Lawmakers in Congress have their eyes on several pieces of tax-related legislation that may or may not get passed this year, though the upcoming November midterm election is bound to affect any possibility of the bills advancing.

The Governmental Accounting Standards Board released a proposed Implementation Guide with questions and answers on the requirements related to subsidies.

Proposed regulations will affect the determination of taxable income or loss and foreign currency gain or loss with respect to a qualified business unit.

Cryptocurrency disposals; cosmetic compliance; paper or plastic; and other highlights from our favorite tax bloggers.

The IRS and the Treasury released interim guidance on a special depreciation allowance for qualified production property under the One Big Beautiful Bill Act.

The American Institute of CPAs is asking the Treasury and the IRS for further guidance on the rules for deducting domestic research and development expenses.

The Securities and Exchange Commission is making extensive changes in auditing and accounting as it continues to deregulate under the Trump administration.

If you have business clients who are considering changing their LLCs or C corporations into S corporations, now is a great time to discuss the pitfalls.

The IRS handed out a hefty tax break to large corporations, ensuring that President Trump's lucrative R&D deduction doesn't increase their tax bills.

The Treasury Department released interim guidance on the corporate AMT, further restricting the reach of the 15% tax on billion-dollar corporations.

The Trump administration's interim guidance on clean energy tax credits offered some relief to the industry by laying out a manageable path for new projects.

The Institute is asking the Treasury and the Internal Revenue Service to simplify the "determine and document" requirement for taxes charged to CFCs.

In practice, depreciation does not eliminate tax cost over time. It merely redistributes it.

The health care services contractor said it may have overstated some of its past revenue and pulled its guidance for the year.

The Senate blocked a resolution that would have disapproved of recent guidance from the Treasury Department weakening the corporate alternative minimum tax.

Make sure clients know what the government's share is, before taking gains. Don't overlook opportunity zones.

Proposed regs from IRS finally address the reporting threshold confusion that has plagued tax practitioners since 2021.

The Internal Revenue Service and the Treasury released proposed regulations on the clean fuel production credit under the One Big Beautiful Bill Act.

The Internal Revenue Service posted a contingency plan Friday indicating that it would be able to operate until Feb. 7, 2026, while keeping all 74,942 employees working. 

The Financial Accounting Standards Board has voted to add a project to its technical agenda on market-return cash balance plans.