CPA Practice Advisor

Booker to Propose Bill That Would Make First $75K in Earnings Tax Free for Married Couples Sen. Cory Booker (D-NJ) plans to propose legislation Tuesday that would increase the standard deduction to $75,000 for married couples filing jointly.

Top news this week #1: Booker to Propose Bill That Would Make First $75K in Earnings Tax Free for Married Couples- https://www.cpapracticeadvisor.com/2026/03/09/booker-to-propose-bill-that-would-make-first-75k-in-earnings-tax-free-for-married-couples/179512/

Americans Prepare for Gas Price Surge as Iran Conflict Continues Gas prices are rising at one of the fastest rates in years with the conflict in the Middle East expanding and the effective closure of the Strait of Hormuz, where 20% of the global supply of oil passes through.

Top news this week #3: Americans Prepare for Gas Price Surge as Iran Conflict Continues- https://www.cpapracticeadvisor.com/2026/03/09/americans-prepare-for-gas-price-surge-as-iran-conflict-continues/179482/

A Tax Preparer Went to Prison for a $4.3M Scam. She’s Now Charged in a New $5.5M Scheme, Feds Say Before Jessenia Cordero finished serving her prison term for a $4.3 million in a tax fraud scheme, the wheels were in motion for her next scheme, federal authorities allege in court records.

Top news this week #4: A Tax Preparer Went to Prison for a $4.3M Scam. She’s Now Charged in a New $5.5M Scheme, Feds Say- https://www.cpapracticeadvisor.com/2026/03/11/a-tax-preparer-went-to-prison-for-a-4-3m-scam-shes-now-charged-in-a-new-5-5m-scheme-feds-say/179634/

Here Are the IRS 'Dirty Dozen' Tax Scams for 2026 With tax-filing season in full-go mode and with March 5 being National Slam the Scam Day, the IRS on Thursday announced its annual "Dirty Dozen" list of tax scams for 2026 that threaten the tax and financial information of taxpayers, businesses, and tax professionals.

Top news this week #5: Here Are the IRS ‘Dirty Dozen’ Tax Scams for 2026- https://www.cpapracticeadvisor.com/2026/03/05/here-are-the-irs-dirty-dozen-tax-scams-for-2026/179336/

Could Washington State ‘Millionaires Tax’ Lead to Capital Flight? Tax them, and they will flee. That’s the idea behind capital flight, an economic term used by tax critics to describe an exodus of wealth and investments because of higher taxes or cost of doing business.

Top news this week #6: Could Washington State ‘Millionaires Tax’ Lead to Capital Flight?- https://www.cpapracticeadvisor.com/2026/03/10/could-washington-state-millionaires-tax-lead-to-capital-flight/179610/

Tax Refunds Are Up Nearly 11% So Far in 2026, According to IRS Data For the week ending Feb. 27, the average refund was $3,742, up 10.6% over the average of $3,382 for the same timeframe last year.

Top news this week #7: Tax Refunds Are Up Nearly 11% So Far in 2026, According to IRS Data- https://www.cpapracticeadvisor.com/2026/03/09/tax-refunds-are-up-nearly-11-so-far-in-2026-according-to-irs-data/179500/

Using AI to Win Tax Season With AI, accounting firms can navigate through the tax season free of stress, errors, and complications. Moreover, it helps firms deliver exceptional client service and enhances their reputation.

Top news this week #8: Using AI to Win Tax Season- https://www.cpapracticeadvisor.com/2026/02/25/using-ai-to-win-tax-season/178774/

Planning for Charitable Contributions in 2026 H.R.1, the One Big Beautiful Bill Act, made several changes to the tax rules for charitable contributions, including a new charitable contribution deduction for non-itemizers effective starting in 2026.

Top news this week #9: Planning for Charitable Contributions in 2026- https://www.cpapracticeadvisor.com/2026/02/18/planning-for-charitable-contributions-in-2026/178317/

IRS Proposes Regs on How to Open a Trump Account Under the OBBBA The IRS says these proposed regulations provide useful information for parents and guardians who may want to elect to open an initial Trump Account and for prospective trustees of Trump Accounts.

Top news this week #10: IRS Proposes Regs on How to Open a Trump Account Under the OBBBA- https://www.cpapracticeadvisor.com/2026/03/11/irs-proposes-regs-on-how-to-open-a-trump-account-under-the-obbba/179734/

Where's Your Tax Refund? IRS Income Tax Refund Schedule for 2026 "When will I get my tax refund?” Nobody can give you an exact answer, but we can give you a good estimate. And no calculators or forms to fill out.

"When will I get my tax refund?” Nobody can give you an exact answer, but we can give you a good estimate. And no calculators or forms to fill out. #taxtwitter #IRS #TaxRefund #TaxSeason #Accounting #TaxPro #taxrefund #taxes #202taxes- https://ow.ly/wwWN50YrEAy

Senators Push Trump for $200B Tax Cut Without Congress; Experts Say It’s Illegal U.S. Sens. Ted Cruz, R-Texas, and Tim Scott, R-S.C., asked the Treasury Department to cut capital gains taxes on investors—and they claim the move does not need congressional approval.

#TedCruz & #TimScott asked the Treasury Dept to cut capital gains taxes on investors—they claim no need for congressional approval- #taxtwitter- #taxes #capitalgains- https://www.cpapracticeadvisor.com/2026/03/09/senators-push-trump-for-200b-tax-cut-without-congress-experts-say-its-illegal/179454/

IRS 1099-DA Reporting Gaps Could Cause Crypto Investors to Overpay Taxes by $14,500, Summ Analysis Finds The analysis of 30,000 U.S. users with moderate trading activity found $435 million in inflated capital gains for the 2025 tax year alone—a 944% overstatement compared to actual gains of $46 million.

The analysis of 30,000 U.S. users with moderate trading activity found $435 million in inflated capital gains for the 2025 tax year alone—a 944% overstatement compared to actual gains of $46 million.- https://ow.ly/EiXW50Yry0x

Mississippi's Move to Make NIL Earnings Non-Taxable Could Flip the Script on College Football Recruiting The Mississippi House of Representatives recently passed legislation that would make name, image and likeness earnings tax-exempt for college athletes at the state level.

The Mississippi House recently passed legislation that would make #ncaa #football name, image and likeness earnings tax-exempt for college athletes at the state level- #taxes #taxtwitter- https://ow.ly/AiFC50YrxlJ

Tax Refunds Are Up Nearly 11% So Far in 2026, According to IRS Data For the week ending Feb. 27, the average refund was $3,742, up 10.6% over the average of $3,382 for the same timeframe last year.

As of Feb. 27, the average refund was $3,742, up 10.6% over the average of $3,382 for the same timeframe last year. #taxtwitter #TaxSeason #IRS #TaxRefund #AccountingNews https://www.cpapracticeadvisor.com/2026/03/09/tax-refunds-are-up-nearly-11-so-far-in-2026-according-to-irs-data/179500/

Diligent Unveils AuditAI Tool for Internal Audit Teams Governance, risk, and compliance SaaS solutions provider Diligent launched AuditAI, a new suite of agentic AI capabilities for internal auditors, during an Institute of Internal Auditors conference this week.

Governance, risk, and compliance SaaS solutions provider Diligent launched AuditAI, a new suite of agentic AI capabilities for internal auditors, during an Institute of Internal Auditors conference this week.- https://ow.ly/MMCi50YszK8

Ex-Mayor of Portage, Indiana, Sentenced to 3 Years of Probation for Federal IRS Charge James Snyder will have to pay $78,111.57 in restitution, which is what he still owes for obstructing the IRS, made in monthly payments of $570 a month. He has paid $18,000 of his debt.

James Snyder will have to pay $78,111.57 in restitution, which is what he still owes for obstructing the IRS, made in monthly payments of $570 a month. He has paid $18,000 of his debt.- https://ow.ly/E2Zn50YszGq

Which States Tax the Rich at the Highest Level? Stacker, a website specializing in publishing data, found that the American elite—the top 1%—pay, on average, roughly 37% of overall income taxes and earn 19.5% of salaries nationwide.

The top 1%—pay, on average, roughly 37% of overall income taxes and earn 19.5% of salaries nationwide.- https://www.cpapracticeadvisor.com/2026/03/10/which-states-tax-the-rich-at-the-highest-level/179620/ #TaxNews #Accounting #CPAs #TaxPolicy #Finance

Could Washington State ‘Millionaires Tax’ Lead to Capital Flight? Tax them, and they will flee. That’s the idea behind capital flight, an economic term used by tax critics to describe an exodus of wealth and investments because of higher taxes or cost of doing business.

Tax them, and they will flee. That’s the idea behind capital flight, an economic term used by tax critics to describe an exodus of wealth and investments because of higher taxes or cost of doing business.- https://ow.ly/mR9L50Yszn5

New York Lawmakers Propose Boosting Taxes on the Rich, Challenging Hochul and Aligning with Mamdani A budget battle is unfolding in Albany as state lawmakers in their budget proposals unveiled a push for tax hikes on both wealthy individuals and corporations to supply New York City with more money.

A budget battle is unfolding in Albany as state lawmakers in their budget proposals unveiled a push for tax hikes on both wealthy individuals and corporations to supply New York City with more money.- https://ow.ly/mojW50Yszlg

Legal Fight Reopens Over Trump’s Push to Tax Low-Value Imports A U.S. trade court has revived a challenge to President Donald Trump’s move to end a tariff exemption for low-dollar imports, resuming a legal fight with financial stakes for online retailers and small businesses as well as Americans who directly buy goods overseas.

A U.S. trade court has revived a challenge to President Donald Trump’s move to end a tariff exemption for low-dollar imports, resuming a legal fight with financial stakes for online retailers and small businesses as well as Americans who directly buy goods overseas.- https://ow.ly/ix4Q50Yszk6

Survey: Americans Are Increasingly Entangled in Financial Scams—and AI is Contributing to the Problem Experts in financial fraud prevention said results of a Bankrate survey support what they’ve noticed: financial fraud is on the rise in the U.S., and so is the public’s awareness that they’re being targeted.

Experts in financial fraud prevention said results of a Bankrate survey support what they’ve noticed: financial fraud is on the rise in the U.S., and so is the public’s awareness that they’re being targeted.- https://ow.ly/nSKl50YszhQ

A Tax Preparer Went to Prison for a $4.3M Scam. She’s Now Charged in a New $5.5M Scheme, Feds Say Before Jessenia Cordero finished serving her prison term for a $4.3 million in a tax fraud scheme, the wheels were in motion for her next scheme, federal authorities allege in court records.

Before Jessenia Cordero finished serving her prison term for a $4.3 million in a tax fraud scheme, the wheels were in motion for her next scheme, federal authorities allege in court records.- https://ow.ly/yovO50YtAVx

CPE Webinar: Becoming a Modern Firm: The 5 Stages of Development What separates high-performing, future-ready accounting firms from those struggling to keep up?

CPA webcast March 26- Becoming a Modern Firm: The 5 Stages of Development. @rightworks- https://www.cpapracticeadvisor.com/2026/02/23/cpe-webinar-becoming-a-modern-firm-the-5-stages-of-development/178663/

Gartner Predicts Embedded AI in Cloud ERP Applications will Drive a 30% Faster Financial Close by 2028 Gartner predicts that finance organizations using cloud ERP applications with embedded AI assistants will see a 30% faster financial close by 2028.

Gartner predicts that finance organizations using #cloud #ERP applications with embedded #AI assistants will see a 30% faster financial close by 2028. #aiagents - https://ow.ly/H5Ih50YrYlX

How Accounting Firms Can Close The AI Adoption Gap Accounting firms should be thinking about how to truly capitalize on the technological revolution and close the adoption gap.

Accounting firms should be thinking about how to truly capitalize on the technological revolution and close the adoption gap.- https://www.cpapracticeadvisor.com/2026/03/10/how-accounting-firms-can-close-the-ai-adoption-gap/179587/

5 Tax Changes to Account for Before Filing 2025 Tax Returns Several provisions enacted in the One Big Beautiful Bill Act, which apply to the 2025-2028 tax years, may impact taxpayers’ returns. Here are five to consider before filing.

Several provisions enacted in the One Big Beautiful Bill Act, which apply to the 2025-2028 tax years, may impact taxpayers’ returns. Here are five to consider before filing. #taxtwitter #taxnews- https://ow.ly/ggfG50YrYib

Where's Your Tax Refund? IRS Income Tax Refund Schedule for 2026 "When will I get my tax refund?” Nobody can give you an exact answer, but we can give you a good estimate. And no calculators or forms to fill out.

"When will I get my tax refund?” Nobody can give you an exact answer, but we can give you a good estimate. And no calculators or forms to fill out. #irsnews #taxrefund #2026refund #incometaxrefund #taxtwitter- https://ow.ly/Oh6r50YrYg8

Michigan State University Professor to Be Inducted Into AAA Accounting Hall of Fame William McCarthy's induction into the Accounting Hall of Fame recognizes not only a transformative scholar, but a visionary educator whose ideas continue to shape the future of accounting.

William McCarthy's induction into the Accounting Hall of Fame honors a visionary educator whose ideas shape the future of accounting. #Accounting #AccountingHallofFame #CPAs https://ow.ly/i7Xy50YrY7F

Process Before Platform: How to Modernize Your Firm Without Creating a Frankenstein Tech Stack If you work in a public accounting firm today, you’re getting pitched “modernization” from every angle: AI tools, automation platforms, new billing systems, workflow engines and more.

Public accounting firms are being pitched “modernization” from every angle: AI tools, automation, new billing systems, workflow engines, and more. How do you avoid a Frankenstein tech stack? https://ow.ly/embN50YrXH2 #Accounting #FirmModernization #AccountingTech

AuditBoard is Now Optro "From internal audit and cybersecurity to third-party risk and AI governance, our name now conveys the scale of enterprise risk we help solve for today," Optro CEO Raul Villar Jr. said.

"From internal audit and cybersecurity to third-party risk and AI governance, our name now conveys the scale of enterprise risk we help solve for today," Optro CEO Raul Villar Jr. said.- https://www.cpapracticeadvisor.com/2026/03/09/auditboard-is-now-optro/179518/