News

In the fourth installment of a special summer series, the Security Summit partners today remind tax professionals and taxpayers about the IRS Identity Protection PIN and the IRS Online Accounts that can help protect against tax-related identity theft. The IRS and Security Summit also remind tax professionals that using multi-factor authentication is a best practice and a federal requirement to protect clients’ sensitive information.

Billy Long ended his brief tenure as IRS commissioner Friday, posting on X that President Donald Trump will nominate him to be ambassador to Iceland.

There’s a new IRS Senior Stakeholder Liaison in town! (Well, new to CTCPA members, anyway.) Yolanda Durant has actually been with the Internal Revenue Service since 2012, with a resume that runs the gamut of responsibilities: Senior Individual Taxpayer Advisory Specialist, Tax Compliance Officer, Intake Advocate for the Taxpayer Advocate Department, Customer Service, and Collection Representative.

Paul N. Iannone, JD, CPA, MST and Danny A. Pannese, MST, CPA/ABV/CFF, CVA, CSEP, both Associate Professors in the Jack Welch College of Business & Technology at Sacred Heart University, published “When the Audit Goes Beyond the Audit: An Interview with James Mastracchio, Esq.” for the March/April 2025 issue of the Journal of Taxation.

The One Big Beautiful Bill Act is sparking questions from employees and payroll departments about how to handle the various tax breaks, including on overtime pay.

The IRS said Thursday it will delay making changes to certain information returns or withholding tables, as part of its phased implementation of H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act (H.R. 1), until tax year 2026. This includes changes related to the temporary deductions for overtime and certain tips that were part of the legislation.

Globally, nearly three-fourths of corporate reporting professionals use artificial intelligence tools daily. Companies with greater AI integration are able to use time savings to focus more on strategy.

KPMG LLP recently celebrated its Community Impact Day, a nationwide day of service that provides employees of all levels flexible and meaningful ways to come together both in-person and virtually to serve our communities. In Greenwich, KPMG volunteers spent the morning at the Boys & Girls Club of Greenwich (Camp Simmons) leading activities like field games, a paint war, book readings, and more with campers ages 5-12.

Unlike robotic process automation, intelligent process automation has advanced AI that can assist with judgments previously only CPAs could handle.

Weinstein Spira provides time for study, food for study groups, and a $10,000 bonus for staff who successfully complete the CPA Exam process.

It’s still an employers’ job market for now, but more employees may be getting restless in their roles, data suggests.

If you feel overwhelmed at work, it might amount to burnout — but there are ways to ask for help, recover, and take back control.

Lamont administration boosts forecast by $420 million since session ends.

The One Big Beautiful Bill Act hiked and enshrined some tax savings for parents into permanent law, but its many provisions will play out differently across financial advisors' client households.

The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) that improves guidance on the measurement of credit losses for accounts receivable and contract assets.

The host of clean energy tax credits ushered in by the Inflation Reduction Act have not disappeared entirely, as some had feared. In the wake of the One Big Beautiful Bill Act, there are still some possible investments to be found, experts say.

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.

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.

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.

Thirty-seven percent of Americans have experienced fraudulent activities after being personally and/or professionally impacted by a natural disaster, according to a recent survey conducted by The Harris Poll on behalf of the American Institute of CPAs (AICPA).