2025 second_quarter Filing

Issues impacting the accounting and auditing profession; PCAOB matters, including disciplinary proceedings, legislation related to the Sarbanes Oxley Act and proposed amendments to Auditing Standards; Implementation of the Corporate Transparency Act; Digital assets attestation issues related to proof of reserves and specifically stablecoins legislation; Issues related to Artificial Intelligence (AI) accountability and attest; Single audit of nonfederal entities federal award money.

General issues related to multiple areas of the tax law and code including: Legislative proposals on tax simplification, tax reform, and technical tax changes; One Big Beautiful Bill Act, P.L. 119-21; Individual, S corporation, partnership, trust and estate implementation and extension issues regarding the Tax Cuts and Jobs Act, P.L.115-97, including SALT cap passthrough entity-level taxes; Virtual currency and digital assets reporting; Disaster relief, including the Federal Disaster Tax Relief Act, Filing Relief for Natural Disasters Act (H.R. 517 / S. 132), the Casualty Loss Deduction Restoration Act, the Federal Disaster Responsibility Act, and the Disaster Related Extension of Deadlines Act (H.R. 1491), and the Tax Relief for Victims of Crimes, Scams, and Disasters Act (H.R. 3469/S.1773); 529 plan expansion legislation, the Freedom to Invest in Tomorrows Workforce Act (H.R. 1151 / S. 756); IRS priority guidance plan; Tax administration issues, including IRS modernization, regulation of tax return preparers, Circular 230, credit and refund lookback period, mailbox rule for electronic submissions and payments, and the Electronic Filing and Payment Fairness Act (H.R. 1152), the Internal Revenue Service Math and Taxpayer Help Act (H.R. 998), the Taxpayer Assistance and Service (TAS) Act discussion draft, IRS strategic operating plan, contingency plan for possible government shutdown, extension simplification and the Simplify Automatic Filing Extensions (SAFE) Act (H.R. 990), filing flexibility, quarterly estimated payments, electronic payments and disbursements; Trust and estate issues, including generation-skipping transfer taxes, basis reporting, estate tax returns, and gift tax returns; Mobile workforce and state income tax simplification issues, including the Mobile Workforce State Income Tax Simplification Tax Act (S. 1443); State remote sales tax issues; Methods and periods issues, including section 174 research and experimentation expensing, and other expired and expiring provisions; Corporate taxation issues, including the corporate alternative minimum tax (CAMT); Partnership taxation issues, basis-shifting transactions; Employee benefits tax issues, including implementation of SECURE 2.0, Federal income tax treatment of contributions and benefits, and paid benefits under state paid family and medical leave statute; Exempt organization issues, including foreign related filings; Guiding Principles of Good Tax Policy; International Code of Ethics for Professional Accountants (IESBA) rules on tax planning and related services; International tax issues, including transfer pricing, previously taxed earnings and profits, OECD Pillar One and Pillar Two issues, and other expired an expiring provisions; Individual tax issues, including qualified business income section 199A; Accounting profession tax matters related to the 2025 budget reconciliation; Beneficial ownership information reporting issues.