Tax, accounting, auditing news - Journal of Accountancy

June 17, 2026

FASB seeks comment on hedge accounting guidance

FASB published two Accounting Standards Updates recently. One is intended to improve accounting guidance for interest rate risk hedging and net investment hedging, and the other relates to guidance for certain market-return cash balance plans.

June 16, 2026

About a quarter of callers to two IRS lines got poor service, TIGTA says

The Treasury Inspector General for Tax Administration estimated that about 1 million callers to two IRS customer service lines did not receive quality service.

June 16, 2026

Crowe partners with private equity; Baker Tilly on the move

Crowe is the latest top 15 firm to strike a private-equity deal. Also, Baker Tilly announced plans to relocate its headquarters to New York and acquire another top 100 firm.

June 15, 2026

TIGTA: IRS reassigned staff after layoffs for filing season

More than 11,000 workers left Taxpayer Services, prompting the IRS to assign 1,173 higher-paid employees to lower-grade positions, the report from the Treasury Inspector General for Tax Administration said.

June 15, 2026

PCAOB seeks comment on proposed quality control amendments

The PCAOB issued for public comment a supplemental release regarding narrow, targeted proposed amendments to QC 1000, A Firm’s System of Quality Control, and related amendments to forms and the QC reporting rule.

June 15, 2026

PEEC seeks input on proposed revisions to ‘public interest entity’ definition

Public comments are due by Sept. 15 on the proposed definition, which aims to ensure that the AICPA Code of Professional Conduct keeps pace with future regulatory updates without the need for additional standard-setting actions.

June 10, 2026

IRS holds hiring events in 6 cities after staff cuts

During the 10th ENGAGE, AICPA Chair Jan Lewis pointed to new hiring as a step toward improving IRS responsiveness.

June 10, 2026

AICPA recommends improvements to CP53E notice process

A letter to the IRS cites erroneous notices, late guidance, and practitioner confusion. It also calls for clearer rules and system changes.

June 10, 2026

7 CPAs honored at ENGAGE 2026

The AICPA honored seven CPAs at ENGAGE in Las Vegas, highlighting CPA efforts in a specific accounting specialty area, excellence in volunteer efforts, and significant contributions to the profession.

June 10, 2026

IRS to merge tax practitioner offices despite AICPA opposition

The new Tax Professional Management Office will combine the Return Preparer Office and Office of Professional Responsibility functions under one structure, with the IRS saying their missions and oversight roles would remain unchanged.

June 9, 2026

ENGAGE takeaways: 7 principles to improve CPA firm profitability

For the 10th consecutive conference, former AICPA chair Bill Pirolli shared tried-and-true keys for next-level financial success for firms.

June 9, 2026

Student enrollment in accounting continues to rise

Enrollment in four-year accounting programs increased 8.9% from spring of 2025 to spring of 2026, the third consecutive year-over-year increase.

June 9, 2026

ENGAGE keynote: The thinking behind Costco’s hot dog special

Richard Galanti, CFO and the “voice of Costco” for nearly four decades, dishes on keys to the company’s success to kick off the 10th year of AICPA ENGAGE in Las Vegas.

June 9, 2026

AICPA launches national campaign championing the CPA profession

CPA Trust aims to boost the profession’s profile via media promotions that highlight the unique brand of trust that CPAs offer.

June 4, 2026

5 state CPA societies merge

The CPA organizations of Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont have approved a merger to form the New England Society of CPAs.

June 4, 2026

Optimism mixed among US finance leaders

CPA decision-makers in business and industry are less optimistic about the U.S. economy now when compared with the first quarter of this year, but they are slightly more optimistic about their own organizations, according to an AICPA and CIMA survey.

June 3, 2026

SEC shares 3 goals in proposed 2026–2030 strategic plan

The commission is accepting comments on the draft through July 2.

June 2, 2026

6 top scorers on CPA Exam earn Elijah Watt Sells Award

Of more than 87,000 CPA candidates who sat for the CPA Exam in 2025, a half dozen passed all four sections on their first attempt while recording a cumulative average score above 95.5.

June 2, 2026

IRS proposes increase in cost of estate tax closing letter

Proposed regulations issued Monday would raise the cost of the letter to $76, from the $56 set in 2025.

June 1, 2026

Most retirees worry about savings — but few use financial advisers

Less than one-third of retired Americans in a recent survey reported working with a financial adviser, even though nearly 7 in 10 are concerned about managing their income throughout retirement.

FROM THIS MONTH'S ISSUE

Making the right choice when no one is watching

The true test of one’s character is the decision made when no one is looking over your shoulder. Learn how CPAs can uphold ethical standards and take actions that help limit liability risk.