News

The AICPA updated its digital assets practice aid to assist practitioners with scenarios involving crypto lending and borrowing.

Most workers are using tools not provided by their employers, and few see any type of internal oversight.

The Treasury Department's list of 68 jobs that are eligible for tax exemptions on tips has leaked to the media and includes occupations ranging from bartenders and food servers to entertainers, performers and digital content creators.

Experts in personal financial services recommend helping clients keep economic shocks in perspective, simplify their finances, and try out aspects of retirement life.

A draft version of Form W-2, Wage and Tax Statement, for 2026 includes boxes and codes for reporting qualified tips and qualified overtime compensation that can be deducted temporarily under the provisions of H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act.

The Public Company Accounting Oversight Board (PCAOB) announced that it is postponing for one year, to December 15, 2026, the effective date for QC 1000, A Firm’s System of Quality Control, and other new and amended PCAOB standards, rules, and forms adopted by the Board on May 13, 2024. The Board’s action also postpones the related rescission date of certain rules and standards that are currently in force.

While a flexible work schedule continues to be the norm, companies across the board have been requiring more days in the office with each passing month.

Even though the One Big Beautiful Bill Act made substantial changes in the Tax Code, one area where that may not be seen so much is in terms of simplification, according to a new study.

HarperWhitfield P.C., with offices in Farmington and Weatogue (Simsbury), announced that Norbert Jurkiewicz of Farmington has joined the firm as a supervisor. Norbert brings more than 12 years of diverse public accounting experience spanning tax, audit, fiduciary services, and client advisory support. Prior to joining HarperWhitfield, he worked as a Senior Associate and Supervisor in Glastonbury, where he led engagements for a wide variety of clients including software companies, engineering firms, medical practices, and government contractors.

The Public Company Accounting Oversight Board (PCAOB) today announced the formation of the Smaller Firm Resource Group, an advisory group of professionals from smaller audit firms.

PwC’s campus hiring cuts show how technology is reshaping accounting and raises new questions about the profession’s future.

The IRS, which has lost about 25% of its workforce this year, is moving to fill some jobs by various means, including asking employees who accepted deferred resignations if they want to stay on the job.

Former Commissioner Danny Werfel wouldn’t predict failure for the IRS in its bid to modernize technology with less money and fewer experienced workers while preparing systems for massive changes in the new tax law. But, without seeing a plan, he said he’s dubious the agency will be successful.

Municipal aid has lagged inflation despite massive CT surpluses

The Internal Revenue Service today issued frequently asked questions (FAQs) in Fact Sheet 2025-05 relating to the modification of sections 25C, 25D, 25E, 30C, 30D, 45L, 45W, and 179D under the One, Big, Beautiful Bill Act (OBBB).

A new survey by the nonprofit Controllers Council aims to quantify talent concerns in corporate F&A.

The prevailing narrative regarding the role that generative AI can play in the life of a CPA goes something like this: Emerging AI tools can take care of busy work, freeing professionals to spend more time on value-added pursuits for their clients.

The IRS should be more transparent in communicating its telephone service metrics by including in the metrics more phone lines that taxpayers call and by covering the entire fiscal year and not just filing season, an agency watchdog said in a report.

Finance professionals expect to scale agentic AI within the next three years, but few employees in a new global survey are open to being managed by AI agents.

Kask & Company LLC, Certified Public Accountants and Business Advisors, announces its new office location at 12 National Drive in Glastonbury, Connecticut. Kask & Company CPAs, previously known as Borgida & Company CPAs, is led by managing partner and industry veteran James Kask, CPA, CGMA. Kask’s previous leadership roles include Senior Partner at CPA firms Haggett Longobardi and CohnReznick.