Education Dept. agrees to student debt and tax relief
The Trump administration agreed to procedures for student debt relief so borrowers who have their loans canceled this year don’t get hit with a huge tax bill.
AICPA wants IRS safe harbor for reporting tips, overtime
The American Institute of CPAs is asking for more flexibility for taxpayers who wish to claim tax deductions for overtime and tip income under the OBBA.
SAP rolls out new agents
SAP announced new specialized AI Joule Agents (named for its generative AI copilot Joule) that handle travel and expense processes as well as core finance functions.
CPA firm settles with NY AG over data breaches
Wojeski & Co. has reached a $60,000 settlement with New York Attorney General Letitia James after it was hit by two data breaches and ransomware attacks.
5 key questions to calculate the new alternative minimum tax
The One Big Beautiful Bill Act will boost the number of filers who must calculate their AMT. But that doesn’t mean they’re all going to have to pay it.
Armanino acquires Keystone
Top 25 Firm Armanino acquired Keystone Business Services, an Oracle NetSuite provider.
OBBBA and the repurposing of life insurance portfolios
Tax advisors can play a significant role in alerting clients to the availability of various options and strategies for an unneeded life insurance death benefit.
IFAC opens doors to accounting with new principles
The International Federation of Accountants has released a set of principles with the goal of widening access to the accounting profession.
Whistleblowers reach settlement with IRS, DOJ over Hunter Biden case
Gary Shapley and Joseph Ziegler reached settlements with the IRS and the Justice Department, and their lawsuit against Biden’s attorney was dismissed by a judge.
Game developers leverage R&D tax breaks
Video game developers are benefiting from research and development tax credits and recent changes in the rules for deducting R&D expenses.