Opportunity zones just became permanent
If you have high net worth clients with capital gains, retire the old playbook for qualified opportunity zones. The program is now a recurring planning regime.

Smolin, Lupin & Co. acquires Vitolo & Associates
Smolin, Lupin & Co. acquired Vitolo & Associates, expanding its advisory and accounting capabilities and growing its presence in New Jersey.

Ex-Macquarie banker may dodge prison in tax scandal case
As many as 100 former and current staff members at the bank were swept up in the Cum-Ex tax probe.

AI raising expectations for human accountants
AI has raised the bar for what counts as good service in clients' eyes, meaning the humans will need to up their game, perhaps through the use of AI.

Inscope solution uses AI to produce disclosure checklists
Financial reporting and automation solutions provider Inscope announced a new release that uses agentic AI to produce a review-ready disclosure checklist.

When agents outnumber accountants: A new model for CPA firms
If things continue at this pace, it won't be surprising if CPA firms have a 40-to-one agent-to-human ratio in the near future and need a new operating model.

Vendors aren't losing sleep over vibe-coding — yet
AI-coded apps are changing the dynamics between software vendors and accounting firms, but the market impact so far has been small.

IRS eases filing of protective COVID refund claims by July 10
The IRS provided an electronic way to file a protective claim for a possible tax refund related to the COVID-19 pandemic ahead of a July 10 deadline.

IRS rules label CRATs listed transactions
Final regulations identify charitable remainder annuity trusts as "listed transactions," akin to tax shelters that need to be disclosed to avoid penalties.

IRS streamlines penalty relief, replacing First Time Abate
A new Automatic Exemption from Penalty process aims to provide relief for taxpayers with a history of usually filing and paying their taxes on time.