FASAB issues guidance on public-private partnerships
The Federal Accounting Standards Advisory Board released guidance on implementing the disclosure requirements for public-private partnerships.

IRS improper payments on tax credits increased last year
The IRS's overall improper payment rate on refundable tax breaks increased from 21.9% in 2024 to 26.5% in 2025, totaling about $28.1 billion.

Ascend firms expand in California, New York
San Jose, California-based PP&Co acquired Ami Shah, and Mid-Atlantic Regional Leader LMC opened a new office with the addition of Ricky Spike and his team from Ives, Sultan & Spike CPAs.

Small business work hours grew in July
Growth in the number of weekly hours worked at small businesses hit its highest level in over five years last month, according to Paychex.

Advisory work doesn't have a demand problem — it has a people problem
The top two blockers to advisory growth aren't a lack of client demand — they're internal.

Deutsche Bank sues ex-managers in $636M Monte Paschi spat
Deutsche Bank is seeking damages from four former senior employees who claim the lender wrongly blamed them for alleged involvement in an accounting scandal.

Your October tax crunch is self-inflicted
The October tax nightmare is not caused by the deadline. It's caused by treating July and August as downtime.

Blanche assurances to senators leave Trump settlement intact
Blanche walked back and clarified key elements of the department's arrangements to resolve Trump's $10 billion lawsuit against the IRS.

Mauldin & Jenkins grows in South Carolina
The Top 75 Firm will acquire Schmoyer and Company in Columbia, South Carolina, effective Aug. 1, 2026.

NASBA board leadership changes after vice chair resigns
National Association of State Boards of Accountancy vice chair J. Coalter Baker stepped down to focus on his health.