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  • IRS Proposes Regulations on the Transition Rule for Dividends of Foreign Corporations Under OBBBA

    By:
    Karen Sibayan
    |
    Dec 5, 2025
    The Treasury Department and the IRS released a notice saying are set to release proposed regulations on the transition rule for dividends in section 70354(c)(2) of the One, Big, Beautiful Bill Act.

  • Report Shows the Stagnation and Decline of Audit Committee Disclosures

    By:
    Karen Sibayan
    |
    Dec 5, 2025
    The stagnation and decline of audit committee disclosures were seen throughout many measures such as, for S&P 500 companies, the decrease to 38% from 39% in the disclosure of the annual evaluation of the external auditor,

  • House Passes Bipartisan Legislation to Enhance Taxpayer Rights

    By:
    Emma Slack-Jorgensen
    |
    Dec 4, 2025
    The House has passed two bipartisan measures to strengthen taxpayer protections and modernize tax administration: the Fair and Accountable IRS Reviews Act and the Tax Court Improvement Act. 

  • FASB Issues Update on How Business Entities Should Account for Government Grants

    By:
    Karen Sibayan
    |
    Dec 4, 2025
    On Dec. 4, FASB released an Accounting Standards Update creating authoritative guidance on the accounting for government grants received by business entities.

  • Treasury, IRS Release Guidance Regarding Trump Accounts

    By:
    Karen Sibayan
    |
    Dec 3, 2025
    The Treasury Department and the IRS on Dec. 2 released a notice announcing upcoming regulations as well as offering guidance on Trump Accounts, which are a new type of individual retirement account for eligible children.

  • As Finance Roles Shift, CAOs Step Into a Strategic Leadership Lane

    By:
    Emma Slack-Jorgensen
    |
    Dec 3, 2025
    As CFOs continue to operate as strategic partners to the CEO, chief accounting officers are taking on a broader set of responsibilities that extend far beyond historical governance and compliance work.

  • Trump Signs IRS MATH Act Expanding Taxpayer Protections

    By:
    Emma Slack-Jorgensen
    |
    Dec 2, 2025
    President Donald Trump has signed the Internal Revenue Service Math and Taxpayer Help (MATH ACT) into law, one of the first bipartisan bills to enhance taxpayers’ rights and the clarity of IRS correspondence.

  • Understanding the Expectations Gap in Auditing

    By:
    Emma Slack-Jorgensen
    |
    Dec 2, 2025
    A new study from Tilburg University and the University of Wisconsin-Madison examines a question many firms have been asking quietly for years: how far apart are student expectations of audit work from the realities junior auditors experience?

  • IRS Requests Comment on New Scholarship Tax Credit Regulations

    By:
    Emma Slack-Jorgensen
    |
    Dec 1, 2025
    The IRS and Treasury Department are soliciting comments from the public regarding upcoming regulations related to a new federal tax credit for contributions to scholarship-granting organizations, established in the One Big Beautiful Bill Act. 

  • Regulatory Roundup: Nov. 25-Dec. 1

    By:
    Karen Sibayan
    |
    Dec 1, 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.
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