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Pilot program set to help all stakeholders along the talent pipeline

June 21, 2023

The 150-hour education requirement for CPA licensure has become a target for some who see it as an easy way to ease the talent pipeline issues facing the profession.

  • career resources
  • practice management
  • advocacy - federal

Wayfair at five: No signs of age

June 16, 2023

It has been five years since the U.S. Supreme Court heard South Dakota v. Wayfair. The court decided on June 21, 2018, that states could tax purchases made from out-of-state sellers, even if the seller does not have a physical presence in the taxing state. Much of what has happened in state tax law since then has been based on that decision.

  • business and industry
  • state tax
  • advocacy - federal
  • federal tax

AICPA, NASBA looking for firms to pilot 'Experience, Learn and Earn' program

June 12, 2023

The AICPA and the National Association of State Boards of Accountancy (NASBA) are working together to develop an integrated education and experience program for students who need a path to the 150 credit hours required for CPA licensure. The Experience, Learn and Earn program (ELE) will combine meaningful online study integrated with early work experience.

  • career resources
  • practice management
  • advocacy - federal

Connecticut Among First States to Enact 30-Month CPA Exam Testing Window

June 09, 2023

With just minutes left in the 2023 Connecticut legislative session, Connecticut officially joined the first states to adopt the 30-month CPA Exam testing window recommended by NASBA.

  • advocacy - state
  • advocacy - federal
  • press room

Debt-Limit Deal Passes the House, Easing US Default Concerns

May 31, 2023

Measure heads to Senate, where passage is virtually certain

  • advocacy - federal

Biden-McCarthy debt limit deal puts government services on a diet

May 30, 2023

The debt-limit deal would rein in spending on some federal government services but barely dents the roughly $20 trillion in combined budget deficits projected over the next decade.

  • advocacy - federal
  • federal tax

Here's what's in the debt ceiling deal

May 30, 2023

After several weeks of tense negotiations, President Joe Biden and House Republicans have reached an agreement in principle to address the debt limit and cap spending. The drama is by no means over. Congressional leaders in both parties have to convince enough of their members to vote for the agreement, which contains provisions that lawmakers on each side of the aisle don’t support.

  • advocacy - federal

Debt Ceiling Agreement Lifts Student Loan Pause, Cuts Some IRS Funding

May 29, 2023

After a few days of speculation about the debt ceiling agreement between President Joe Biden and House Speaker Kevin McCarthy, we finally have the details. The text of the bill—just 99 pages long—was released on Sunday and is already generating conversation.

  • advocacy - federal

IRS faces $20B cut from modernization fund under debt ceiling agreement

May 29, 2023

The IRS is facing substantial cuts to funds meant to rebuild its workforce and modernize its legacy IT systems over the next decade, as part of a deal to raise the debt ceiling and avoid a first-ever government default.

  • advocacy - federal
  • federal tax

Congress introduces AICPA-backed bill to ease tax extensions

May 23, 2023

A pair of lawmakers proposed bipartisan legislation to streamline the tax filing extension process.

  • advocacy - federal
  • federal tax

Biden, McCarthy meeting ends with no deal on debt ceiling

May 22, 2023

President Joe Biden and House Speaker Kevin McCarthy could not reach an agreement Monday on how to raise the U.S. government's $31.4 trillion debt ceiling with just 10 days before a possible default that could sink the U.S. economy, but vowed to keep talking.

  • advocacy - federal

Coalition Including CPAs Calls Attention to New Beneficial Ownership Information Reporting Requirements

May 22, 2023

The American Institute of CPAs (AICPA) joined a coalition of organizations who have come together to make taxpayers and practitioners aware of the new Beneficial Ownership Information (BOI) reporting requirement. BOI is an anti-money laundering initiative enacted through the Corporate Transparency Act (CTA) in 2021, which mandates that BOI information is reported to the Financial Crimes Enforcement Network (FinCEN).

  • business and industry
  • practice management
  • advocacy - federal
  • boi

Senators want IRS to stop AI-generated tax scams

May 03, 2023

A group of senators on both sides of the aisle is asking the Internal Revenue Service's new commissioner, Daniel Werfel, to warn taxpayers and tax professionals about the emerging threat of tax scams produced by artificial intelligence programs and chatbots like ChatGPT.

  • technology and cybersecurity
  • advocacy - federal
  • federal tax

Time to rebalance the TCJA for small biz

April 25, 2023

With some temporary provisions in the Tax Cuts and Jobs Act approaching their sunset, members of Congress are considering extending or making them permanent — but Anne Zimmerman believes that the act was disproportionately beneficial to large corporations at the expense of small businesses.

  • business and industry
  • coronavirus
  • practice management
  • advocacy - federal

NASBA Extends CPA Exam Testing Window to 30 Months

April 24, 2023

In response to feedback submitted through the exposure draft, NASBA has announced that it will adopt an increased testing window of 30 months.

  • accounting and auditing
  • business and industry
  • career resources
  • practice management
  • advocacy - state
  • advocacy - federal

Senators press IRS chief on offering free tax prep

April 19, 2023

The Internal Revenue Service is still studying the feasibility of offering its own free online tax preparation system, and its new leader is not ready to say yet what it will recommend, but he promised it would be released next month.

  • advocacy - federal
  • federal tax

AICPA encouraged by IRS $80 billion strategic operating plan

April 13, 2023

The AICPA likes what it has seen so far in the IRS strategic operating plan for the $80 billion that Congress appropriated over 10 years as part of the Inflation Reduction Act of 2022, P.L. 117-169, although it still recommends that use of funds congressionally allocated to enforcement also be applied to training, customer service, and modernization, as part of enforcement efforts.

  • advocacy - federal
  • federal tax

NASBA upholds 150-hour education requirement for CPA licensure

February 10, 2023

Across the board, stakeholders charged with promoting and protecting the accounting profession are searching for solutions to a talent acquisition issue that isn't unique to the profession.

  • career resources
  • advocacy - federal

Senate Bill Would Force Large Private Companies to Register with SEC

September 27, 2022

Sen. Jack Reed of Rhode Island and two other Senate Democrats have filed legislation that would establish new SEC registration triggers for certain large private companies.

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

Certain tax services do not violate US ban on provision of accounting services in relation to Russia sanctions

June 10, 2022

A U.S. accounting firm is not prohibited by a White House executive order regarding U.S. sanctions against Russia from providing tax advisory and preparation services to the U.S. subsidiary of a Russian company in certain scenarios, according to guidance issued Thursday by Treasury's Office of Foreign Assets Control (OFAC).

  • accounting and auditing
  • practice management
  • advocacy - federal
  • federal tax