Taxes May 21, 2025
Trump’s ‘Big, Beautiful’ Tax Bill Will Add $3.8 Trillion to Deficit, CBO Says
An analysis of the bill by the Congressional Budget Office also found that the lowest-income households will see their resources drop.
Technology May 21, 2025
New AI Tax System Integrates with Existing Systems and Workflows to Automate Tax Preparation
Filed automates the complete lifecycle of a tax return–from structuring diverse client documents to validating returns and proactively flagging anomalies based on firm-defined rules.
Accounting May 21, 2025
Philadelphia-Area Accountant Pleads to Filing Nearly $220,000 in False Tax Reports
James J. Sirleaf, 65, of Darby, PA, pleaded guilty to 15 counts of aiding and assisting in the preparation of false income tax returns and three counts of filing false personal income tax returns for himself.
Taxes May 21, 2025
AICPA is Not Pleased with GOP’s ‘Big, Beautiful’ Tax Bill
The letter also outlines several provisions included in the bill that are supported by the AICPA.
Taxes May 20, 2025
Senate Unanimously Passes No Tax on Tips Act
The bill, which eliminates federal tax on tips for hospitality workers and servers, passed via unanimous consent on Tuesday after Democratic Nevada Sen. Jacky Rosen brought it to the floor and no other senator blocked it.
IRS May 20, 2025
Trump IRS Nominee Billy Long Grilled Over Ties to Fraudulent Tax Credits
The former Missouri lawmaker acted as a pitchman for tax credits that didn’t exist, Senate Finance Committee Democrats said.
Taxes May 20, 2025
Trump Doesn’t Satisfy GOP Holdouts as Tax-and-Spending Bill Talks Drag On
Republican leaders had hoped the high-profile presidential visit would close deal on Trump-backed “big, beautiful” filibuster-proof reconciliation bill Tuesday.
Taxes May 20, 2025
AICPA Comments on Proposed Regulations Regarding the Previously Taxed Earnings and Profits and Related Basis Adjustments Under Sections 959 and 961
The proposed regulations provide rules addressing various aspects of the PTEP regime, such as increases and decreases to basis of stock, foreign currency gain or loss, and allocation of foreign tax credits.
Taxes May 20, 2025
Trump Pushes Republican Lawmakers to Back Sprawling Tax-and-Spending Bill
President Trump headed to Capitol Hill Tuesday to push squabbling Republican members of Congress in person to set aside differences and pass his sprawling budget bill.
Technology May 20, 2025
IRIS Software Group Announces Strategic Investment in AI-Powered Tax Management Platform, Instead
The company is now rapidly expanding its reach, actively securing authorization across all U.S. states and major U.S. cities to offer truly nationwide filing.
Taxes May 19, 2025
White House Pushes for Quick Approval of ‘Big, Beautiful Bill,’ But Key Hurdles Remain
House Republican leadership is pressing ahead toward a vote on landmark tax-and-spending legislation that would codify President Donald Trump’s agenda this week.
Taxes May 19, 2025
Trump Wanted to End Social Security Taxation, But House Republicans Have Other Ideas
House Republicans have included a proposal in their tax bill to provide a $4,000 federal income tax deduction for lower- and middle-income seniors 65 and over.