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Founded in 1887, the AICPA represents the CPA profession nationally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the profession’s technical and ethical standards.

The AICPA’s founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.

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• Potential effects of Loper Bright and Corner Post on tax practitioners  (August 22, 2024)
  
• Employers now have interim guidance on student loans and retirement plans  (August 20, 2024)
  
• What a corporate tax rate hike would mean  (August 19, 2024)
  
• Businesses with dubious ERC claims have another chance with the IRS  (August 15, 2024)
  
• IRS releases updated draft of Form 1099-DA for digital assets  (August 13, 2024)
  
• Advice for avoiding financial fraud in retirement  (August 12, 2024)
  
• ERC disallowance letters go to 28K businesses, moratorium adjusted  (August 8, 2024)
  
• Tax practitioner complaint leads to review of advocate phone service  (August 5, 2024)
  
• Third Circuit rules taxpayer’s claim is not moot  (August 1, 2024)
  
• D.C. Circuit reverses Tax Court on assessment of foreign entity ownership reporting penalties  (August 1, 2024)
  
• What not-for-profits need to know about Unrelated Business Income Tax UBIT  (August 1, 2024)
  
• Senate rejects legislation that would expand child tax credit and restore business tax breaks  (August 1, 2024)
  
• Melancon: Supreme Court decisions are ‘big deal’ for tax pros  (August 1, 2024)
  
• 5 new warning signs of a bad claim for pandemic-era employee retention credit ERC  (July 29, 2024)
  
• Final and proposed regulations issued on retirement plan required minimum distributions RMDs  (July 18, 2024)
  
• Proposed regulations address interest recapture on excess COVID-19 credits  (July 3, 2024)
  
• Final regulations issued for 1% excise tax on corporate stock repurchases  (July 2, 2024)
  
• IRS issues final regulations on reporting requirements for digital assets  (July 1, 2024)
  
• ‘Unconscionable’ delays in ID theft cases mar IRS tax season: report  (June 26, 2024)
  
• Final regulations issued on conservation easement deduction disallowance  (June 24, 2024)
  
• Exceptions to penalty on early retirement plan distributions outlined  (June 21, 2024)
  
• Supreme Court issues narrow opinion upholding Sec. 965 transition tax  (June 20, 2024)
  
• Requirements cover green energy incentive wage and apprenticeship requirements  (June 18, 2024)
  
• IRS moves to end ‘shell game’ of basis-shifting transactions  (June 17, 2024)
  
• IRS gives another limited estimated corporate AMT underpayment waiver  (June 13, 2024)
  
• Supreme Court: Insurance proceeds increase corporation’s estate tax value  (June 7, 2024)
  
• Expert warns: IRS has what it needs to pursue more audits  (June 6, 2024)
  
• Practitioner service improvements part of IRS strategic operating plan  (June 1, 2024)
  
• Bias possible in IRS program for auditing refundable credit returns  (May 31, 2024)
  
• IRS free filing program to become permanent with expanded scope  (May 30, 2024)
  
• Tax planning tips for high-income individuals  (May 24, 2024)
  
• AICPA makes recommendations to IRS on next Priority Guidance Plan  (May 24, 2024)
  
• IRS extends Free File tax program  (May 22, 2024)
  
• IRS warns about more tax scams  (May 17, 2024)
  
• Regulations finalize PTIN fees for tax return preparers  (May 14, 2024)
  
• Health Savings Account (HSA) inflation-adjusted maximum contribution amounts for 2025 announced  (May 9, 2024)
  
• Foreign trust transactions and large gifts addressed in proposed regulations  (May 8, 2024)
  
• Practitioner service improvements part of IRS strategic operating plan  (May 3, 2024)
  
• Automatic accounting method changes list updated by IRS  (April 30, 2024)
  
• Final regulations issued for clean energy credit transfers  (April 25, 2024)
  
• The U.S. Department of Labor (DOL) finalizes broad ‘retirement security rule’  (April 24, 2024)
  
• Draft of Form 1099-DA for reporting digital asset transactions released  (April 23, 2024)
  
• IRS has mixed results from ‘ghost employer’ enforcement efforts  (April 22, 2024)
  
• IRS waives required withdrawals from certain inherited IRA accounts  (April 19, 2024)
  
• IRS: Cost of businesses fooled by ERC scams still rising  (April 16, 2024)
  
• IRS grants limited waiver for underpayment of estimated corporate AMT  (April 15, 2024)
  
• Dirty Dozen list ends with easements, digital assets, and more  (April 12, 2024)
  
• Proposed regulations issued for 1% excise tax on corporate stock repurchases  (April 10, 2024)
  
• Two home energy rebates not includible in gross income, IRS says  (April 8, 2024)
  
• Supreme Court to decide estate tax impact of life insurance in closely held businesses  (April 3, 2024)
  
• Foreign earned income and housing exclusion denied  (April 1, 2024)
  
• Dirty Dozen list from IRS opens with phishing, smishing scams  (March 28, 2024)
  
• IRS: $1 billion in 2020 tax refunds still unclaimed  (March 27, 2024)
  
• Digital asset playbook: Sec. 6045 reporting requirements  (March 21, 2024)
  
• Taxpayer notice of third-party contact shortened under proposed regulations  (March 21, 2024)
  
• Retirement fears do not play out in reality, survey shows  (March 15, 2024)
  
• Why are there fewer accountants? What the research says (Podcast)  (March 7, 2024)
  
• Federal court holds Corporate Transparency Act unconstitutional  (March 5, 2024)
  
• What kind of deduction is a hobby expense?  (March 1, 2024)
  
• IRS renews focus on targeting high-income nonfilers  (February 29, 2024)
  
• Why you should plan for the 2026 tax season now  (February 28, 2024)
  
• IRS announces delay for Form 1042 e-filing requirement  (February 28, 2024)
  
• IRS chief puts tax evasion tally by the wealthy at $150 billion  (February 22, 2024)
  
• IRS to begin audits of personal, business use of corporate jets  (February 21, 2024)
  
• On Form 1099-K delays, Werfel says IRS must protect taxpayer rights  (February 16, 2024)
  
• 7 warning signs that an ERC claim is questionable, from the IRS  (February 13, 2024)
  
• Electronic Filing Identification Numbers (EFINs) scam targets tax professionals  (February 9, 2024)
  
• Form 1099-K frequently asked questions revised  (February 8, 2024)
  
• Auto depreciation limitations increase  (February 7, 2024)
  
• House OKs $78B tax bill with changes to ERC and child tax credits  (February 1, 2024)
  
• Digital asset question added to more forms for 2023 tax returns  (January 26, 2024)
  
• Beneficial ownership information (BOI) reporting and unauthorized disclosure penalties increased  (January 25, 2024)
  
• Taxes in retirement: From A to Z, deferred to free  (January 24, 2024)
  
• Simpler IRS notices are coming  (January 23, 2024)
  
• Reporting of digital assets as cash delayed until IRS issues regulations  (January 17, 2024)
  
• New bipartisan proposal would boost child tax credit  (January 16, 2024)
  
• IRS enforcement efforts collect $520 million from wealthy taxpayers  (January 12, 2024)
  
• Taxpayer advocate: IRS again fails tax pros with PPS call answer rate  (January 10, 2024)
  
• IRS to begin accepting and processing 2023 tax returns on Jan. 29  (January 9, 2024)
  
• Stock-based compensation: Tax forms and implications  (January 4, 2024)
  
• Draft form, instructions posted for corporate alternative minimum tax (AMT)  (January 3, 2024)
  

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Nicholas G. Vardalos & Company is a full service accounting firm serving clients throughout the Chicago metropolitan area, northwest Indiana and southwest Michigan.

CPA News 2024