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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.

New York’s accounting policy advisors secured two legislative wins this week, with CPA licensing reform and e-signature expansion both passing in the same session.

Republican senators are considering placing a $30,000 cap on the state and local tax deduction as a compromise between current law and the more generous limit in the House's version of President Donald Trump's tax bill, a key GOP negotiator said.

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.

A follow-up letter to congressional finance leaders last week and a new “Fact or Fiction” analysis underscore the AICPA’s opposition to several tax provisions in the House-approved budget bill, most notably the limitation of the passthrough entity tax/state and local tax (PTET SALT) deduction for specified service trades or businesses (SSTBs).

Following its continued opposition to the severe limitations on the deductibility of state and local tax (SALT) for specified service trades or businesses (SSTBs) included in recent tax legislation passed by the House of Representatives, the American Institute of CPAs (AICPA) sent a second letter to leadership of the Senate Finance and House Ways & Means Committees urging modifications to troubling tax proposals in the One Big Beautiful Bill Act passed by the House and being considered by the Senate.

The decision to make non-audit CPAs stop using the credential may be less of a private equity strategy and more of a compliance response to regulatory structures.

The Financial Accounting Foundation (FAF) Board of Trustees today announced the search for a new member of the Governmental Accounting Standards Board (GASB). The seven-member, part-time Board will have an open seat beginning on July 1, 2026, when Jeff Previdi completes his second term on June 30, 2026.

A higher percentage of AICPA members got questions answered quickly by the IRS Practitioner Priority Service (PPS) line during the 2025 tax filing season, according to an annual survey, but they have concerns about the future of the IRS.

The House of Representatives approved an amended version of the budget reconciliation bill Thursday morning, sending it to the Senate for consideration. The bill, H.R. 1, known as the One Big Beautiful Bill Act, passed by a vote of 215 in favor, 214 opposed, with one member voting present.

The AICPA outlined its concerns to Congress about provisions in the tax bill that could hurt the accounting profession, including a section that allows long-debated contingent fees that it described as “an open invitation to unscrupulous tax preparers.”

The American Institute of CPAs is asking accountants to reach out to their congressional representatives and protest the proposed elimination of the ability of pass-through entities such as accounting firms to deduct state and local taxes.

The boards of directors of the American Institute of CPAs (AICPA) and National Association of State Boards of Accountancy (NASBA) have approved expansion of accountancy’s model legislation to include an additional path to CPA licensure. The optional path maintains public protection while providing added flexibility and options for CPA candidates.

Though Florida’s House of Representatives passed a bill that would eliminate licensing boards like the state’s Board of Accountancy, the state Senate has rejected the move for now.

A powerful House committee has tucked language preventing states from regulating artificial intelligence into President Donald Trump's massive tax and spending bill, a move that would benefit many of the U.S.'s largest tech and AI companies.

President Donald Trump is pushing lawmakers to increase tax rates on some of the wealthiest Americans as a way to offset other cuts in his signature economic package.

The AICPA on Thursday sent a letter to the IRS with recommendations to two areas of new instructions to Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent. The AICPA understands that Treasury and the IRS are considering updating the form instructions for the final regulations.

But it’s unclear whether officials will tap $2.3 billion windfall to mitigate cuts in federal aid.

The House Financial Services Committee passed a budget bill Wednesday that eliminates the Public Company Accounting Oversight Board and caps the Consumer Financial Protection Bureau's budget at roughly $249 million, a drastic reduction from its recent budgets.

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.”