The Iowa Society of CPAs announced Carrie Steffen as its next CEO, effective May 19. Steffen succeeds Dawn Latham, who resigned from the role in November. Ardis Kelley, former executive at the Federal Home Loan Bank of Des Moines and ISCPA member, is serving as interim chief executive through May
President Trump’s “big, beautiful bill” extending the expiring provisions of the Tax Cuts and Jobs Act and adding more tax breaks is making progress in Congress, with key moves expected in May after lawmakers return from recess. Earlier this month, House Republicans narrowly passed a budget blueprint echoing the budget
Accounting practice management software provider Canopy announced a $70 million Series C funding round. Viking Global Investors led the round, with continued participation from existing investors Ten Coves Capital, Ankona Capital, Pelion Venture Partners and Tenaya Capital. The announcement follows the success of a $35 million round in May 2024.
Baker Tilly and Moss Adams have made their merger official, combining to form what promises to be the sixth largest CPA firm in the U.S. Rumors of the impending merger began to leak out earlier this month. The two firms plan to combine under the Baker Tilly name. Moss Adams
Gary Shapley, who was named only days ago as the acting commissioner of the Internal Revenue Service, was removed by President Trump and replaced by Deputy Treasury Secretary Michael Faulkender amid a power struggle between Treasury Secretary Scott Bessent and Elon Musk. The New York Times reported that Bessent was
Medius, an AP automation solutions provider, announced the appointment of John Seery as its chief technology officer. In his role, Seery will be responsible for driving greater efficiencies within Medius’s technology stack and ensuring the company continues to implement innovative use of intelligent capabilities including AI and machine learning in
Patrick Gordon Patrick Gordon was appointed chief legal officer at Carr, Riggs & Ingram, New York. Laurence Scot was hired as a partner in not-for-profit services at Prager Metis, New York. The New York State Society of CPAs announced that its Moynihan Scholarship Fund is accepting applications for its accounting
The Treasury Department and the Internal Revenue Service are planning to withdraw regulations that labeled basis-shifting transactions among partnerships and related parties as “transactions of interest” akin to tax shelters and stop imposing penalties on them. In Notice 2025-23, the Treasury and the IRS said Thursday they intend to publish
The Trump administration is reportedly making plans to shut down the Internal Revenue Service’s Direct File free tax prep system next year. The Associated Press reported Wednesday about the plans, which come amid widespread layoffs at the IRS. Elon Musk had posted on X in February that he had “deleted”
IRS happenings; minimal talk of de minimis; new blog on the block; and other highlights from our favorite tax bloggers. Lotus operandi Welcome to the dance Opportunities and complications Taxpayer Advocate Service (https://www.taxpayeradvocate.irs.gov/taxnews-information/blogs-nta/): Proposed voluntary withholding agreements in the Taxpayer Assistance and Service Act could change the game for independent