Gaining what he termed "momentum" in overhauling Social Security, Treasury Secretary John Snow said he expects House lawmakers to draft a reform proposal for the 70-year-old program when they return from the July 4th recess."There is real momentum," Snow said in a radio interview held earlier this week. "We need to keep this moving forward and we need to keep hearing from more people."Snow said he expects the Senate to address Social Security reform sometime this summer. The hope is that some form of resolution can be reached before the end of the year.However, Democrats have voiced staunch opposition to any Social Security reform plans that entail the creation of personal or private accounts.
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Global finance professionals are facing challenges with automating accounts payable, artificial intelligence and tariffs, according to a new report.
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The Big Four firm estimates complete end-to-end integration of AI in the audit cycle is about one year away.
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The agency also saw a more than 1% jump in the total number of tax returns received and processed.
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PricewaterhouseCoopers reported its global gross revenues for fiscal year 2025 increased 2.9% in U.S. dollars.
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The generative AI research tool 'Josi' provides secure, direct access to the AICPA's professional standards, authoritative guidance and related information.
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The Internal Revenue Service is proposing to remove the domestic corporation look-through rule for real estate investment trusts controlled by foreign investors.
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