Right now, the biggest stories for accountants & cpas: S corp owners face fresh scrutiny on pay and basis; IRS penalty fights intensify as notices and reasonable cause collide; Audit firms brace for new standards and quality pressure — and 2 more. Real stories, real sources, updated every few hours. Not generated guesses.
S corporationshigh engagement
S corp owners face fresh scrutiny on pay and basis
Signals around S corp tax strategy and recurring practitioner issues: reasonable compensation, failing to take a paycheck, bonus deductions, excess business loss limits, K-1 timing, and basis/through-put problems in closely held businesses.
Draft a post from this →IRS noticeshigh engagement
IRS penalty fights intensify as notices and reasonable cause collide
A cluster of tax-practice commentary on IRS penalties and notices, including reasonable cause arguments, first-time abatement, CP2000 computer-match notices, levy/seizure notices, and whether preparer error can shield taxpayers from penalties.
Draft a post from this →auditmedium engagement
Audit firms brace for new standards and quality pressure
A strong audit-and-assurance thread spanning preparation/compilation/review training, PCAOB sampling updates, quality-management improvements, inspection issues, and broader audit independence and expertise concerns.
Draft a post from this →AIhigh engagement
AI tools flood accounting firms as trust concerns persist
Multiple signals show accounting software and professional-service vendors pushing agentic AI into tax research, audit workflows, bookkeeping, and firm management, while practitioners debate whether AI helps or harms quality and client trust.
Draft a post from this →AICPAmedium engagement
AICPA and IRS roll out fresh compliance guidance for firms
A policy-and-guidance cluster featuring AICPA comments on accounting method change procedures, IRS interest-rate updates, international information return relief, disaster tax relief, and other current federal tax developments.
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