News

An email sent to managers on Wednesday said that more than 3,500 probationary workers in the Small Business/Self-Employed division are expected to be notified Thursday that they are no longer employed with the IRS.

A FinCEN alert said it would provide an update before “any further modification” of the reporting deadline, “recognizing that reporting companies may need additional time to comply with their BOI reporting obligations once this update is provided."

The Professional Ethics Executive Committee updated a list of examples related to meeting independence standards when providing recruiting services for attest clients.

Putting in writing what happens in the event of divorce is important for high-net-worth clients especially, and with the right approach, these agreements can be created with care and respect.

"Americans deserve a fully functioning agency that can be respected by taxpayers and their preparers," a statement by AICPA CEO Mark Koziel said Sunday as IRS officials plan for cuts in federal workforce.

Proposed Uniform Accountancy Act changes would support a path featuring a bachelor’s degree and two years of experience, as well as a mobility model necessary to protect the ability of a CPA to practice in multiple states.

The AICPA Auditing Standards Board voted Thursday to separately expose for public comment proposed changes related to attestation review engagements and external confirmations in the AICPA Professional Standards.

The bill, which provides a deadline of Jan. 1, 2026, for an estimated 32 million small businesses to file beneficial ownership information reports, comes as the BOI requirements are mired in court cases.

The IRS issued the 2025 depreciation limitations for passenger vehicles, including those for which bonus depreciation is applied.

The AICPA had urged the SEC to refrain from approving the rules, warning they would “pose significant challenges” to small and midsize firms. An AICPA statement said that the “PCAOB’s decision not to move forward with the rules is the right one.”

The acting SEC chair, who voted against the rule last year, cites “changed circumstances” while calling the rule “deeply flawed.”

Barry Melancon, who retired as CEO of AICPA & CIMA in December, will be one of four inductees into the Accounting Hall of Fame in August.

The Financial Crimes Enforcement Network list includes inflation-adjusted amounts for the civil monetary penalties for violating beneficial ownership information reporting rules.

If an injunction is lifted, FinCEN will extend BOI filing deadlines for 30 days and reassess the types of companies required to file beneficial ownership information reports, the government said in its filing in a Texas case.

IRS employees received an email Wednesday advising them that workers in “critical filing season positions” must work until mid-May.