News Updates

As Nebraska lawmakers consider possibly expelling a fellow lawmaker for the first time in state history, senators introduced more than 100 bills Wednesday, Jan. 7, the first day of the 2026 legislative session.

The recommendation aims to cut delays that leave taxpayers uncertain about disaster-related replacement deadlines for property.

Sen. Mike Jacobson of North Platte has introduced LB 718, which would create an alternative pathway to CPA.

Relying on a postmark to prove that a tax return or any other time-sensitive document was mailed by a specific date may no longer work as usual.

For retirees and those planning for retirement, changes this year beyond inflation adjustments for retirement contributions include higher SALT deduction amounts.

The IRS also is updating some income tax forms and instructions to help taxpayers claim the deductions.

The amount of state tax obligations Nebraska taxpayers have evaded has soared beyond $310 million, growing by 15% this past year, according to a letter released Monday, Nov. 17, 2025, by the Nebraska State Auditor.

On January 7th, we will hit the ground running for what is always a fast-track short session schedule. If things go as Speaker Arch has planned, we could be done with session as early as April 10th.

The Trump administration's proposed $100,000 increase in H-1B visa fees could jeopardize the program, prompting calls for better guest worker systems that protect workers' rights. Peter Norlander, an associate professor at Loyola University Chicago, argues that the current structure ties workers to employers, limiting their ability to leave unsatisfactory jobs. Research indicates that H-1B workers earn about 37% less than they would in a competitive market. Norlander suggests replacing the current hiring tax with a payroll tax to enhance visa portability and improve wage conditions. He emphasizes that "switching to a payroll tax could be compatible with proposals to raise the cap on H-1B visas," ultimately benefiting both workers and the economy.

The public accounting profession is undergoing significant transformation, presenting unprecedented opportunities for young professionals. As Accounting Today notes: "The next 10 years could be one of the best times in history to build a career in public accounting." Factors driving this change include a wave of partner retirements, increased consolidation of firms, and the rise of the "Intrapreneur" career path, which emphasizes advisory roles beyond traditional compliance. Technology is also playing a crucial role, enabling accountants to focus on higher-value tasks rather than repetitive work. Additionally, firms are adapting to the desires of younger professionals by offering flexible career paths and alternative ownership models. Overall, public accounting is not disappearing but evolving, creating a wealth of opportunities for those eager to lead and innovate.

Roger Ver, the prominent investor dubbed the "Bitcoin Jesus," has settled a U.S. tax evasion indictment by paying up to $49.9MM without admitting guilt. The Justice Department announced that prosecutors will dismiss the indictment after Ver acknowledged failing to pay taxes on Bitcoin sales following his renunciation of U.S. citizenship in 2014. He was charged with evading over $48MM in taxes from profits on $240MM in crypto tokens; his lawyers initially sought a pardon from Donald Trump but later negotiated the settlement. Associate Deputy Attorney General Ketan Bhirud emphasized the importance of accurate tax filings, stating, "This resolution sends a clear message: Whether you deal in dollars or digital assets, you must file accurate tax returns and pay what you owe." “I am very grateful this case has been dismissed and appreciate the Trump administration’s leadership and professionalism in working towards this final resolution," Ver said in a statement. The former chief executive of the digital wallet developer Bitcoin.com began acquiring the cryptocurrency bitcoin in 2011 and actively promoted it. The case is United States v. Ver, 24-cr-103, in the U.S. District Court for the Central District of California.

Six Department of Revenue employees were laid off in Lincoln, while at least five workers were laid off in Scottsbluff. The cuts amount to about 2.7% of the Department of Revenue's workforce, which included 409 employees as of July.

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.

Utah lawmakers recently passed legislation eliminating 150- and 120-credit-hour requirements for CPA licensure in state statutes. Utah Gov. Spencer Cox is expected to sign the bill, which will then become law on July 1, 2026, according to the Utah Association of CPAs.

Calls for reform have been growing louder as the number of US students taking accounting courses and going on to sit professional exams has fallen, leaving some accounting firms struggling to hire replacements for the Baby Boomers who are retiring.

The plan calls for more support for CPA exam candidates, retooling introductory university accounting courses to attract more students, and building awareness of accounting careers among underrepresented groups. It also urges accountants to take a “pipeline pledge,” committing to lend their time to encourage students and tell new accountants about how they’ve built fulfilling careers.