The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 70 cents per mile driven, up 3 cents from 2024.

Treasury and the IRS announced on Wednesday (Announcement 2025-2) that certain portions of future regulations finalizing proposed regulations for required minimum distributions (RMDs) for retirement ...

A delay to Jan. 1, 2026, for beneficial ownership information reporting had been included in a proposed government funding bill that has now collapsed. The AICPA has been advocating for a delay in the ...

The Financial Accounting Foundation’s review of the council, which works with FASB to support the interests of private companies in the standard-setting process, concluded that the council is serving ...

More than 3 in 5 business executives surveyed by the AICPA are at least contemplating the use of generative AI, signaling ...

The IRS released final regulations that amend the definition of “coverage month” and amend other rules in existing income tax regulations for computing the premium tax credit.

The proposal aims to address gaps in guidance for financial accounting of environmental credits and environmental credit obligations.

The IRS announces expansion of online accounts, including the tax pro account, as part of the quarterly update to its strategic operating plan.

The Professional Ethics Executive Committee’s guidance is related to recruiting services for attest clients, and the exposure draft includes a new definition and interpretation of simultaneous ...

AICPA publication offers best practices for professionals working in accordance with a set of FASB standards related to accounting and valuations in mergers and acquisitions.

The IRS is providing relief from penalties imposed solely for failure to furnish Part IV of Form 8308 for partnerships by Jan. 31, 2025, if a partnership meets certain requirements.