TXCPA and the TXCPA Peer Review Committee provided comments on Proposed Peer Review Standards Update No. 3, Modernizing Peer Review Administration Requirements, expressing concern with the proposed changes and recommending an alternative approach.

HR 1, the One Big Beautiful Bill Act (OBBBA), makes permanent several favorable changes to Section 163(j), while introducing new anti-abuse and foreign corporation limits starting in 2026. Tax professionals should review these updates.

Certified mail isn’t optional—it’s protection. Learn how to properly establish proof of timely IRS filings and avoid penalties under Section 7502. Read more on TXCPA.org.