News & Updates

The IRS will stay fully staffed for the first five working days of the partial government shutdown, a lapsed appropriations contingency plan posted late last week shows — temporarily easing concerns that the IRS would furlough employees during tax filing season.

Old Dominion University economists Bob McNab and Vinod Agarwal's new economic forecast for the state and region is bleak. Agarwal told an audience at ODU Wednesday the regional economy in 2026 will be worse than last year.

After a slow start to the 2026 Virginia General Assembly session, tax conformity legislation is finally gaining momentum.

The AICPA sent a comment letter to Treasury and the IRS requesting the IRS release a contingency plan retaining 100% of IRS employees in the event of a government shutdown on Jan. 31, 2026, which would severely impact the 2026 filing season.

National Taxpayer Advocate Erin M. Collins today released her 2025 Annual Report to Congress, finding that taxpayers generally fared well in their dealings with the IRS in 2025 and that most taxpayers are likely to have a smooth experience in 2026. However, the report cautions the upcoming filing season is likely to present greater challenges for taxpayers who encounter problems.

A University of Illinois Urbana-Champaign study highlights how remote and hybrid workplace settings can create unintentional performance evaluation bias. Here’s what accounting firms can do to fix it.

Managers should lead by example in creating a low-stress environment and be prepared to proactively support employees who are experiencing destructive pressure.

A new report from CPA.com and the AICPA creates a snapshot of what a typical audit firm transformation looks like, based on feedback from 54 U.S. firms of various sizes and maturity levels.

On Jan. 27, the IRS opened the 2026 tax filing season and began accepting and processing federal individual income tax returns for tax year 2025.

Clearer rules, stronger oversight, and new opportunities are helping corporate finance leaders evaluate whether digital assets fit into their financial strategies.

On Jan. 26, 2026, the VSCPA commented on a white paper issued by the NASBA Private Equity Task Force on Oct. 24, 2025 — Alternative Practice Structures & Private Equity: Considerations and Questions for Boards of Accountancy.

Eighty-five percent of employees are saving one to seven hours a week using artificial intelligence (AI) tools, but organizations often fail to translate time savings into real business value, new data shows.

With a nasty winter storm hitting every Virginian this weekend, we'll be watching for any disaster declarations. Check back to our Disaster Recovery Resource Center for updates.

As the 2026 Virginia General Assembly session continues, we're highlighting several tax policy proposals. While these bills are still evolving and may not even pass, members should be aware of key themes that may influence planning and compliance in the future.

The AICPA expressed support in January for bipartisan legislation intended to promote greater national fiscal transparency and released survey data showing that a majority of Americans support such transparency.

Accounting undergraduate enrollment in U.S. colleges and universities rose for the third consecutive year in fall 2025, outpacing growth overall for undergraduate institutions, according to data from the National Student Clearinghouse.

CPAs with an international practice are now frequently confronted with an understandably perplexed foreign citizen client who forwards to them a package of dense documentation from their U.S. investment adviser, and the client then naturally wants to know how making this investment could affect their U.S. tax exposure.

The IRS Advisory Council’s (IRSAC’s) annual report included a strong defense of the agency and its employees and criticism of budget and staff cuts amidst passage of a massive bill with more than 100 tax law changes.

With Spanberger taking office, lawmakers reconvene this week to tackle abortion, voting rights, redistricting and a new state budget amid fiscal headwinds.

It's not uncommon for accountants to begin questioning their career options once they have reached a certain level of proficiency. Here are four steps to help manage a potential career transition.