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IRS watchdog cites resource limits, duplication in partnership audits
The Treasury Inspector General for Tax Administration assessed a soft-letter initiative and the IRS’s examinations of 82 major U.S. partnerships.
AICPA pushes IRS to ease and expand first‑time abatement rules
The recommendations include allowing taxpayers to rely on substitute reasonable cause when appropriate, permitting them to reserve the automatic first-time abatement for future use.
IRS issues guidance on treaty application to reverse foreign hybrids
The IRS provides guidance on whether these entities qualify under a U.S. federal income tax treaty for relief from the branch profits tax.
When is a QSub election considered timely filed?
An F reorganization may raise a host of issues pertaining to timely filing of a qualified Subchapter S subsidiary election.
CPA firm M&A tax issues
Just as for other businesses, tax considerations come to the fore when CPA practices combine. This article delves into some of the possible entity deal structures for CPA firm mergers and acquisitions and the potential tax issues they present.
Return preparer reliance on third-party tax advice
Advisers must be competent, reliable, and free from conflicts of interest for signing preparers to use their advice on a return or claim for refund.
Arthur J. Dixon Memorial and Jonathan Horn Distinguished Service awards
Arthur Auerbach, CPA, CGMA, received the 2025 Arthur J. Dixon Memorial Award, and Cory Perry, CPA, received the 2025 Jonathan Horn Distinguished Service Award.
AI loses ground to pros as taxpayers rethink who should do their taxes
Taxpayers are shifting back toward human tax professionals, with trust in AI for filing slipping across every generation, survey shows.
Why LIFO, why now?
The convergence of accelerating inflation and heightened tariff costs creates optimal conditions for adopting LIFO, but taxpayers need to understand the benefits and act promptly.
Representing taxpayers with IRS identity protection and theft victim assistance
Tax-related identity theft remains widespread and a potentially serious problem for victims, for whom authorized representatives can provide vital help.
White House makes recommendations on digital asset transactions
A presidential working group’s report advocates the United States implement the OECD’s Crypto-Asset Reporting Framework, an international reporting regime, as well as guidance by the IRS and Treasury.
Deducting corporate charitable contributions
Some key limitations and
requirements differ from those
with respect to individuals.
IRS proposes using NAICS to determine lines of business for certain fringe benefit exclusions
The North American Industry Classification System, already in use for other tax purposes, replaces a specified manual that has not been updated since 1974.
IRS Advisory Council report defends workers, criticizes budget and staff cuts
In its annual report, IRSAC said the IRS has been through “an extraordinarily difficult year” with budget and staff cuts while preparing for numerous tax law changes. The report also noted tax practitioners’ prolonged wait times when contacting the IRS.
AICPA tax policy and advocacy successes: 2025 highlights
The AICPA’s Tax Division volunteer committees and technical resource panels can point to many positive results last year from its advocacy to Treasury, the IRS, and Congress for law changes and administrative guidance.
AICPA calls on IRS to automate Sec. 1033 extension requests
The recommendation aims to cut delays that leave taxpayers uncertain about disaster related replacement deadlines for property.
Key international tax issues for individuals and businesses
U.S. persons abroad and foreign persons living in or with connections to the United States may have responsibilities for filing any of an array of returns and information forms.
Revisiting Sec. 1202: Strategic planning after the 2025 OBBBA expansion
This powerful vehicle for excluding gain on qualified small business stock gains even more traction under new legislation.
Managing tax practices in response to new legislation
Firms can follow these guidelines to position themselves as the trusted advisers clients need to navigate the many tax law changes in H.R. 1.
Advocacy for state disaster tax relief
The AICPA advocates for uniform disaster-related tax filing and payment relief provisions.
