The IRS and the Treasury released interim guidance giving new tax benefits to banks that provide loans secured by rural or agricultural real property.
Day: November 20, 2025
AICPA warns IRS not to combine tax pro offices
The American Institute of CPAs is urging the IRS not to merge its Office of Professional Responsibility with its Return Preparer Office to avoid confusion.
FASB admits leases standard was costlier than expected
The 2016 standard on leases met its objective of providing investors with useful information, but the costs of implementing and maintaining it were high.
M&A roundup: Mauldin & Jenkins, Ascend and Crete expand
Mauldin & Jenkins merged in LaPorte CPAs & Business Advisors; Ascend’s TSS Advisors added John G. Burk & Associates; Ascend’s Walter Shuffain Advisors integrated Richardson & Co.; Cross Financial joined Crete Professionals Alliance.
Presidential tariff power faces Supreme Court test
The issues concern the constitutional division of taxing power, the potential role of Congress in determining trade rules, and costs to businesses and households.