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; Digital assets attestation issues related to proof of reserves and stablecoin legislation; Issues related to Artificial Intelligence (AI) accountability and attest; Independence of accounting standard setting.
Legislation adding accounting to STEM definition including H.R. 2911 and S. 3784 the Accounting STEM Pursuit Act. Implementation of Sec. 81001. establishment of loan limits for graduate and professional students and parent borrowers in the One Big Beautiful Bill Act, P.L. 119-21.
General issues related to multiple areas of the tax law and code including: Implementation of the One Big Beautiful Bill Act, P.L. 119-21, including the provisions related to no tax on tips, no tax on overtime, Trump accounts; 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 and specified service trades or businesses; The taxation of digital assets; digital assets reporting, including the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, P.L. 119-27; Legislative proposals on tax simplification, tax reform, and technical tax changes; Mobile workforce and state income tax simplification issues, including the Mobile Workforce State Income Tax Simplification Tax Act (S. 1443); Methods and periods issues, including section 174 research and experimentation expensing, and other expired and expiring provisions; Partnership taxation issues, basis-shifting transactions; Individual tax issues, including qualified business income section 199A;
An original bill to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes (S. 4784).