Treasury says it won’t enforce BOI fines or penalties against U.S. citizens, businesses
A news release says Treasury won’t enforce fines or penalties against U.S. citizens or domestic reporting companies or their beneficial owners. Treasury will also issue proposed rulemaking to limit beneficial ownership information reporting to foreign reporting companies only. Read More
Remote control: 3 tips from a firm founder and remote-work trendsetter
Both quantity and quality of communication are crucial to the success of a fully remote work model, a leader with immense experience in the space shared at the AICPA Personal Financial Planning Summit 2025. Read More
Top 20 firm CohnReznick executes the latest private-equity deal
The partnership, continuing an industrywide trend, necessitates the creation of an alternative practice structure featuring a new CPA firm for attest services and a separate firm for nonattest services. Read More
fincen-extends-boi-reporting-deadline-halts-enforcement
The Financial Crimes Enforcement Network (FinCEN) will extend the current March 21 beneficial ownership information (BOI) reporting deadline, has suspended BOI enforcement, and will develop new regulations it says will reduce "regulatory burden," the agency said Thursday. The decision to pause enforcement prioritizes "reporting of [...]
Phish, smish, and spear phish: IRS releases 2025’s Dirty Dozen
The annual list, which began in 2002, lists 12 ways scammers try to gain confidential information from tax professionals or trick taxpayers. Read More
PEEC releases final revised guidance for Sec. 529 plans
The revisions focus on monitoring challenges and independence threats related to an account owner’s financial interest in Sec. 529 plans. Read More
Acting IRS commissioner steps down
The agency’s COO will take over for Douglas O’Donnell, who has worked for the IRS since 1986. Read More
Pathway to 150 hours enters year 2 with positive reviews
The AICPA and NASBA launched the Experience, Learn and Earn program, offered through Tulane University, to provide a simple, cost-effective pathway to 150 credit hours. Read More
The cost of doing business: Pay increases may be muted in 2025
A survey of CFOs and finance leaders across all industries reveals that while most still see value in pay bumps for staff, increases may be slowing. Read More
Thousands of workers in IRS small business division to lose jobs
An email sent to managers on Wednesday said that more than 3,500 probationary workers in the Small Business/Self-Employed division are expected to be notified Thursday that they are no longer employed with the IRS. Read More
AICPA ethics committee corrects authoritative guidance
The Professional Ethics Executive Committee updated a list of examples related to meeting independence standards when providing recruiting services for attest clients. Read More
BOI injunction lifted; FinCEN promises 30-day filing delay
A court ruling means that millions of small businesses need to be prepared to file beneficial ownership information reports. Read More
