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A survey released this month by tax software provider Avalara shows that nearly half of accounts payable executives lack confidence in the upcoming changes to filing thresholds for 1099-K, 1099-MISC, and 1099-NEC. Additionally, only about 55% of respondents indicated they are preparing for the new 1099-DA form. Respondents primarily attribute the uncertainty to unclear communication from the IRS.

U.S. businesses need to prepare for the 'volatile and unstable regulatory landscape' brought by President Trump's executive order. The order aims to block certain state-level AI laws, sparking constitutional controversy, but existing state laws remain enforceable.

U.S. President Trump said on Monday that he will sign an executive order this week aimed at promoting a nationwide "unified rules" approach to regulating artificial intelligence technology. This move comes as U.S. companies face increasingly fragmented AI regulations across states. The White House declined to comment further, and National Economic Council Director Kevin Hassett said the order would help companies clarify the "rules of the game." Florida Governor DeSantis criticized the plan, arguing that an executive order cannot preempt state legislation. Previously, industry groups' efforts to push Congress to pass legislation had failed, and related disputes have recently intensified, leading to divisions within the Republican Party.

FASB issued a new accounting standards update (ASU 2025-11) on Monday, aimed at clarifying existing rules under interim reporting (Topic 270), without changing or reducing requirements. The new rules require entities to disclose significant events that have occurred since the last fiscal year reporting period, applicable to quarterly and reporting periods shorter than a full operating cycle or year. Effective for public companies after December 15, 2027, and for private and other entities after December 15, 2028.

The Trump administration opposes the 15% global minimum tax and demands that countries exempt US companies by year-end, creating uncertainty for multinational corporations' tax planning.

FASB officially issued Accounting Standards Update 2025-10—Government Grants (Topic 832), providing authoritative GAAP guidance for business entities to account for government grants, filling a gap of more than 50 years. The new standard applies to all business entities (excluding not-for-profit organizations and employee benefit plans), requiring grants to be recognized when receipt is probable, with disclosures of related nature, policies, and terms. The standard draws on the framework of International Financial Reporting Standards (IAS 20) with targeted improvements.

PCAOB board member Christina Ho announced on Tuesday that she will not seek reappointment, with her term having ended on October 24. She urged future board members to adhere to 'common-sense audit regulation' and noted that during her tenure she acted as a 'credible independent dissenter' in blocking certain potentially harmful rules. Ho will step down on January 31, 2025, or upon the SEC appointing a successor.

The Computer & Communications Industry Association (CCIA) released an analysis report stating that federal-level preemption of state artificial intelligence legislation is expected to bring a 'fiscal dividend' of approximately $600 billion to the U.S. federal government between 2026 and 2035, primarily driven by reduced procurement costs and increased tax revenue. The report comes as Congress is considering incorporating relevant provisions into the National Defense Authorization Act, a move that has faced bipartisan opposition from some governors and lawmakers.

The U.S. Treasury and IRS issued interim guidance on Friday, allowing more workers to temporarily benefit from the 'tip tax exemption' and 'overtime pay exemption' provisions in Trump's 'One Big Beautiful Bill.' The guidance provides transitional relief for employers and employees until final rules are issued, and waives penalties for related filings for the 2025 tax year.

Following the scandal in which former CFO William A. Smith misappropriated over $40 million, the Detroit Riverfront Conservancy announced this week the implementation of a series of financial and governance reforms, including segregation of financial duties, a reduction in board size, and the introduction of external services to strengthen oversight and prevent a recurrence of similar incidents.