Under Internal Revenue Code (IRC) section 1031, direct swaps can be difficult to accomplish because the parties may not each have something the other wants. To facilitate exchanges, IRC section 1031 ...

Auditor Independence is integral to the financial reporting system and trust in the capital markets. But recent cases against large audit firms underscore the challenges firms face in ensuring ...

The One Big Beautiful Bill Act (P.L. 119-21) was signed into law on July 4, 2025, and § 70204 of OBBBA added new IRC §§ 530A, 128, 6434, and 139J. IRC § 530A created Trump accounts, which are ...

Budgeting is important to any organization, but particularly for nonprofits. Given the unique challenges that nonprofits face in the current environment of macroeconomic and regulatory uncertainty, it ...

The AICPA Auditing Standards Board recently issued SAS 134, Auditors Reporting and Amendments, Including Amendments Addressing Disclosures of Financial Statements, and SAS 135, Omnibus Statement on ...

While the use of sustainability reporting has grown in the United States in the absence of a legal mandate and as a result of demand from stakeholders, the lack of a nationwide legal mandate has ...

For several years now, declining enrollments in universities and high turnover at firms have posed a serious threat to the accounting profession’s viability. The solution is not merely a numbers game, ...

Terminally ill individuals often desire to benefit the people and institutions they love by means of actionable and effective tax planning, even in the final period of their life. These taxpayers, ...

The liquidation of a partner’s entire partnership interest can take various forms, including payment made by the partnership to the retiring partner in complete redemption of the partner’s interest or ...

Individuals who own interests in a closely held family business need to address an exit strategy. In many cases, such individuals wish to have a child who is involved in the business takeover its ...

Currently, in order to be licensed, CPA candidates must earn a bachelor’s degree (usually 120 hours), earn 30 hours beyond the bachelor’s degree (which may entail completing a master’s degree), and ...

The US Department of Justice (DOJ) and IRS are currently conducting a criminal investigation into potential abuses of Puerto Rico’s Act 60 tax incentive program, and the government has reportedly ...