Check churning; a Maserati and a McLaren; private family foundation; and other highlights of recent tax cases.
Day: August 20, 2026
AICPA approves auditing standard for spotting fraud
The American Institute of CPAs’ Auditing Standards Board adopted new guidance governing the auditor’s responsibility for identifying fraud or suspected fraud.
IRS unveils Tax Compliance Report for taxpayers
The digitally authenticated report can be used when applying for a job, loan, government benefit or another service requiring tax compliance information.
Pet owners set up wills and trusts in estate plans
The AICPA is finding a growing number of pet owners including their cherished pets as part of their estate plan, and CPAs can help them set up wills and trusts.
IRS extends safe harbor for carbon capture tax credit
The Internal Revenue Service and the Treasury Department issued a notice extending a safe harbor for carbon capture and sequestration technology.