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Corporate Tax Leaders’ Views on GenAI Have Flipped, EY Survey Finds

CPA Practice

A new survey from Big Four firm EY reveals that CFOs’ and corporate tax leaders’ stances on generative artificial intelligence have shifted over the past year—from mostly negative to mostly positive. Tax departments are expected to be the leaders for most organizations as they move quickly along the GenAI maturity curve.

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Mississippi, Texas storm victims get tax relief

Accounting Today

The current list of eligible localities is on the IRS Tax Relief in Disaster Situations page.) 3 deadline for both states applies to individual income tax returns and payments normally due on April 15, 2025. Calendar-year corporation and fiduciary returns and payments normally due on April 15, 2025. 15, 2025.

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AICPA News – July 2025

CPA Practice

from spring 2024. economy over the next 12 months, down from 47% last quarter and 67% at the end of 2024. across four sections of the Uniform CPA Examination, pass the four sections on their first attempt and have completed testing in 2024. Partnership Tax TRP Remove Treas. Overall graduate enrollment increased 1.5%

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Year-End Tax Strategies for Businesses

Withum

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. The total section 179 deduction for 2024 is $1,220,000.

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Tax Fraud Blotter: Sick excuses

Accounting Today

EDT 6 Min Read Facebook Twitter LinkedIn Email By any other name; poor Service; a saga continues; and other highlights of recent tax cases. Rockford, Illinois: Tax preparer Gretchen Alvarez, 49, has pleaded guilty to preparing and filing false income tax returns. All rights reserved.

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Tax Fraud Blotter: Getting personal

Accounting Today

West Long Branch, New Jersey: Resident Matthew Tucci has pleaded guilty to tax evasion. For 2015 and 2016, he filed tax returns that stated he owed more than $2 million in taxes for both years but did not fully pay the taxes. On these returns, Edwards admitted that he owed more than $2.5 million in taxes.

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Four ways tax and accounting professionals can start using agentic AI right now

ThomsonReuters

Instead of toggling between returns and source documents, professional-grade agentic AI pulls relevant figures, applies firm-approved formatting, and drafts the first version. This leaves more time for tax planning, client consultations, and identifying new advisory opportunities.

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