An individual may elect to defer some of their wages into a retirement plan through their employer's plan [e.g., 401(k) plan]. That deferral could be…
The Bipartisan Budget Act Audit Regime
Traps for the Unwary
The Bipartisan Budget Act of 2015 (BBA) created a “centralized system for audit, adjustment and collection of tax that [generally] applies to all partnerships,” with…
SALT Round-Up—Current Developments in Key Jurisdictions
Looking at California, DC, and Pennsylvania
CPAs need to be aware of current developments in key states to properly advise companies doing business in multiple jurisdictions. As state and local tax…
Remembering a Forgotten Leader and New York’s First African American CPA
The Legacy of General Wilmer F. Lucas
IN BRIEF When Brigadier General Wilmer F. Lucas retired from the United States Army Reserve, he did so as a war hero who had led…
Accounting for Disaster
Congress, the PCAOB, and the Lessons We Forgot
“Burn, baby, burn. That's a beautiful thing.” These words came from an Enron energy trader, caught on tape during the 2000–2001 California energy crisis celebrating…
IN BRIEF In the course of fulfilling its mandate to protect investors, the PCAOB has conducted inspections of public firm audits and collected this data…
A recent case, Senty v. United States, provides several important lessons for tax return preparers [Senty v. United States, 132 AFTR 2d 2023-6735, (Dist. Ct. WD…
Column Editor's Note: In this issue, we return to neurodiversity in accounting, a topic I wrote about some while back, querying its intersection with race. It…
The Cascading Effect of the OBBBA Tax Law
Considering State Conformity
The One Big Beautiful Bill Act (OBBBA), passed July 4, 2025, will bring sweeping changes to federal corporate and individual tax rules. Many of these…
A First Look at ‘No Tax on Tips’
Implications of the New Tax Law
IN BRIEF During the debate over the newly enacted federal tax law, legislators promised to eliminate taxes on tipped income. The bill's final provisions included…
Alternatives in Accounting Education
Rethinking the CPA Pathway in the Age of AI
Many have sought to revitalize the accounting profession by attracting a new generation of tech-savvy young professionals that would utilize tools like artificial intelligence (AI)…
How the Changing Firm Environment May Impact Accounting Education
The Pressures of Technology, Investor Demands, and Operational Efficiency
Many private-equity firms (PEF) have invested capital in larger accounting firms to facilitate the purchase of “technology and talent” (M. Mauer, “Blackstone Buying Stake in…
If not remedied, the current shortage of academically qualified accounting faculty stands to affect student learning and the fulfillment of universities' missions. This article examines…
Contemplating a Doctorate in Accounting?
A Comparative Analysis of Traditional and Nontraditional Programs
In Brief Experienced CPAs considering a career move to academia may be curious about how to make that transition. There are alternatives to the traditional…
Today's modern advertising is causing an upheaval in the way businesses are exposed to potential state tax pitfalls. Influencers are everywhere, impacting consumers' decisions on…
The Disproportionate Effects of Declining Interest Within Different Accounting Fields
An Uneven Pipeline
In Brief While many articles have discussed the declining pool of accounting graduates, relatively few have investigated whether this causes a disproportionate impact between the…
Everyone loves a great comeback and the accounting profession is having one. The profession is evolving, and its perceived decline could not be further from…
Ownership Without Intermediaries
Comparing Cryptocurrency to Bearer Instruments
Proving one's ownership of cryptocurrency is relatively simple: Possession of a private key, regardless of how it was obtained, entitles its possessor to full control…
The State of US Taxation and its Fiscal Trajectory
Planning Opportunities Under the New Tax Law
In Brief The recently enacted H.R. 1, the so-called One Big Beautiful Bill Act (OBBBA), extends many of the provisions of the Tax Cuts and…
Strategies for Tariff Resilience
How Corporations Can Mitigate Trade Barriers
Tariffs have become a hot topic on any business's agenda. The United States is by far the biggest importer in the world. According to the…
Imagine this scenario: in a tax planning meeting with a client, a CPA identifies a great opportunity to reduce their tax liability—perhaps through a retirement…
Robotic Process Automation (RPA) continues to proliferate in organizations. Responding to governance challenges and impacts on financial reporting, the Committee of Sponsoring Organizations of the…
Editor's Note: This article is the first of a series in a new column, Corporate Governance Corner, exploring corporate governance issues and the role CPAs play…
How Artificial Intelligence May Impact the Accounting Profession
Testing ChatGPT in Common Scenarios
In Brief The rising popularity of artificial intelligence (AI) has made many CPAs feel unsure about the ways in which their profession may be affected.…
In Times Like These
How Transformation in the Accounting Profession Can Shape South Africa’s Economic Future
Column Editor's Note: This article is the first in a series that will spotlight academics detailing their experience and research in the field of accounting and…
The U.S. Supreme Court's landmark decision in South Dakota v. Wayfair, Inc. (138 S. Ct. 2080, 2018) overturned years of precedent that had precluded states…
In Brief Of the many kinds of technologies that professionals have encountered in recent years, artificial intelligence (AI) presents perhaps the greatest challenge. CPAs that…
There has been growing pressure—from investors, from the Financial Stability Board (FSB), and from the International Organization of Securities Commissions (IOSCO)—for companies to disclose their…
The accounting profession stands at an inflection point. We're facing both a generational pipeline crisis and an accelerating wave of technological disruption. Emerging technologies—artificial intelligence…
Diversity, Equity, and Inclusion Hiring in Public Accounting
Has the Profession Made Progress?
In Brief Over the years, numerous studies have revealed racial disparities in hiring practices, specifically detailing the favoring of White over Black applicants by employers.…