TXCPA, the AICPA and state societies urged the DOE to include accounting programs leading to CPA licensure in its “professional degree” definition under new federal loan rules

The Treasury and IRS have finalized long-awaited Section 987 regulations, requiring companies with foreign-currency qualified business units (QBUs) to adopt new rules. Careful planning and documentation will be key to a smooth transition.

The TXCPA Professional Standards Committee sent comments supporting PEEC’s revised Tax Services interpretation. The updated proposal replaces the MLTN threshold with a more flexible, principles-based approach.