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Legislative Update – March 2, 2025
For complete bill history, amendments, summary, and fiscal note information, please visit https://wapp.capitol.tn.gov/apps/billsearch/BillSearchAdvanced.aspx. As the 114th Tennessee General Assembly moves into the third month of the 2026 legislative session, several fiscal, regulatory, and education‑related developments are taking shape that may be of interest to CPAs advising businesses, nonprofits, and governmental entities across the state. Below are a few of the bills…
January/February 2026 Tennessee CPA Journal
In this issue: How Practical Skill-Building Programs Are Reshaping Professional Growth The Importance of the PCAOB's Section 2 Rules: Implications for Current PCAOB-Registered Firms Trump Accounts: New IRS Guidance on a New Retirement Account for Children What Job Postings Reveal About the Future of Accounting and the Impacts of AI A&A - Cash Is King! A Focus on the Statement…
AICPA Launches Profession Ready Initiative to Transform CPA Workforce Readiness
https://www.aicpa-cima.com/news/article/aicpa-launches-profession-ready-initiative-to-transform-cpa-workforce
Department of Education Clarifies Proposed Professional Degree Definition
The U.S. Department of Education recently issued a notice of proposed rulemaking (NPRM) clarifying its proposed definition of a professional degree for the purposes of graduate student loan limits. The NPRM clarified that the term "professional student" is intended solely to distinguish the programs the department proposes would be eligible for higher student loan limits, as required by the One…
IRS Releases Lapsed Appropriations Contingency Plan
In a lapsed appropriations contingency plan posted late Friday, the IRS announced that it would remain fully staffed from Jan. 31, 2026, through Feb. 7, 2026, of a federal government shutdown. The plan explained that Section 10301 of the Inflation Reduction Act, Pub. L. 117-169, provided supplemental appropriations available through Sept. 30, 2031, for all IRS appropriations accounts. This funding…
Winter Storm Fern Alert – Jan. 29, 2026
We have received inquiries about a filing delay for the Feb. 2, 2026, deadline due to the winter weather many states have experienced this week and the winter weather anticipated for this weekend. FEMA has issued Emergency Declarations for Louisiana, Indiana, Arkansas, West Virginia, Tennessee, Kentucky, Maryland, North Carolina, Mississippi, Georgia, Virginia and South Carolina (Disasters and Other Declarations |…
IRS issues frequently asked questions about Executive Order 14247: Modernizing Payments To and From America’s Bank Account
https://www.irs.gov/newsroom/irs-issues-frequently-asked-questions-about-executive-order-14247-modernizing-payments-to-and-from-americas-bank-account
Join TSCPA for the 95th Annual Meeting & Convention
TSCPA's 95th Annual Meeting & Convention in Isle of Palms Join TSCPA for the 95th Annual Meeting & Convention on June 9-12 in Isle of Palms, South Carolina. Experience four days of professional growth, networking and relaxation at the beautiful Wild Dunes Resort. This year's Convention offers an exciting lineup of educational sessions, engaging speakers, and unforgettable social events -…
Treasury, IRS issue FAQs to address the new deduction for qualified overtime compensation under the One, Big, Beautiful Bill
https://www.irs.gov/newsroom/treasury-irs-issue-faqs-to-address-the-new-deduction-for-qualified-overtime-compensation-under-the-one-big-beautiful-bill
Tennessee Society of CPAs Hosts Annual Day on the Hill
BRENTWOOD, Tenn. - On Wednesday, Jan. 21, the Tennessee Society of CPAs (TSCPA) hosted members from across the state at the Capitol for the society's annual Day on the Hill event. Throughout the day, TSCPA members met with legislators to discuss issues of importance to the CPA profession in Tennessee. In their meetings with legislators, participants expressed TSCPA's thanks to…