Category: AICPA News

The IRS issued proposed regulations related to the increased tax credit or deduction amounts for clean energy facilities and projects if taxpayers satisfy certain prevailing wage and registered apprenticeship requirements.

Employees who participate in a Sec. 401(k) or similar retirement plan and whose prior-year Social Security wages were over $145,000 have been given a two-year reprieve from the new requirement that any catch-up contributions they make to the plan must be designated as after-tax Roth IRA contributions.

Long-awaited proposed regulations, part of a broader effort by Treasury to close the tax gap and address tax evasion risks posed by digital assets, require brokers to report sales and exchanges of digital assets by customers.

Wait times increased about the same time as the IRS ended program that thwarted line-jumping services, say tax practitioners, who also questioned the training of new hires.

The Federal Accounting Standards Advisory Board is accepting public comments on an exposure draft aimed at making note disclosures an ‘integral part’ of financial statements.

Fewer broker-dealers will be exempt from registering with FINRA; private fund advisers face new regulations.

The Accounting Standards Update aims to bring consistency to the financial statements of joint ventures when they are formed.

Parents have new choices because of a recently enacted rule that will soon allow limited rollovers of leftover funds from 529 plans to a beneficiary’s Roth IRA.

BDO USA calls the decision, effective Aug. 31, a ‘game-changer’ established in part to improve the firm’s ability to retain and attract talent.

In a notice issued Friday, the IRS provided guidance to persons filing certain returns on how to seek religious exemptions, hardship waivers, and other administrative exemptions provided by the IRS, from electronic filing requirements.