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In the blogs: Breathing room

Accounting Today

Sovos ( [link] ): The IRS will decommission the Filing Information Returns Electronically system in January 2027; all 2026 returns will need to use the new IRS Information Returns Intake System. The window for preparation is closing fast. By Paige Hagy June 16 Like what you see?

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Mississippi, Texas storm victims get tax relief

Accounting Today

By Chris Gaetano June 20 Audit Senate Parliamentarian rejects PCAOB provision in tax bill The provision would have eliminated the Public Company Accounting Oversight Board and transferred its responsibilities to the Securities and Exchange Commission. For individual taxpayers, this means Oct.

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Inside GASB's far-reaching agenda

Accounting Today

Medicaid funding would also count, and substantial cuts are expected under the tax bill now being considered in Congress "Medicaid funding in particular is a really big part of state budgets, so the potential for them to be substantial at a state level at least exists and warrants consideration," said Black. Thats a big one," said Black.

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More winners and losers from the Trump tax bill

Accounting Today

EDT 10 Min Read Facebook Twitter LinkedIn Email President Donald Trump displays the signed bill during a ceremony for the One Big Beautiful Bill Act on the South Lawn of the White House in Washington, D.C Any college with an enrollment of less than 3,000 is excluded, but anything larger than that, the rates go from 1.4%

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IRS aims to streamline LB&I process

Accounting Today

The Acknowledgement of Fact Information Document Request process will be eliminated by 2026 due to concerns over limited value and extended timelines. AIR closing agreements allow resolved issues to apply across all filed return years in the current audit cycle. Through this year, taxpayers can choose whether to use AOF.

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In the blogs: Get yourself ready

Accounting Today

Get yourself ready Institute on Taxation and Economic Policy ( [link] ): How much do the top 1% in each state get from the Senate tax bill? Tax Vox ( [link] ): How the Senate bill is even more regressive than the Finance Panels version. Josh Stein signed into law a bill that adds an additional pathway to CPA licensure, effective Jan.

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CFOs split on impact of Trump tax bill

Accounting Today

EDT 2 Min Read Facebook Twitter LinkedIn Email fotolia As the Trump administrations One Big Beautiful Bill heads into the final stages of the legislative process, finance leaders are split in their assessment of the potential effects on their companies. By Paige Hagy 7h ago Like what you see?