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Journal of Accountancy
journalofaccountancy.com > issues > 2026 > feb

February 2026

February 20263+ hour, 30+ min ago   (148+ words) New AI tools promise to automate a growing number of audit tasks, but the need for human review remains. CPAs warn that an ongoing push for high-volume SOC services may come at the cost of quality and objectivity. Find out…...

The Tax Adviser
thetaxadviser.com > issues > 2026 > jan > prop-regs-issued-on-new-qualified-tips-deduction

Prop. regs. issued on new qualified tips deduction

Prop. regs. issued on new qualified tips deduction15+ hour, 30+ min ago   (332+ words) Editor: Susan M. Grais, CPA, J.D., LL.M. Treasury and the IRS in September released proposed regulations (REG11003225) with guidance on the new federal income tax deduction for tips, which was enacted in H.R. 1, P.L. 11921, known as the One Big Beautiful Bill Act (OBBBA), for tax years…...

The Tax Adviser
thetaxadviser.com > issues > 2026 > jan > irs-rules-for-first-time-that-reits-income-from-markup-on-electricity-from-ev-charging-stations-is-rents-from-real-property

IRS rules for first time that REIT’s income from markup on electricity from EV charging stations is rents from real property

IRS rules for first time that REIT’s income from markup on electricity from EV charging stations is rents from real property15+ hour, 30+ min ago   (436+ words) Editor: Susan M. Grais, CPA, J.D., LL.M. The ruling marks the first time the IRS addressed whether a REIT's markup on electricity drawn from electric vehicle charging stations (EV stations) constitutes rents from real property. The taxpayer, a limited liability company that intends…...

The Tax Adviser
thetaxadviser.com > issues > 2026 > jan > irs-rules-that-community-trust-and-affiliated-nonprofit-corporation-can-file-a-single-form-990

IRS rules that community trust and affiliated nonprofit corporation can file a single Form 990

IRS rules that community trust and affiliated nonprofit corporation can file a single Form 99015+ hour, 30+ min ago   (343+ words) Editor: Susan M. Grais, CPA, J.D., LL.M. Regs. Sec. 1.170A9(f)(11)(iii) requires an organization to be commonly known as a community trust, fund, foundation, or other similar name showing the fund supports charitable activities in the community or area it serves. Regs. Sec. 1.170A9(f)(11)(iv) requires all…...

The Tax Adviser
thetaxadviser.com > issues > 2026 > jan

January 2026

January 202615+ hour, 30+ min ago   (136+ words) This article explores the strategic use of this election, highlighting its potential to optimize tax outcomes for both trusts and beneficiaries while cautioning against its pitfalls. IRS generally eliminates 5% safe harbor for determining beginning of construction for wind and solar…...

The Tax Adviser
thetaxadviser.com > issues > 2026 > jan > irs-proposes-using-naics-to-determine-lines-of-business-for-certain-fringe-benefit-exclusions

IRS proposes using NAICS to determine lines of business for certain fringe benefit exclusions

IRS proposes using NAICS to determine lines of business for certain fringe benefit exclusions15+ hour, 30+ min ago   (293+ words) Editor: Susan M. Grais, CPA, J.D., LL.M. Because the ESIC Manual has not been updated in over 50 years, many current industries are not listed because they did not exist (e.g., internet service providers, cellphone manufacturers, cellphone service providers, and smartphone application designers). The NAICS…...

Accounting Today
accountingtoday.com > news > fasb-to-tackle-market-return-cash-balance-plans

FASB to tackle market-return cash balance plans

FASB to tackle market-return cash balance plans1+ day, 12+ hour ago   (365+ words) During a meeting on Jan. 14, FASB decided to add the project based on the recommendation of its Emerging Issues Task Force. The project will address the discount rate used to measure the projected benefit obligation under Topic 715, Compensation " Retirement Benefits,…...

News18
news18.com > business > tax > income-tax-in-focus-ahead-of-budget-2026-old-vs-new-regime-deductions-and-what-taxpayers-should-know-ws-l-9868789.html

Income Tax In Focus Ahead Of Budget 2026: Old Vs New Regime, Deductions And What Taxpayers Should Know

Income Tax In Focus Ahead Of Budget 2026: Old Vs New Regime, Deductions And What Taxpayers Should Know1+ day, 13+ hour ago   (635+ words) Budget 2026: As preparations gather pace for the Union Budget to be presented on February 1, expectations are rising among individual taxpayers over possible tweaks to income tax rules. With the new tax regime continuing as the default framework for FY 202526, attention…...

Accounting Today
accountingtoday.com > news > sec-names-new-pcaob-chair-and-board-members

SEC names new PCAOB chair, board members

SEC names new PCAOB chair, board members1+ day, 16+ hour ago   (304+ words) The Securities and Exchange Commission appointed a new chair and set of board members Friday to the Public Company Accounting Oversight Board. It named Demetrios "Jim" Logothetis as chairman, and Mark Calabria, Kyle Hauptman and Steven Laughton as board members....

Accounting Today
accountingtoday.com > news > should-public-companies-report-twice-a-year

Should public companies report twice a year?

Should public companies report twice a year?1+ day, 17+ hour ago   (1222+ words) The possibility of a major change in public company reporting " reducing quarterly reporting to semiannual reporting " is on the table, thanks to President Donald Trump, but what that would actually mean for the American capital markets remains unclear. While many…...