Accounting, tax, auditing news

AICPA seeks IRS clarity on AI guidelines, CPA fees

The AICPA is seeking clarification from the IRS on guidelines suggesting that tax practitioners should pass AI-related cost savings on to clients. Concerns about language in the guidelines include the implication of not allowing for a value-pricing model and overlooking the costs of implementing and governing the technology.

CFO hires increasing; average age of hires decreasing

Congress approves funding bill that maintains IRS budget

Confidence in U.S. economy rises despite inflation concerns

FASB proposes several incremental improvements to GAAP

IRS enforcement activity fell despite record tax collections, TIGTA says

Why many Americans don’t retire on their own terms