News Updates

The IRS has introduced a draft of Schedule 1-A (Form 1040), Additional Deductions, which consolidates calculations for four deductions under H.R. 1, P.L. 119-21, known as the One Big Beautiful Bill Act. This new form allows taxpayers to calculate deductions for tips, overtime, car loan interest, and an enhanced senior deduction on a single document.

President Donald Trump has said that companies should no longer be required to report their earnings on a quarterly basis, and instead publish their financials every six months, arguing that it "will save money, and allow managers to focus on properly running their companies." Currently, the SEC requires corporations to report their financial statements every 90 days. Half-yearly reporting would mark a huge change in disclosure requirements and put the U.S. in line with the U.K. and several countries in the European Union.

Property taxes can be looked at as a story problem. Unlike a story problem, though, with property taxes you don’t always have all the information you need at the start.

The new law requires businesses with 11 or more employees to provide their employees with paid sick time. Employers are required to provide written notice and postings by September 15, 2025.

Nebraska Gov. Jim Pillen has requested a major federal disaster declaration for 12 counties following early August storms with hurricane-force winds that damaged a state prison.

The 2025 Nebraska Legislative Changes affecting taxation has been posted to the Nebraska Department of Revenue's website.

The Nebraska Sales Tax Exemptions chart has been updated on the Nebraska Department of Revenue's website for exemptions passed in 2025.

Governor Jim Pillen has issued a disaster declaration for 23 counties resulting from storms that impacted the state earlier this month. Thunderstorms from Aug. 8-11, 2025, resulted in exceptionally high winds and heavy rain and caused significant damage to public property and infrastructure.

Recently, due to deals President Trump is making, some are saying the United States has embarked on a version of Chinese-style “state capitalism” – directly entangling markets and government. What the argument ignores is that this started long ago.

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. A survey-high 35% of adults who participated in a Harris Poll conducted on behalf of the AICPA said that an IRS extension of tax relief beyond what’s initially provided by a state of emergency would be most helpful. Nearly 3 in 10 (29%) most wanted an improved process for requesting an extension when property is involuntarily converted (i.e., a loss of property due to natural disaster, fire, or theft), and 21% most wanted the IRS to stagger individual and business deadlines for tax relief after a disaster.

The U.S. Small Business Administration has approved a disaster declaration for six central Nebraska counties following late June 2025 storms and opened eligibility for certain low-interest loans.

The Nebraska Department of Labor released the official Paid Sick Time Notice in preparation for the implementation of the Nebraska Healthy Families & Workplaces Act, which takes effect on October 1, 2025. The new legislation requires employers with 11 or more employees to provide paid sick leave for personal and family health needs.

The Big Beautiful Bill is now officially law, but what exactly do these new tax changes mean for the US economy, government coffers, budget deficits, and taxpayers? Explore this FAQ from the Tax Foundation.

The best way to attract entry-level accounting talent is to actively recruit students on college campuses. Learn what accounting students want to know about employers and discover examples of ways to make on-campus connections with promising talent.

The CPA Evolution-aligned version of the CPA Exam, launched in January 2024, marks a significant change in the licensure process. Early indicators suggest the new exam is performing as expected, with pass rates stabilizing and volumes increasing.

President Donald Trump has signed executive orders which will precipitate a new administration plan to boost the development of artificial intelligence in the U.S. by relaxing rules and expanding energy supplies for data centers. “From this day forward, it’ll be a policy of the United States to do whatever it takes to lead the world in AI,” Trump said as he signed orders including a measure which addresses energy and permitting issues for AI infrastructure, a directive to promote AI exports and one that calls for government-procured large language models to be neutral and unbiased, Bloomberg reports. “America is the country that started the AI race, and as president of the United States, I’m here today to declare that America is going to win it,” Trump said

The bill extends many of the expiring provisions from the Tax Cuts and Jobs Act (TCJA), P.L. 115-97. It also addresses other tax priorities of the Trump administration, including providing deductions to eliminate income taxes on certain tips and overtime pay. The bill also revamps some of the TCJA’s provisions on the taxation of corporations’ foreign income and terminates a large number of clean energy tax incentives.

The Zeigarnik Effect, a psychological phenomenon, describes how unfinished tasks occupy more mental space than completed ones, leading to burnout, especially in high-pressure professions such as accounting.

The Senate Finance Committee has released its version of proposed tax provisions to be included in the budget reconciliation bill being considered by Congress. The House of Representatives passed its version of the bill, H.R. 1, known as the One Big Beautiful Bill Act, in May.

A 24% enrollment spike in accounting programs at two-year institutions highlights a strong spring semester for interest in the profession among college students.