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  • IRS Offers Temporary Relief for Remittance Transfer Providers

    By:
    Emma Slack-Jorgensen
    |
    Oct 13, 2025
    The IRS has issued new guidance offering deposit penalty relief to remittance transfer providers adjusting to a recently introduced excise tax. The relief, outlined in Notice 2025-55, applies to the first three quarters of 2026 and aims to ease compliance challenges tied to the One Big Beautiful Bill Act. 

  • Longtime NYCPA Member Elliot Hendler Passes Away

    By:
    Jessica Salerno-Shumaker
    |
    Oct 13, 2025
    The New York State Society of CPAs is saddened to share the news that longtime member Elliot Hendler, CPA, passed away on Oct. 9. Elliot was a dedicated member of the Society for more than 60 years and remained a valued contributor to the accounting profession until his passing. His distinguished record of service and stellar reputation placed him in a class of his own. 

  • Taxpayer Advocate Asks How the Newly Appointed IRS CEO's Role Will Affect the Agency's Functions

    By:
    Karen Sibayan
    |
    Oct 13, 2025
    Taxpayer advocates are closely monitoring last week’s decision to name Social Security Administration Commissioner Frank Bisignano as IRS CEO and have many questions regards to what it could mean for the tax agency.

  • Regulatory Roundup: Oct. 7-13

    By:
    Karen Sibayan
    |
    Oct 13, 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.

  • IRS Releases 2026 Inflation Adjustments and Tax Brackets

    By:
    Emma Slack-Jorgensen
    |
    Oct 10, 2025
    The IRS has released its annual inflation adjustments for tax year 2026, affecting more than 60 provisions, including rate brackets, deductions, and various credits. The changes, outlined in Revenue Procedure 2025-32, will apply to returns filed in 2027. 

  • FASB Weighs Feedback on Future Rulemaking Priorities

    By:
    Emma Slack-Jorgensen
    |
    Oct 9, 2025
    FASB is reviewing input from more than 100 comment letters and recent stakeholder meetings as it considers which accounting topics to prioritize in its next phase of rule making. The outreach is part of FASB’s latest agenda consultation, its first broad effort of this kind since 2021. 

  • Closing the Skills Gap in Accounting

    By:
    Emma Slack-Jorgensen
    |
    Oct 9, 2025
    The conversation around the accounting profession’s skills gap has been going on for some time, but it’s taken on new urgency in the years since the pandemic. Many firm leaders and educators have noticed that emerging professionals are entering the field with strong technical skills, yet often struggle with the softer ones (communication, collaboration, and leadership) that the profession depends on. 

  • IRS Announces the Close of Most of Its Operations Due to Shutdown

    By:
    Karen Sibayan
    |
    Oct 8, 2025

    In an Oct. 8 message on its website, the IRS announced that because of the lapse in appropriations, most IRS operations are closed.

  • Newsom Signs Bill Modernizing California's CPA Licensure Requirements

    By:
    Karen Sibayan
    |
    Oct 8, 2025
    According to a release from the California Society of Certified Public Accountants, Gov. Gavin Newsom signed Assembly Bill 1175,  which modernizes California's CPA licensure requirements.

  • Treasury Announces Appointment of SSA Commissioner as New IRS CEO

    By:
    Karen Sibayan
    |
    Oct 7, 2025
    On Oct. 6, US Treasury  Secretary and Acting IRS Commissioner Scott Bessent announced that Commissioner of the Social Security Administration Frank Bisignano will be the CEO of the tax agency.
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