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Danny Werfel, who had two years remaining on his term, said he made the decision after “significant introspection and consultation.” An AICPA statement praised Werfel for “moving the IRS in the right ...

The January webcast also included a deep dive into step 3 of the five-step revenue recognition process outlined in FASB ASC 606.

The final regulations implement Sec. 2801, added to the Code in 2008, and follow up on proposed regulations issued 10 years ago.

The SEC’s Office of the Chief Accountant is accepting applications for Professional Accounting Fellow positions that will begin in the summer of 2025.

The final regulations, which include 24 exceptions to consideration of federal tax controversies by the Independent Office of Appeals, generally follow the proposed regulations issued in October 2022.

New pilot programs will test changes to existing alternative dispute resolution (ADR) programs, including fast-track settlements (FTS), the IRS said Wednesday in Announcement 2025-6.

The regulations provide guidance on determining who is one of the “five highest compensated employees” under Sec. 162(m)(3)(C).

Almost three-fourths of CFOs in a Deloitte survey think the economy will improve over the next year. That sentiment, among finance leaders at companies with more than $1 billion in annual revenue, is ...

The IRS said it used feedback from tax advisers to write the proposed regulations, which include new multiyear tax reporting requirements.