News Updates

Recently, due to deals President Trump is making, some are saying the United States has embarked on a version of Chinese-style “state capitalism” – directly entangling markets and government. What the argument ignores is that this started long ago.

The Nebraska Examiner invited all 49 senators to review the most recent legislative session. All responded, with one declining to participate at this time. The collection of reflections, in lawmakers’ own words, is now available.

More than 4 in 10 Americans have been victimized by a natural disaster, a stressful scenario that can take time to process. Tax-related responsibilities add to the burden, but filing relief can help. A survey-high 35% of adults who participated in a Harris Poll conducted on behalf of the AICPA said that an IRS extension of tax relief beyond what’s initially provided by a state of emergency would be most helpful. Nearly 3 in 10 (29%) most wanted an improved process for requesting an extension when property is involuntarily converted (i.e., a loss of property due to natural disaster, fire, or theft), and 21% most wanted the IRS to stagger individual and business deadlines for tax relief after a disaster.

President Donald Trump has imposed steep tariffs on imports from dozens of its trading partners, including a 35% duty on many goods from Canada, 50% for Brazil, 25% from India, 20% from Taiwan, and 39% from Switzerland. The latest executive order (EO) from the Oval Office listed higher import duty rates of 10% to 41% starting after midnight on August 7th for 69 trading partners. Goods from other countries not listed would be subject to a 10% U.S. import tax, while a 15% rate will serve as the tariff floor for countries with which the U.S. has a trade deficit.

The U.S. Small Business Administration has approved a disaster declaration for six central Nebraska counties following late June 2025 storms and opened eligibility for certain low-interest loans.

Nebraska and Iowa tied for the states with the largest losses of Gross Domestic Product in the first quarter of 2025, of 6.1%, according to a report from the U.S. Bureau of Economic Analysis. Most remaining states also saw their GDP’s shrink, though by smaller amounts, while a handful saw modest increases. GDP represents the total market value of goods and services produced during a specific time period.

The Nebraska Department of Labor released the official Paid Sick Time Notice in preparation for the implementation of the Nebraska Healthy Families & Workplaces Act, which takes effect on October 1, 2025. The new legislation requires employers with 11 or more employees to provide paid sick leave for personal and family health needs.

The Big Beautiful Bill is now officially law, but what exactly do these new tax changes mean for the US economy, government coffers, budget deficits, and taxpayers? Explore this FAQ from the Tax Foundation.

The best way to attract entry-level accounting talent is to actively recruit students on college campuses. Learn what accounting students want to know about employers and discover examples of ways to make on-campus connections with promising talent.

Lawmakers say update emphasizes need for controlling spending next session.

The CPA Evolution-aligned version of the CPA Exam, launched in January 2024, marks a significant change in the licensure process. Early indicators suggest the new exam is performing as expected, with pass rates stabilizing and volumes increasing.

President Donald Trump has signed executive orders which will precipitate a new administration plan to boost the development of artificial intelligence in the U.S. by relaxing rules and expanding energy supplies for data centers. “From this day forward, it’ll be a policy of the United States to do whatever it takes to lead the world in AI,” Trump said as he signed orders including a measure which addresses energy and permitting issues for AI infrastructure, a directive to promote AI exports and one that calls for government-procured large language models to be neutral and unbiased, Bloomberg reports. “America is the country that started the AI race, and as president of the United States, I’m here today to declare that America is going to win it,” Trump said

Nebraska ended fiscal year 2024-25 about $86 million below its expected tax revenues, further cementing the budget challenges state lawmakers will face next session.

Five Wayne State College accounting students have been awarded scholarships for the 2025-26 academic year from the Nebraska Society of Certified Public Accountants (NESCPA) Foundation.

The bill extends many of the expiring provisions from the Tax Cuts and Jobs Act (TCJA), P.L. 115-97. It also addresses other tax priorities of the Trump administration, including providing deductions to eliminate income taxes on certain tips and overtime pay. The bill also revamps some of the TCJA’s provisions on the taxation of corporations’ foreign income and terminates a large number of clean energy tax incentives.

AICPA has commended the Senate for passing the Reconciliation Bill, expressing strong support for its tax provisions.

President Donald Trump's tax-and-spending legislation was passed by the Senate on Tuesday, with a 50-50 deadlock decided with a tiebreaking vote from Vice President JD Vance, enabling the extension of trillions in tax cuts from Mr. Trump's first term and new measures like eliminating income taxes on tips. The bill proposes cuts of about $1 trillion to Medicaid and other health programs. It also raises the debt ceiling by $5 trillion. The legislation must now pass the House, where it faces opposition.

The Zeigarnik Effect, a psychological phenomenon, describes how unfinished tasks occupy more mental space than completed ones, leading to burnout, especially in high-pressure professions such as accounting.

The Senate Finance Committee has released its version of proposed tax provisions to be included in the budget reconciliation bill being considered by Congress. The House of Representatives passed its version of the bill, H.R. 1, known as the One Big Beautiful Bill Act, in May.

A 24% enrollment spike in accounting programs at two-year institutions highlights a strong spring semester for interest in the profession among college students.