G.C. Consultants INC

08/04/2026

The IRS recognized National Whistleblower Day, highlighting that whistleblower information has helped recover more than $8 billion since 2007. The agency also noted new digital tools, online reporting, and expanded alerts to make tax fraud reporting easier.

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IR-2026-84, July 28, 2026 — The Internal Revenue Service today highlighted the upcoming National Whistleblower Day, and the important role whistleblowers play in exposing fraud, reducing the tax gap, and strengthening compliance.

08/03/2026

The Senate Finance Committee advanced the Taxpayer Assistance and Service Act, a bipartisan tax bill supported by the AICPA to improve taxpayer service and modernize IRS operations. The bill includes measures to expand online accounts, improve refund and backlog visibility, strengthen taxpayer support, and set clearer standards for paid tax preparers.

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The Senate Finance Committee approved the Taxpayer Assistance and Service Act, legislation backed by the AICPA that would modernize IRS operations, expand taxpayer services, and give the IRS authority to deny, revoke, or suspend preparer tax identification numbers.

07/30/2026

The National Taxpayer Advocate says the IRS delivered a strong filing season for online taxpayers, with efficient electronic filing and refund processing. This USA tax update also highlights service gaps for taxpayers needing human assistance, paper checks, identity theft resolution, or help with complex account issues.

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The national taxpayer advocate’s Fiscal Year 2027 Objectives Report to Congress says the IRS processed about 139 million returns and handled most refunds smoothly but says the story was different for taxpayers who needed help from a human being.

07/23/2026

FASB is seeking public comment on a proposal to improve U.S. fair value reporting requirements for investment companies. The proposal aims to increase transparency, enhance comparability, and provide investors with more useful information about fund investments.

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07/16/2026

The IRS offers a gift tax reporting safe harbor for individual donors who make qualified contributions to Trump Accounts for eligible children. This USA tax update aims to simplify reporting, clarify annual exclusion treatment, and reduce filing burdens for covered taxpayers.

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The guidance sets forth conditions for contributions to qualify for the annual gift tax exclusion and for donors to avoid filing gift tax returns.

07/15/2026

The IRS is offering special Saturday hours at select Taxpayer Assistance Centers to help people access in-person support outside the traditional workweek. This USA tax update highlights services for taxpayers with account questions, notices, payments, identity verification, and other tax-related needs.

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IR-2026-78, June 22, 2026 — The Internal Revenue Service today announced select Taxpayer Assistance Centers will be open Saturday, June 27, for the final Saturday service event of 2026.

07/14/2026

FASB is seeking public comment on a proposal to improve U.S. accounting guidance for certain market return cash balance pension plans. The update aims to reduce complexity, improve consistency, and make financial reporting more useful for investors and other stakeholders.

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07/08/2026

The IRS outlines how Circular 230 duties apply when tax practitioners use artificial intelligence in client work. This USA tax update emphasizes due diligence, professional judgment, data security, accurate advice, and responsible AI oversight.

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The IRS warned that AI’s risks — including fabricated outputs and data privacy concerns — require practitioners to verify results and follow existing Circular 230 rules on diligence, competence, and confidentiality.

07/07/2026

The National Taxpayer Advocate’s report highlights a generally successful U.S. tax filing season, with strong electronic filing, refund processing, and online account usage. It also urges the IRS to improve taxpayer service, reduce refund delays, and ensure modernization efforts do not leave vulnerable taxpayers behind.

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IR-2026-79, June 24, 2026 — National Taxpayer Advocate Erin M. Collins today released her Fiscal Year 2027 Objectives Report to Congress, highlighting a largely successful 2026 filing season in which the IRS processed nearly 139 million individual tax returns, issued more than 90 million refunds, ...

07/06/2026

FASB is seeking public comment on proposed targeted improvements to U.S. hedge accounting guidance for interest rate risk hedging and net investment hedging. The proposal aims to better align financial reporting with companies’ risk management activities and make hedge accounting information more useful for investors.

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