Accounting July 21, 2025
In a letter sent to Treasury and the IRS earlier this month, the AICPA requested additional guidance related to catch-up contributions designated as Roth contributions within Section 603 of the SECURE 2.0 Act of 2022.
Payroll July 8, 2025
Justices let President Trump move ahead with plans to dramatically reduce the size of the federal government, lifting a court order that had blocked several departments and agencies, including the IRS, from slashing their workforces.
Taxes July 8, 2025
In an executive order signed on July 7, President Donald Trump instructed the Treasury Department to strictly enforce the termination of the clean energy production and investment tax credits in the tax code for wind and solar facilities.
IRS June 12, 2025
A coalition representing tax professionals urged the Treasury Department in a letter to take immediate steps to preserve core IRS functions—for both taxpayers and practitioners—amid workforce reductions at the tax agency.
Taxes June 12, 2025
The Treasury Department is considering changing rules to revoke tax-exempt status for colleges that consider race in student admissions, scholarships, and other areas.
Taxes April 23, 2025
Lawrence Summers said that the Trump administration’s moves to downsize the IRS, along with other changes, are likely to incentivize reduced tax-payment compliance.
IRS April 19, 2025
Treasury Secretary Scott Bessent appointed his deputy, Michael Faulkender, as the next acting chief of the IRS after reports the current leader of the agency, Gary Shapley, had been installed at the urging of Elon Musk without Bessent’s knowledge.
Taxes April 8, 2025
The IRS will give taxpayer data about immigrants to U.S. authorities conducting criminal investigations, saying it will support President Donald Trump’s pledge to deport people illegally in the U.S.
IRS April 7, 2025
IRS employees who didn't accept the Trump administration's buyout offer earlier this year are being given one more chance to take the offer as more job cuts loom at the tax agency.
Small Business March 3, 2025
As you can imagine, there have been many views expressed on the Treasury Department's announcement Sunday evening that it will no longer enforce the Corporate Transparency Act or the associated beneficial ownership information reporting requirements.
IRS February 18, 2025
Treasury Secretary Scott Bessent said Americans “don’t have to be concerned about any of this,” referring to attempts by the DOGE team to access a broad range of taxpayer data, including on individuals.
Small Business February 10, 2025
According to the U.S. Mint, the cost for creating a penny was 3.69 cents each last year, and the coins accounted for about half of the non-folding money shipped out.