Considering Recent COSO Guidance: GenAI and the 2013 COSO Internal Control – Integrated Framework (Part 1 of 2)

Accounting & Auditing, TSCPA News /

Introduction Artificial intelligence (AI) has moved rapidly from an emerging technology to an established business tool, with organizations increasingly integrating AI-enabled capabilities into core processes, including financial reporting. The 2021 COSO publication, Realize the Full Potential of Artificial Intelligence, authored by Keri Calagna, Brian Cassidy, and Amy Park of Deloitte & Touche, provided organizations with […]

Considering Recent COSO Guidance: GenAI and the 2013 COSO Internal Control – Integrated Framework (Part 1 of 2) Read More »

IRS simplifies penalty relief, introduces automatic process for eligible taxpayers

Tax News, TSCPA News /

Issue Number: IR-2026-83 The IRS announced a new automatic process to provide penalty relief for taxpayers with a history of filing and paying on time, reducing the need for them to request assistance. The new Automatic Exemption from Penalty (AEP) will replace the long-standing First Time Abate administrative relief beginning in summer of 2026 and

IRS simplifies penalty relief, introduces automatic process for eligible taxpayers Read More »

Information Regarding Kwong v. United States

Regulatory News, TSCPA News /

The 2025 decision from the U.S. Court of Federal Claims in Kwong v. United States (Kwong) clarified how mandatory tax relief provisions under former Section 7508A(d) apply to the postponement of tax and payment deadlines during federally declared disasters, specifically the COVID-19 pandemic. In Kwong, the taxpayer sought penalty abatements for specific tax years, but

Information Regarding Kwong v. United States Read More »

TN Dept. of Revenue hosts Free Webinar July 8 for New Business Owners

For the Public, TSCPA News /

Attention, new business owners! Join the Department of Revenue on Wednesday, July 8, 2026 at 8:30 a.m. Central time for a free webinar designed for new businesses. Participants will learn about state tax obligations for new businesses in Tennessee, as well as other resources that may assist their businesses. Each new business webinar, offered quarterly,

TN Dept. of Revenue hosts Free Webinar July 8 for New Business Owners Read More »

Preparing Early-Career CPAs for Success: the Profession Ready Initiative 

TSCPA News /

The accounting profession is sending a clear message on skills: workforce readiness at the early-career level has become an evolving challenge as the business environment grows more complex and technology continues to reshape how CPAs work.   To identify and develop the skills early-career CPAs need for success, the American Institute of CPAs has launched an important effort to develop and strengthen young CPA talent:

Preparing Early-Career CPAs for Success: the Profession Ready Initiative  Read More »

AICPA Urges Families to Learn the Basics of “Trump Accounts” Before Contributing

For the Public, Legislative News, TSCPA News /

Washington, D.C. (June 26, 2026) – The American Institute of CPAs (AICPA) is encouraging families to educate themselves about new “Trump Accounts,” officially known as Section 530A accounts, so they can make informed investment choices for their children’s future. July 4 marks the official launch date, when the accounts become fully active investment accounts – allowing families to begin

AICPA Urges Families to Learn the Basics of “Trump Accounts” Before Contributing Read More »

Tennessee Department of Revenue Tax Changes

TSCPA News /

The Tennessee Department of Revenue releases notices regarding upcoming tax revenue changes. Please visit  www.tn.gov/revenue for more information regarding the tax changes. Notice #26-15: Proof of Citizenship or Lawful Presence Required for Motor Vehicle Registration Effective Jan. 1, 2027, Public Chapter 954 (2026) requires an applicant for initial motor vehicle registration that requires a license

Tennessee Department of Revenue Tax Changes Read More »

Scroll to Top
Skip to content