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Latest Articles

  • AICPA Lists Recommendations as Treasury, IRS Transition to Electronic Payment System

    By:
    Karen Sibayan
    |
    Jul 7, 2025
    In a letter sent to the Treasury Department, the AICPA gave recommendations on the implementation of Executive Order 14247, "Modernizing Payments To and From America’s Bank Accounts."

  • North Carolina Approves New Route to CPA Licensure

    By:
    Emma Slack-Jorgensen
    |
    Jul 3, 2025
    North Carolina has approved another route to CPA licensure. Governor Josh Stein signed Senate Bill 321, the Accounting Workforce Development Act, which will take effect Jan. 1, 2026. 

  • IRS Withdraws Proposed Regulation on Built-In Gains and Losses Under Section 382

    By:
    Emma Slack-Jorgensen
    |
    Jul 2, 2025

    The IRS has decided to step back from its proposed regulations on the treatment of built-in gains and losses under Section 382(h), officially withdrawing the rules this week.

  • New Global Ethics Standards Bring Tax Planning Back to First Principles

    By:
    Emma Slack-Jorgensen
    |
    Jul 2, 2025

    The International Ethics Standard Board for Accountants’ first global Ethics Standards on Tax Planning took effect Jul. 1, which establishes a new baseline for how accountants should approach tax planning decisions. 

  • Senate Passes Tax Bill Raising SALT Deduction

    By:
    Karen Sibayan
    |
    Jul 1, 2025
    The U.S. Senate on Jul. 1 passed Donald Trump’s $3.3 trillion tax bill after leaders of the Republican party were able to persuade holdouts to back the legislation. The Senate bill would raise the state and local tax deduction to $40,000 from $10,000 until 2029.

  • Senate Budget Bill Would Keep SALT Deduction, Reshape Other Key Tax Rules

    By:
    Emma Slack-Jorgensen
    |
    Jun 30, 2025
    Senate Republicans are working to keep a higher state and local tax (SALT) deduction in their budget bill a major move after months of back-and-forth. The Senate's updated version would raise the SALT cap to $40,000 and adjust for inflation, a measure the AICPA has strongly supported for maintaining consistency between pass-throughs and corporations.

  • Regulatory Roundup: June 24 - 30

    By:
    Karen Sibayan
    |
    Jun 30, 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.

  • Pennsylvania Poised to Expand CPA Licensure Pathways

    By:
    Emma Slack-Jorgensen
    |
    Jun 27, 2025
    Pennsylvania is on the brink of reshaping how future CPAs can enter the profession. On June 26, the state House of Representatives unanimously approved legislation creating an additional licensure path, offering more flexibility to the traditional 150-hour route.

  • IRS Faces Ongoing Backlog in Identity Theft

    By:
    Emma Slack-Jorgensen
    |
    Jun 26, 2025

    The IRS continues to face major challenges in resolving identity theft-related tax return issues. As of April 15, roughly 387 identity theft cases remain unresolved, with average resolution times stretching to nearly 20 months. 

  • Taxpayer Advocate Flags Staffing Cuts and Suggests Tech Upgrades Ahead of 2026 Filing Season

    By:
    Emma Slack-Jorgensen
    |
    Jun 26, 2025
    The National Taxpayer Advocate’s latest report to Congress paints a mostly positive picture of the 2025 tax filing season, but warns of real risks ahead. 
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