Journal of Accountancy
- BOI reporting deadline extension passes US House February 12, 2025The bill, which provides a deadline of Jan. 1, 2026, for an estimated 32 million small businesses to file beneficial ownership information reports, comes as the BOI requirements are mired in court cases.
- Lower auto depreciation limits issued for first time in at least 3 years February 12, 2025The IRS issued the 2025 depreciation limitations for passenger vehicles, including those for which bonus depreciation is applied.
- PCAOB withdraws proposed rules requiring extensive firm and engagement metrics February 12, 2025The AICPA had urged the SEC to refrain from approving the rules, warning they would “pose significant challenges” to small and midsize firms. An AICPA statement said that the “PCAOB’s decision not to move forward with the rules is the right one.”
- SEC pauses legal defense of its climate-related disclosures rule February 11, 2025The acting SEC chair, who voted against the rule last year, cites “changed circumstances” while calling the rule “deeply flawed.”
- Melancon named to Accounting Hall of Fame February 10, 2025Barry Melancon, who retired as CEO of AICPA & CIMA in December, will be one of four inductees into the Accounting Hall of Fame in August.
- BOI penalties increase while reporting rules remain on hold February 7, 2025The Financial Crimes Enforcement Network list includes inflation-adjusted amounts for the civil monetary penalties for violating beneficial ownership information reporting rules.
- FinCEN hints at BOI reporting changes in court filing February 7, 2025If an injunction is lifted, FinCEN will extend BOI filing deadlines for 30 days and reassess the types of companies required to file beneficial ownership information reports, the government said in its filing in a Texas case.
- IRS delays resignation offer for critical tax season workers February 5, 2025IRS employees received an email Wednesday advising them that workers in “critical filing season positions” must work until mid-May.
- Report: Undergraduate enrollment in accounting on the rise February 5, 2025The fall semester saw a 12% increase in accounting enrollment from the previous year to the highest figure observed by the National Student Clearinghouse Research Center in four years.
- Former NFL player making an impact as a CPA February 3, 2025Richie Brockel, whose football career included involvement in a pair of unforgettable trick plays, shares his thoughts on the Super Bowl and discusses the superpower that having a CPA license has afforded him post-football.
- AICPA supports Senate discussion draft to help taxpayers, preparers January 30, 2025An AICPA news release mentioned 13 provisions in the bipartisan draft that have its strong support, including ones dealing with tax filing by victims of disasters, electronic notices, and callback technology.
- Financial planning aspects of unretiring January 27, 2025Reentering the workforce after having officially retired from it can raise a host of financial planning questions, especially for individuals whose main motivation for “unretiring” is economic.
- Executive order’s hiring freeze causes IRS to cancel some job offers January 24, 2025The IRS said President Donald Trump’s executive order calling for a hiring freeze caused it to rescind all jobs offered with a start date after Feb. 8.
- FinCEN says BOI reporting remains on hold January 24, 2025The Financial Crimes Enforcement Network (FinCEN) said Friday that while the U.S. Supreme Court did stay one nationwide injunction, one issued by a different judge in a separate case remains in effect.
- FASB proposes series of changes to accounting standards January 22, 2025The board seeks comments on an Accounting Standards Update that addresses 34 issues in GAAP.