Professional columns and insights from a licensed U.S. CPA. Stay updated on accounting industry trends, firm news, and professional views.
What is the Subchapter V debt limit in 2026? About $3.4 million in aggregate noncontingent, liquidated secured and unsecured debt. The temporary $7.5 million cap expired on June 21, 2024 and has not yet been restored. The subchapter v debt limit is set by 11 U.S.C. § 1182, with pending legislation that would make the…
Are the SBA size standards really changing before September 21, 2026? Yes — SBA has proposed the biggest rewrite of sba size standards since it adopted NAICS in 2000. The proposal collapses roughly 1,000 standards to 338, defaults to employment-based measures, and adjusts receipts standards for productivity growth. Comments close September 21, 2026, and the…
Does the new NYC junk fees rule apply to my business? If you sell goods or services in New York City — whether food delivery, tickets, hotels, gyms, or SaaS subscriptions — likely yes. The city’s new NYC junk fees rule and its final Click-to-Cancel rule change how you must price and how easily customers…
What is the SEC’s proposed filer status overhaul? On May 19, 2026, the SEC proposed collapsing public-company reporting into two categories — large accelerated filers (LAFs) and nonaccelerated filers (NAFs) — raising the LAF public float threshold to $2 billion and exempting NAFs from ICFR auditor attestation. If you advise public companies, the SEC filer…
What are the latest AI disclosures 10-K trends among Fortune 500 companies? 95% of Fortune 500 registrants now disclose AI-related matters in their 10-Ks (up from 84%), with Risk Factors leading at 95% — and the SEC is signaling a shift in focus toward AI governance, explainability, and emerging fraud risks. If you’re drafting your…
Planning to e-file tax returns in 2026? Everything tax professionals and CPA firms need to know about obtaining, protecting, and managing an Electronic Filing Identification Number — the EFIN application 2026 process from e-Services application to suitability checks, fingerprinting, and fraud prevention. If you are planning to e-file federal tax returns as a paid preparer…
Can tax firms finally manage their CAF digitally? The IRS Tax Pro Account now gives tax firms business-level control over their CAF relationships, letting designated representatives manage employee authorizations, link CAF to EIN, and reduce paper workflows. On February 9, 2026, the IRS announced a significant upgrade that tax-preparation companies, accounting firms, and professional organizations…
Can the IRS reach property held in a trust to collect a tax debt? Yes — especially for self-settled trusts holding California real estate. The March 2026 ruling in United States v. Huckaby confirmed that an IRS tax lien trust property dispute is governed by where the property sits, not where the trust was formed….
What are the most important IRS and Tax Court updates for CPAs in 2026? Deloitte’s IRS Insights for February 2026 highlights four critical developments: the Tax Court’s narrowed application of the economic substance doctrine, IRS guidance on copies of returns as proof of filing, the Fifth Circuit’s expanded limited partner SE tax exception, and a…
What can you do with an IRS online account, and how does it help tax professionals? An IRS online account gives individual taxpayers 24/7 access to their tax records, payments, refund status, and identity protection tools — and when paired with a tax professional’s Tax Pro Account, it enables fully digital authorizations that replace paper…
California’s AB 1175 is official! This new law is a game-changer for aspiring and practicing CPAs. Find out how it scraps the 150-unit rule, redefines experience, and boosts mobility for out-of-state professionals. If you’re in the accounting world, you’ve probably heard the buzz. For years, the path to becoming a CPA in California (and…
