Martha Waggoner

1 week ago | journalofaccountancy.com | Martha Waggoner

news TAX A higher percentage of AICPA members got questions answered quickly by the IRS Practitioner Priority Service (PPS) line during the 2025 tax filing season, according to an annual survey, but they have concerns about the future of the IRS.

2 weeks ago | journalofaccountancy.com | Martha Waggoner

news TAX The AICPA recommended five changes to proposed regulations (REG-105479-18), including to expressly allow taxpayers to rely on the proposed regulations dealing with previously taxed earnings and profits (PTEP) and related basis adjustments under Secs. 959 and 961 until they are final.

2 weeks ago | journalofaccountancy.com | Martha Waggoner

news TAX The AICPA outlined its concerns to Congress about provisions in the tax bill that could hurt the accounting profession, including a section that allows long-debated contingent fees that it described as “an open invitation to unscrupulous tax preparers.” “Although we support portions of the legislation, we have significant concern over the consistent decrease in parity that professional service providers have experienced under the Tax Cuts and Jobs Act of 2017 and the even larger...

3 weeks ago | journalofaccountancy.com | Martha Waggoner

news TAX The AICPA endorsed 10 tax provisions recommended by the House Ways and Means Committee for the budget reconciliation bill that Congress is compiling, while urging changes to two items.

1 month ago | thetaxadviser.com | Martha Waggoner

news PRACTICE & PROCEDURE The IRS lost 11% of its staff through voluntary separations and terminations in the first three months of 2025, and the largest percentage of those who left were revenue agents who conduct audits, a government watchdog said in a report.