Category: AICPA News

Treasury and the IRS announced that certain portions of future regulations finalizing the proposed regulations for required minimum distributions will apply beginning in the 2026 distribution calendar year.

A delay to Jan. 1, 2026, for beneficial ownership information reporting had been included in a proposed government funding bill that has now collapsed. The AICPA has been advocating for a delay in the reporting requirements.

The Financial Accounting Foundation’s review of the council, which works with FASB to support the interests of private companies in the standard-setting process, concluded that the council is serving its purpose.

The proposal aims to address gaps in guidance for financial accounting of environmental credits and environmental credit obligations.

A vote could come as early as today on the continuing resolution, which would extend the reporting deadline by one year to Jan. 1, 2026.

The IRS released final regulations that amend the definition of “coverage month” and amend other rules in existing income tax regulations for computing the premium tax credit.

The IRS announces expansion of online accounts, including the tax pro account, as part of the quarterly update to its strategic operating plan.

The Professional Ethics Executive Committee’s guidance is related to recruiting services for attest clients, and the exposure draft includes a new definition and interpretation of simultaneous employment or association.

The IRS is providing relief from penalties imposed solely for failure to furnish Part IV of Form 8308 for partnerships by Jan. 31, 2025, if a partnership meets certain requirements.

More than 3 in 5 business executives surveyed by the AICPA are at least contemplating the use of generative AI, signaling that broad adoption could be around the corner.