Withum

MAY 12, 2025

On May 10, 2025, New York Governor Hochul signed the 2025-2026 budget bill into law. Federal Partnership Audit Conformity The 2025-2026 budget also conforms New York to the federal partnership audit rules. Let’s Chat The post New York Governor Signs 2025-2026 Budget That Includes Business Tax Hikes appeared first on Withum.

New York 72

New York business tax Tax Transportation 72

RogerRossmeisl

JUNE 15, 2025

In 2026, this will drop to 20%, eventually phasing out entirely by 2027.) Here’s a look at the current rules and proposed changes for five key tax provisions and what they could mean for your business.

CPA 165

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CPA Practice

JUNE 13, 2025

The recommendations come from the AICPA’s Tax Technical Resource Panels and cover 10 areas, including corporations/shareholders, employee benefits, and exempt organizations.

Tax 90

Tax accounted Account accountant 90

RogerRossmeisl

FEBRUARY 23, 2025

Its generally limited to eligible employees who begin working for the employer before January 1, 2026. The tax credit is generally worth as much as $2,400 for each eligible employee (higher for certain veterans and long-term family assistance recipients).

Tax 213

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CPA Practice

MAY 20, 2025

Social Securitybeneficiaries are expected to receive the lowest cost-of-living-adjustment since 2021, according to the latest forecast from theSenior Citizens League.

payroll 94

payroll 94

Withum

JULY 4, 2025

Beginning in 2026, increases the deduction to $40,400 per year (50% of that amount for married filing separately), subject to the reduction above, with income limitations of $505,000 (50% of that amount for married filing separately).  A MFJ whose modified AGI exceeds $600,000 will be limited to a $10,000 deduction. 

income tax 119

income tax Tax Kentucky Agriculture 119

Xero

DECEMBER 4, 2024

The requirements for small businesses and their accountants are due to be phased in over 2026 and 2027. While this law directly targets businesses with more than 100 employees, the impact will inevitably trickle down to their suppliers, who may need to provide emissions data to them.

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Account accountant accounted audit 97

Withum

NOVEMBER 25, 2024

These changes are set to revert to pre-TCJA levels beginning in tax year 2026 without direct intervention by Congress and knowing the changes allows for better planning to defer itemized deductions in favor of the higher standard deduction today or maximize the deductions now under the present ruleset.

Tax 106

Tax income tax Real Estate tax return 106

Going Concern

JULY 3, 2025

First contracted with EY for all their audit needs in 2016, Shell had been planning to retain EY for another ten years, subject to shareholder approval at the company’s 2026 annual meeting, but we suspect there may be a different outcome after this. Get in there KPMG, now’s your chance.

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Accounting Today

JULY 9, 2025

EDT 1 Min Read Facebook Twitter LinkedIn Email Andrew Harrer/Bloomberg Tax year 2026 and filing season 2027 are the target date for retiring the Filing Information Returns Electronic, or FIRE, system. FIRE will not be available for submissions in filing season 2027.

Tax 106

Tax tax preparation Technology corporation tax 106

Withum

MAY 21, 2025

The existing regulations are set to expire on December 31, 2026. The House proposal extends the program by modifying the deferral period for investments made after December 31, 2026, and before January 1, 2034. Under the revised rules, deferred capital gains would be recognized on December 31, 2033, instead of December 31, 2026.

Real Estate 119

Real Estate Tax CPA Washington 119

Withum

JANUARY 22, 2025

This updated schedule applies to single and multiemployer plans for the 2025 plan year only, and the premium due date will default to its normal schedule in 2026. This means that for all 2025 plan years, premium payments are due one month earlier than the Normal Premium Due Date (e.g.

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CapataCPA

JULY 11, 2025

Energy Tax Incentives and Limitations Tighter Deadlines for Wind and Solar Projects To qualify for energy tax credits, projects must begin construction before July 4, 2026 and be placed in service by the end of 2027. CFC Rules and Look-Through Provisions Favorable rules for U.S.

Tax 52

Tax Real Estate Construction business tax 52

Accounting Today

JUNE 23, 2025

Most of the questions deal with Statement 103 , the financial reporting model improvements standard that GASB issued last year, which will take effect in 2026. He hopes to issue an exposure draft, with another round of due process on a document written more like a final standard in early 2026 with a final standard expected in early 2027.

accounting standards 101

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CTP

OCTOBER 30, 2024

With the implementation of TCJA, that deduction has been suspended until 2026. The deduction covered the portion of these expenses that exceeded 2% of their adjusted gross income. If the TCJA provision is not extended, the opportunity to claim a deduction could become available within less than two years.

Tax 97

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ThomsonReuters

DECEMBER 19, 2024

In addition, brokers will be required to report gross proceeds from digital asset sales starting in 2026 for transactions occurring in 2025; and report tax basis information for certain digital asset sales made in 2026, beginning in 2027.

tax planning 52

tax planning Tax accounting and finance Technology 52

Menzies

OCTOBER 30, 2024

It is worth noting the 40% is a one year drop that from 2026-27, they intend to introduce two permanently lower tax rates for retail properties with the intention that is paid for by a higher multiplier for the most valuable properties.

Retail 59

Retail E-commerce chartered accountant Tax 59

ThomsonReuters

NOVEMBER 8, 2024

By 2026, all but the smallest companies operating in the EU will be subject to CSRD rules, and it is widely believed that the CSRD will soon serve as the framework for an emerging global standard on sustainability reporting.

Technology 118

Technology accounting and finance Government Finance 118

ThomsonReuters

JULY 10, 2025

Transition timeline: The reform rolls out from 2026, with full implementation by 2033. The transition period (2026-2032) is the most hazardous phase. Transition milestones: 2026 (reform begins), 2029-2033 ( gradual ICMS/ISS phase out ), 2033 (full implementation). Levelling the playing field across Brazil’s vast territory.

Tax 52

Tax Non-Profits Technology audit 52

CPA Practice

JUNE 25, 2025

Despite calling this past tax filing season one of the most successful in recent memory, National Taxpayer Advocate Erin Collins warned there are potential risks heading into the 2026 tax season and that "it is critical that the IRS begin to take steps now to prepare."

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Tax income tax 104

Accounting Today

JULY 9, 2025

Accounting Technology Fraud prevention Fraud MORE FROM ACCOUNTING TODAY Practice management BDO names Matt Becker next CEO Matthew Becker, BDO USAs national managing principal of tax, has been ratified by a principal-wide vote to succeed Wayne Berson as the firms next CEO, effective July 1, 2026.

Technology 71

Technology Account accountant accounted 71

Accounting Insight

MAY 21, 2025

Almost half of UK sole traders at risk of non-compliance, feeling unprepared for income tax changes due April 2026. Nearly two in five (37%) of 2534-year-olds felt they were very prepared for April 2026, compared to 23% of those aged 35-44, and only 10% of 4554-year-olds. The threshold drops to 30,000 in 2027 and to 20.000 in 2028.

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Account accountant accounted income tax 52

Withum

JUNE 26, 2025

Under the existing OZ structure, investors who hold the Opportunity Fund investment for five years as of December 31, 2026, are able to decrease recognized gain by 10% due to an increase in basis, or if held for seven years, receive a decrease recognized gain by 15%. The House proposal regarding OZ 2.0 Under OZ 2.0,

Real Estate 94

Real Estate accounting and finance audit Tax 94

Accounting Insight

JUNE 6, 2025

From April 2026, MTD will apply to sole traders and landlords earning over £50,000, expanding to those earning over £30,000 from April 2027 and over £20,000 from April 2028. MTD in a nutshell: What’s changing and when The timeline for tax digitalisation is now firmly established after years of discussion.

Tax 66

Tax Technology Non-Profits income tax 66

Going Concern

JANUARY 10, 2025

This improves existing interstate mobility laws by evaluating candidates on their individual professional status rather than what state they are licensed in. Many states are also working to adopt similar language to Ohio.

Ohio 63

Ohio Minnesota cpas CPA 63

Going Concern

DECEMBER 3, 2024

More than half of the new roles will be based outside of London. Read more @TheTimes @tomhtimes [link] pic.twitter.com/oUUcf3csT8 — Hywel Ball (@HywelBallEY) April 5, 2022 Note on the dates: Project Everest started making the news in June of 2022 and fell apart in early 2023.

Legal 71

Legal accounting firms Account accountant 71

ThomsonReuters

MARCH 3, 2025

In Europe, the upcoming implementation of the Pay Transparency Directive in 2026 will require employers to disclose gender pay gaps and provide detailed salary data, posing potential compliance challenges for organizations operating across EU member states. In the U.S.,

payroll 59

payroll Technology Tax Account 59

Withum

JULY 10, 2025

The original OZ program will sunset, with all eligible gains still required to be recognized by December 31, 2026. The blanket QOZ designation for all low-income communities in Puerto Rico is also repealed, effective as of December 31, 2026.

Real Estate 52

Real Estate Tax 52

CPA Practice

JULY 14, 2025

Matthew Becker Ratified as Next CEO of BDO USA, Succeeding Wayne Berson in 2026 BDO USA, one of the nation’s leading accounting and advisory firms, recently announced that Matthew K. As national managing principal of tax, Becker leads the strategy and operations of BDO USA’s tax practice , which has more than doubled in size since 2019.

West Virginia 51

West Virginia Technology Pennsylvania accounting and finance 51

Anders CPA

DECEMBER 12, 2024

Important Dates for 1071 Small Business Lending Tier One data collection begins 7/18/2025 Tier One report data by 6/1/2026 Tier Two data collection begins 1/16/2026 Tier Two report data by 6/1/2027 Tier Three data collection begins 10/18/2026 Tier Three report data by 6/1/2027 Remember that Section 1071 allows you to begin collecting data up to 12 (..)

Agriculture 52

Agriculture Construction Maine Finance 52

ThomsonReuters

DECEMBER 27, 2024

Developing a digital asset advisory framework While the immediate focus is on compliance with the 2025 and 2026 deadlines, the broader trend toward digital asset regulation is clear. Firms that invest in strengthening their expertise now will be well-positioned as digital assets continue to integrate into mainstream finance.

Real Estate 52

Real Estate accounting and finance tax planning tax preparation 52

Withum

FEBRUARY 3, 2025

As part of the change in law, bonus depreciation is scheduled to be phased down to zero in 20% increments from 2023 through the end of 2026. .” The rules and limitations have evolved over the years, and in 2017, the law changed again, which allowed for a 100% deduction for qualified assets through the end of 2022.

tax planning 52

tax planning Tax Construction 52

Going Concern

APRIL 24, 2025

Miles will assume the role of CEO on January 1, 2026, with Ferro remaining a director on Baker Tilly’s board thereafter. Jeff Ferro, CEO of Baker Tilly, will serve as CEO of the combined firm through his retirement, with Eric Miles, currently Moss Adams CEO, named CEO-elect.

audit 94

audit cpa firm accounting firms Gaming 94

Accounting Today

JULY 9, 2025

Matthew Becker, BDO USA's national managing principal of tax, has been ratified by a principal-wide vote to succeed Wayne Berson as the firm's next CEO, effective July 1, 2026.

Tax 58

Tax 58

Withum

FEBRUARY 13, 2025

New York plans to align with the federal centralized partnership audit regime as part of Governor Kathy Hochuls fiscal year 2026 budget.

New York 75

New York audit Washington Tax 75

Withum

JUNE 24, 2025

The Senate draft similarly makes the TCJA-expanded standard deduction permanent (with inflation-adjusted values of $16,000 single, $32,000 joint from 2026 onward). With an even larger standard deduction seemingly imminent, fewer taxpayers will itemize their deductions, meaning fewer will deduct charitable gifts.

Tax 72

Tax Transportation Finance income tax 72

Shay CPA

FEBRUARY 10, 2025

Tax Relief for American Families and Workers Act (January 2024) Included a provision to defer amortization until 2026. Broader Tax Overhauls in 2026 As other TCJA provisions expire in 2026, Congress may bundle Section 174 changes into a larger tax reform bill, creating additional uncertainty for founders today.

accrual accounting 52

accrual accounting Tax CPA payroll tax 52