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AICPA News – July 2025

CPA Practice

AICPA and NASBA Recognize Top CPA Exam Performers with Elijah Watt Sells Award The American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) congratulate this year’s winners of the Elijah Watt Sells Award. Yoshioka has applied for his CPA licensure in the U.S.

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AICPA Applauds Senate Efforts to “Improve and Correct” House Version of Tax Bill

CPA Practice

The Senate bill includes the following provisions that the AICPA has endorsed in the past: An increase in the standard deduction for years 2025-2028. Removed from Senate Bill: Restriction on regulation of contingency fees with respect to tax returns. Thanks for reading CPA Practice Advisor! Log In Need more information?

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How the $1,000 ‘Trump Accounts’ Compare to 529 Plans and Custodial Roth IRAs

CPA Practice

An additional $5,000 in after-tax contributions can be made annually to the accounts by parents, employers or other private entities. If you give someone more than that limit in any given year, then you’re required to file a gift tax return, though you likely still won’t owe taxes on the gift.) 1, 2025, and Dec.

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IRS and Treasury Finalize E-Filing Rules for Businesses

CPA Practice

The final regulations impact filers of: Partnership returns; Corporate income tax returns; Unrelated business income tax returns; Withholding tax returns; Certain information returns; Registration statements; Disclosure statements; Notifications; Actuarial reports; and Certain excise tax returns.

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Report Predicts AI will Have a Transformational Impact on Professional Work by 2028

CPA Practice

Bridging the talent gap in tax: Professionals predict new career paths will become available (66%), including increases in roles that do not require traditional tax qualifications (68%), over the next five years. In tax, more enrolled agent (EA) professionals may be able to do personal tax returns.

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Professionals on the Move – Sept. 2024

CPA Practice

s HR Consulting Practice Award-winning CPA advisory firm Herbein + Company, Inc. Allison Haug, CPA, joined the Firm as an Audit Senior Manager with 12 years of experience. A seasoned CPA growth expert, Pawlow is also a respected speaker and author, recognized for his thought leadership and innovative strategies.

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Tax Savings Programs for Massachusetts Life Sciences Companies

Withum

Companies that apply and are accepted into this program can benefit from various tax benefits, such as: Life Sciences Investment Tax Credit (pursuant to M.G.L 63, §30(17)) Designation as R&D Company for Sales Tax Purposes (pursuant to M.G.L. 63, §42B) Sales Tax Exemption for Certain Property (pursuant to M.G.L.