advocacy - federal
  • federal tax

IRS: 7,000 probationary workers will return to their jobs in next 10 days

April 04, 2025

About 7,000 probationary IRS workers who lost their jobs in February and were placed on administrative leave in March will return to work later this month, according to an email they received Tuesday.

  • advocacy - federal
  • federal tax

AICPA Applauds Passage of Bipartisan Bills to Improve Tax Administration and Offer Relief to Taxpayers, Practitioners

April 01, 2025

In a letter to the House of Representatives, the American Institute of CPAs (AICPA) endorsed four bipartisan bills, all of which have received overwhelming support in the House. These bills, which were also included in the recent Senate discussion draft, will improve transparency and fairness for taxpayers and are strongly supported by the AICPA.

  • advocacy - federal
  • federal tax

SEC ends legal defense of its climate rules

March 28, 2025

The climate disclosure rules adopted a year ago by the SEC will no longer be defended in court by the commission after a vote Thursday.

  • accounting and auditing
  • advocacy - federal

PCAOB Posts Three Staff Presentation Videos on Monitoring and Remediation Process Under New Quality Control Standard

March 24, 2025

The PCAOB has posted a series of three staff presentation videos designed to help auditors implement the monitoring and remediation process under QC 1000, A Firm’s System of Quality Control. The videos are the latest in a series of resources the PCAOB has recently released to assist and inform auditors in their implementation of Quality Control (QC) and other PCAOB standards and rules. The PCAOB encourages firms to take advantage of the various implementation resources, including staff-led videos, guidance documents, knowledge checks, a practice aid, and interactive chart, which are available on the Implementation Resources for PCAOB Standards and Rules page.

  • accounting and auditing
  • advocacy - federal

What happens next with the TCJA? Tax professionals are concerned

March 24, 2025

Tax professionals who have been in the business for several years know that the implementation of the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, was time-consuming and stressful, so they are now concerned about what happens next since the act’s provisions are set to expire at the end of 2025, according to a report from Bloomberg Tax.

  • advocacy - federal
  • federal tax

7,000 IRS workers ‘reinstated’ — but not yet returning to work

March 19, 2025

The federal government will pay about 7,000 IRS probationary employees, who were laid off less than a month ago, not to work while lawsuits over layoffs wind their way through the court system, the agency said Tuesday in an email.

  • state tax
  • advocacy - federal
  • federal tax