News & Updates

The American Institute of CPAs (AICPA) has sent an urgent letter to Treasury Secretary and Acting IRS Commissioner Scott Bessent, urging the Internal Revenue Service (IRS) to announce its contingency plan in preparation of a government shutdown on Oct. 1, 2025.

All IRS staffers will work during the first five business days of a potential government shutdown, according to a lapsed appropriations contingency plan posted Monday, Sept. 29, 2025.

Lower starting salaries compared to those in other professions have long been seen as a challenge in recruiting students into the accounting talent pipeline. 2025 MAP Survey results released Wednesday show CPA firms are boosting compensation for new graduates.

While a growing band of states have passed new CPA licensure laws, employers, universities, students and regulators are just beginning to grapple with how the new rules will work.

Interactive presentations related to the students’ interests increased awareness and interest in the accounting field, as well as students’ understanding of the profession, their interest in pursuing an accounting degree, and their awareness of diverse career paths.

Employees under the age of 25 are the most engaged and positive of all employee groups, but many in a recent global report don’t envision working at their organizations long term.

Our “always on” culture perpetuates tech addictions. The good news: Once you recognize the signs, there are many strategies you can implement to regain control. Your body and mind will thank you!

Is private equity (PE) right for you? Even if you’re not considering a PE deal, you must understand the dynamics to stay competitive in Virginia’s evolving marketplace.

The number of taxpayers impacted by federal disasters is increasing. From 2013 to 2023, the number of areas qualifying to receive tax relief because of federal disasters increased from 141 to 750. Here are five important considerations involving federal disasters and tax relief.

Virginia ended the 2025 budget year with nearly $2.7 billion in general fund surplus, according to preliminary figures released by Gov. Glenn Youngkin's office. Read the full report from The Center Square.

More than one-third of Americans have been the victim of fraudulent activities after being personally or professionally impacted by a natural disaster, according to a Harris Poll. This AICPA article breaks down how to avoid bad actors.

More than 4 in 10 Americans have been victimized by a natural disaster, a stressful scenario that can take time to process. Tax-related responsibilities add to the burden, but filing relief can help. This Journal of Accountancy article breaks down survey results showing some want more action from the IRS.

The risk of an “AI divide” is real, says Scott Snyder from the Wharton School at the University of Pennsylvania. In this opinion piece, he offers practical starting points for integrating AI into our everyday lives.

For Immediate Release Julia Conlon, VSCPA (804) 612 -9450 jconlon@vscpa.com Richmond (June 9, 2025) — The Virginia Society of Public Accountants (VSCPA) Educational Foundation has awarded accounting students across the Commonwealth a record-breaking total of $82,500 in scholarships for the 2025–2026

The VSCPA Accounting & Auditing Advisory Committee has reviewed the Exposure Draft (ED) — Accounting for Debt Exchanges, issued by the Financial Accounting Standards Board (FASB or the Board).

The VSCPA urges Congress to oppose provisions included in the House Ways and Means Committee’s tax reform legislation that unfairly target the ability of service businesses structured as pass-through entities to deduct their state and local taxes (SALT) from their federal tax liability while providing no such limit to other businesses.

Although popular and successful in other industries, returnships have remained largely untouched by the accounting profession. Experts share why CPA firms should consider tapping into this retention tool to combat the ongoing talent crisis.

Ups (passing pipeline legislation) and downs (threats to rolling conformity) made this year’s Virginia General Assembly one for the books.

To ensure Virginia citizens receive services from well-skilled CPAs equipped with the latest knowledge, the Virginia Board of Accountancy requires CPAs to take a certain amount of continuing professional education (CPE) each year. If you fall behind on this requirement, you could be subject to fines or other consequences after a CPE audit.

No longer a luxury tool for large companies, Customer Relationship Management (CRM) systems can help businesses of all sizes enhance operations and grow revenue.