A taxpayer could not deduct purported business expenses associated with writing and research activities held to be not engaged in for profit under Sec. 183. Facts: For tax years 2018 through 2020, ...

The Fifth Circuit Court of Appeals on Monday granted a Justice Department motion to lift an injunction imposed by a district court ruling. Hours later, FinCEN announced, in light of the court decision ...

Three days after a panel of judges granted a government motion to lift the injunction, another panel said it was reinstating a lower court’s ruling. An AICPA statement urged CPAs to be prepared to ...

Congress did not include a delay to the beneficial ownership information reporting requirement in its government funding bill. The AICPA has been advocating for a delay.

Treasury and the IRS on Friday proposed regulations to update the rules that govern practice before the IRS. These rules are contained in Treasury Circular 230, Regulations Governing Practice Before ...

A comment letter sent Thursday urges the SEC, which oversees the PCAOB, to “refrain from approving” final rules issued last month that call for certain PCAOB-registered public accounting firms to ...

The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 70 cents per mile driven, up 3 cents from 2024.

Barry Melancon makes an impression when he talks. He honed the skill to grasp big concepts, recall details, and communicate them with poise at the dinner table growing up as the youngest member of a ...