Samuel Corum/Bloomberg With the federal government shutdown over, the Internal Revenue Service announced on Friday that it has resumed normal operations. While some functions of the agency — including preparing for the upcoming tax season — had continued throughout the shutdown, most were limited after the first week, and restarting
The “Staying Independent” panel at the 2025 PE Summit: (l to r) Bob Lewis, Jeff Barbacci, David Bundy and Jim Meade With every day seemingly bringing word of a new private equity investment in the accounting profession, many accountants are declaring their determination to remain independent — but that’s not
Intuit has announced a multi-year, strategic partnership with OpenAI to develop branded finance apps that can be accessed directly within ChatGPT, a deal worth over $100 million. “We are taking a massive step forward to fuel financial success for consumers and businesses, unlocking growth for both companies,” said Sasan Goodarzi,
The Internal Revenue Service and the Treasury Department released interim guidance Thursday giving new tax benefits to banks and other lenders that provide loans secured by rural or agricultural real property. In Notice 2025-71, the IRS and the Treasury provided interim guidance on a provision of the One Big Beautiful
Economic pessimism is on the wane among audit partners, though they’re not feeling as confident as they were last year, according to a new survey Tuesday from the Center for Audit Quality. The CAQ’s Fall 2025 Audit Partner Pulse Survey found that economic pessimism declined from 44% in the spring
The Treasury Inspector General for Tax Administration released its plans Monday for the investigations it plans to do next year of the Internal Revenue Service, including the impact of the workforce reductions carried out in the Trump administration and the elimination of paper checks. TIGTA released its Fiscal Year 2026
Donald TrumpAl Drago/Bloomberg President Donald Trump pulled Donald Korb as his nominee to be the IRS’s top attorney days after getting blowback from a prominent member of his political movement, derailing plans to confirm the longtime tax lawyer next week. Trump alerted followers to his decision to withdraw the nomination
Interest rates will remain the same for the calendar quarter beginning Jan. 1, 2026, according to the Internal Revenue Service. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily. For corporations, the rate for overpayments will be 6%, while the rate will be 7%
Small-business accounting platform Xero has announced a 20% increase in operating revenue to bring its total to NZ $1.2 billion for the first half of its fiscal 2026. Xero CEO Sukhinder Singh Cassidy, in an email, attributed much of the results to a growing user base as well as increases
Ultimately, it all comes down to data. This is according to Chris Millet, a Baker Tilly director specializing in client engagement and managed services during a talk Thursday at the Finance and Accounting Technology Expo in New York City. While there are powerful technology solutions available to professionals today, especially