In a letter to the Treasury and the IRS, AICPA made recommendations to simplify the tax reporting requirements for partnerships and S corporations (collectively, passthrough entities, or PTEs). The suggestions include recommendations to help alleviate time compression constraints currently impacting the ability of tax practitioners to prepare complete and accurate returns for PTEs, specifically those with tiered structures.

Clarifying revisions to the AICPA Code of Professional Conduct related to engagements subject to the SSAEs

Twenty-eight percent of business executives said they were optimistic about the U.S. economy’s outlook over the next 12 months, down from 34% in the past quarter. Domestic economic conditions (No. 1) and inflation (No. 2) were cited as top concerns, swapping places from last quarter.

PEEC will discuss and vote on whether to release an exposure draft of changes to the Code of Professional Conduct related to alternative practice structures, including private equity.

Disciplinary actions taken by the AICPA

AICPA disciplinary publication

AICPA disciplinary publication

Download the December 2025 edition of the Reviewer alert.