Nonprofits fear IRS will revoke tax exemptions
Nonprofit organizations are worried the IRS and the Treasury Department will take away their tax-exempt status and even sue or prosecute them.
IRS offers guidance on recovering dyed fuel excise taxes
The IRS and the Treasury posted temporary regulations and a notice of proposed rulemaking outlining a new way to recover federal excise taxes paid on dyed fuel.
IFRS Foundation updates standard-setting handbook
The International Financial Reporting Standards Foundation revised its Due Process Handbook, outlining the steps used for developing IASB and ISSB standards.
KPMG closes U.S. federal audit practice, trims advisory staff
KPMG is shutting down its audit practice for the federal government after losing a Pentagon contract, and laying off 4% of its U.S. advisory practice.
Kreston forms legal group alongside tax group
Kreston Global, an international accounting network based in London, has created a new Global Legal Group, uniting legal professionals from across the network, operating in coordination with the network’s Global Tax Group.
Small businesses resilient in fuel crisis, but challenges loom
The latest Xero Small Business Insights (XSBI) data reveals a surprising trend: despite the fuel crisis erupting in March, small business sales held firm. But this resilience is fragile; the longer the crisis persists, the greater the pressure on profit margins and the broader economy. What happened to fuel prices in March? During March, average …
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House passes bevy of tax-related bills
A group of bipartisan bills moved through the House this week that would make changes in IRS administration, customer service, taxpayer privacy, tax return processing, as well as disaster relief and tax breaks.
AI can boost productivity, but who sustains the customer economy?
AI can produce analysis, but it can’t build trust or relationships. If students aren’t trained in those areas, they’ll be unprepared for roles that matter most.
Why you’ll want to swing by the Xero stand at Accountex 2026
Accountex London has always been where the future of accounting shows up a little early – and 2026 will be no exception. There’s nothing quite like the energy of catching up with peers, discovering new tools, and seeing what’s shaping the future of the industry up close. This year, we’re not just talking about the …
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Republicans eye capital gains tax cut to ease voters’ anxieties
Indexing capital gains to inflation would allow taxpayers to adjust the value of an asset to account for rising prices across the economy.