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IRS to Waive $1B in Some Late Payment Penalties
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  • PCAOB Seeks Advisory Group Nominations

    By:
    Karen Sibayan
    |
    Aug 21, 2025
    The PCAOB is soliciting nominations for members of its Investor Advisory Group and Standards and Emerging Issues Advisory Group to fill vacancies that are upcoming because of certain members’ terms expiring on Dec. 31, 2025.

  • IRS Wait Time Stats Don’t Match Taxpayer Experience

    By:
    Emma Slack-Jorgensen
    |
    Aug 21, 2025
    A new report from the Treasury Inspector General for Tax Administration (TIGTA) finds that key metrics used by the IRS to measure call center performance don’t accurately reflect the taxpayer experience. 

  • Proposed IRS Regulations to Modify Reporting Requirements for Part IV of Form 8308

    By:
    Karen Sibayan
    |
    Aug 20, 2025
    The IRS released proposed regulations amending the obligations for information reporting with respect to sales or exchanges of certain partnership interests in owning inventory or unrealized receivables. The proposed regulations impact partnerships.

  • IRS Faulted for Mishandling Termination of Probationary Employees

    By:
    Emma Slack-Jorgensen
    |
    Aug 19, 2025

    A new report from the Treasury Inspector General for Tax Administration (TIGTA) highlights serious flaws in how the IRS handled the termination of thousands of probationary employees earlier this year. 

  • Illinois Expands CPA Licensure Pathways to Strengthen Talent Pipeline

    By:
    Emma Slack-Jorgensen
    |
    Aug 19, 2025
    Illinois has officially joined the growing list of states modernizing CPA. Governor JB Pritzker signed House Bill 2459 into law Aug. 15, creating new routes to becoming a CPA while maintaining the long-standing 150-credit-hour model. 

  • Although Busy Season Is Still Tough, Some Support Strategies Are Working to Alleviate the Pressure

    By:
    Emma Slack-Jorgensen
    |
    Aug 18, 2025
    A new survey from Distinct captures the reality of busy season for public accountants in 2025, and while long hours and stress remain common, mid-career professionals are feeling the pressure most.

  • Regulatory Roundup: Aug. 12-18

    By:
    Karen Sibayan
    |
    Aug 18, 2025
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYCPA's regular series that collects relevant regulatory announcements from the past week and puts them in one place to help you stay on top of the issues.

  • What the One Big Beautiful Bill Act Means for Individual Taxpayers

    By:
    Emma Slack-Jorgensen
    |
    Aug 14, 2025

    The recently passed One Big Beautiful Bill Act makes several key changes for individual taxpayers, many of which build on or make permanent provisions from the Tax Cuts and Jobs Act.  

  • GAO Urges IRS to Repair Broken Kiosks at Taxpayer Assistance Centers

    By:
    Karen Sibayan
    |
    Aug 14, 2025
    In a new report from the U.S. Government Accountability Office, the agency suggested that the IRS conduct a study to find out if a new kiosk program that utilizes updated technology or deploys laptops to Tax Assistance Centers, would provide effective and efficient self-service options for taxpayers.

  • Court Strikes Blow as NY, NJ Lose Chance to Keep  SALT Cap Workarounds Alive

    By:
    Karen Sibayan
    |
    Aug 13, 2025
    New York and New Jersey were not able to take down the Treasury Department's ban on programs permitting residents of these states to circumvent the federal SALT cap by directing their tax payments to state-run charities and utilizing a more generous deduction.
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