News Updates

The IRS will form the Tax Professional Management Office (TPMO) from the merger of the Office of Professional Responsibility (OPR) and the Return Preparer Office (RPO) effective June 28, 2026. The merger will “simplify and modernize” how the IRS interacts with tax professionals and also supports workforce management requirements in Executive Order 14210, Implementing the President’s “Department of Government Efficiency” Cost Efficiency Initiative.

Accounting enrollment at four-year undergraduate programs rose 8.9% to 205,180 this spring, the third consecutive year-over-year increase. Overall, accounting undergraduate enrollment, including community colleges and other programs, rose 5.7% year over year during the spring 2026 semester.

Governor Jim Pillen has requested a disaster designation from U.S. Secretary of Agriculture Brooke Rollins to support areas impacted by wildfires in March and April. The designation, if approved, would open options to directly assist producers in affected counties.

The U.S. Small Business Administration (SBA) announced the availability of low-interest federal disaster loans to small businesses and private nonprofit organizations in Nebraska to offset economic losses caused by drought beginning April 14. The declaration covers the Nebraska counties of Blaine, Brown, Cherry, Custer, Franklin, Furnas, Harlan, Hooker, Kearney, Keya Paha, Logan, Loup, McPherson, Phelps, Rock, and Thomas, as well as the Kansas counties of Norton and Phillips.

The Financial Accounting Standards Board issued an Accounting Standards Update on May 19 intended to improve the financial accounting for and disclosure of activities related to environmental credits and environmental credit obligations.

Taxpayers who aren’t due a refund but received a CP53E notice anyway can ignore the notice after they confirm its validity online, the Taxpayer Advocate Service (TAS) said.

The Auditing Standards Board, a key standard-setting body of the American Institute of CPAs (AICPA), approved a standards update that would modernize how CPAs obtain audit evidence through external confirmation procedures. The new SAS, expected to be available shortly on aicpa-cima.com, will be effective for firms on Dec. 15, 2028, although early adoption is possible.

The American Institute of CPAs requests transition relief and comprehensive guidance regarding Section 4960 of the tax code, amended last year by the One Big Beautiful Bill Act, that imposes an excise tax on applicable tax-exempt organizations.

With the three new occupations — floral designers, visual artists, and gas pump attendants — the number of jobs eligible for the deduction is 71.

Sixty legislative days, 107 priority bills, and 167 bills presented to Governor Pillen. Not bad for a short session.

Today, Governor Jim Pillen issued his veto of LB 1256. In his veto letter to the Legislature, Gov. Pillen expressed his objection to aspects of the bill that would allow counties, cities and villages to reclassify certain types of services and then exceed property tax caps for those purposes.

The final IRS regulations expand the tips deduction to 71 occupations and clarify rules on qualified tips, digital payments, and automatic gratuities.

Term-limited Appropriations chairman reviews state’s fluctuating fiscal landscape over his decade in office.

After tough fights to approve adjustments to Nebraska’s two-year budget in the state Legislature, Gov. Jim Pillen signed both budget bills without any vetoes.

Lower barriers to entry, more conversations about burnout and work-life balance, and the growing use of artificial intelligence to handle repetitive tasks are helping reshape the profession’s image. At the same time, Gen Z workers—more pragmatic about job security and pay—are taking a fresh look. The result: a quiet resurgence in accounting, with young professionals flowing into a field offering stability, strong demand, and increasingly, lucrative starting salaries.

State officials, fiscal analysts hold varying views on implementing policy changes in Nebraska budget legislation

There are four legislative days left before the 2026 Legislature is expected to adjourn sine die, on the 59th legislative day.

Today is day 52 of the legislative session!

Nebraska’s newly passed LB718 modernizes CPA licensure by expanding pathways into the profession while preserving rigorous education, examination, and experience standards. The law strengthens Nebraska’s accounting workforce pipeline and aligns the state with updated national mobility rules that allow CPAs to serve clients across state lines.

"We will not be able to tax or cut our way to prosperity," says Sen. Jacobson. "We must grow our tax base. We need more people, more high-paying jobs, and more infrastructure to support growth."