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Featured….
PwC Locks Down Top Spot in Vault’s Best Accounting Firms Ranking for 2025
Florida Lawyer Gets 8 Years in Prison for Fraudulent Charity Tax Claims
7 Data-Driven Trends Impacting Tax Operations
CFO Optimism Hits 3-Year High
Contributors….
Becky Livingston
Garrett Wagner
Richard D. Alaniz
Randy Johnston
Webinars and CPE….
Webinar: Effortless Tax Prep and Workflow: Say Goodbye to Client Frustrations
CPE Webcast Apr. 2, 2024: The Future of Media & Entertainment: Leveraging Data and Finance
Events….
Accounting
Xerocon 2024 Nashville: Aug. 14-15, 2024
The event will be hosted at the Music City Center, allowing Xero’s community of accountants and bookkeepers from across the U.S., Canada and beyond the chance to connect, as well as options for earning CPE credit.
Accounting
RightNOW Conference 2024
Top influencer keynotes, transformative tech insights and AI innovators converge to elevate the accounting profession at RightNOW 2024. May 14-16, 2024 | Austin, TX.
IRS Touts Strong, More Efficient 2024 Tax Season
It’s Tax Day, so there’s no better time for the IRS to pat itself on the back for a job well done as filing season ends for most Americans.
Cast Your Vote for 2024 Readers’ Choice Awards!
The CPA Practice Advisor Readers’ Choice Awards give readers the opportunity to spotlight the technologies they most rely on and trust to manage their firms.
Accounting Standards
Florida Creates New Status for Retired CPAs in the State
The legislation allows licensed CPAs who are at least 65 years of age to apply to the Florida Board of Accountancy (BOA) to place their license into retired status.
Accounting
PwC Locks Down Top Spot in Vault’s Best Accounting Firms Ranking for 2025
PwC has been ranked the No. 1 best accounting firm to work for by Vault for the last 12 years.
Taxes
Florida Lawyer Gets 8 Years in Prison for Fraudulent Charity Tax Claims
A Florida attorney was sentenced today to eight years in prison for conspiring to defraud the United States and tax evasion.
Taxes
7 Data-Driven Trends Impacting Tax Operations
Despite chronic and pandemic-specific challenges however, the IRS is making strides in returning to business as usual.
Small Business
CFO Optimism Hits 3-Year High
A new survey from Grant Thornton LLP shows that chief financial officers are more optimistic about the U.S. economy than they’ve been in nearly three years.
Taxes
IRS Touts Strong, More Efficient 2024 Tax Season
It’s Tax Day, so there’s no better time for the IRS to pat itself on the back for a job well done as filing season ends for most Americans.
Taxes
IRS Adds More Census Tracts For EV Charger Tax Credit
These additional census tracts were determined to meet the description of eligible census tracts in Notice 2024-20, the IRS said.
TaxDome Completes SOC 2 Type I Audit Examination
This achievement underscores their unwavering commitment to maintaining the highest levels of data security and safeguarding client information.
Artificial Intelligence
How Artificial Intelligence is Revolutionizing the CPA Practice
Embracing innovation, particularly the transformative power of AI, is key to ensuring long-term success in the accounting profession.
Payroll
Many Hiring Managers Ask Illegal Questions During Interviews, Survey Finds
Questions to candidates about citizenship, race, disability, and other characteristics often skirt what’s allowed by law.
Taxes
4 Key Crypto Tax Tips for Entrepreneurs and Digital Investors
By taking the right steps, it’s possible to avoid overpaying taxes and enjoy tax benefits.
Accounting
RightTool Wins 2024 Accountant Bracket Challenge
The QuickBooks automation tool defeated CPA Jason Staats, host of the Jason Daily podcast, in the final by a score of 355-110.
Taxes
Shohei Ohtani’s Ex-Interpreter Charged With Bank Fraud, Stole $16 Million From Baseball Star
Ippei Mizuhara’s involvement in illegal gambling turned up in a far-reaching investigation by federal agencies including the IRS.
Small Business
Retail Sales and Wages Grew in March
This is the sixth month that the Retail Monitor, which was launched in November, has provided data on monthly retail sales.
Technology
Tesla to Launch RoboTaxi on August 8
Tesla Inc. plans to unveil its long-promised robotaxi later this year as the electric carmaker struggles with weak sales and competition from cheap Chinese EVs.
Taxes
Trump Tax Cuts Were Neither Panacea Nor Rip-Off
While the cuts yielded benefits to Americans up and down the income scale, the benefits could best be described as modest.
Auditing
PCAOB Really Flexed Its Enforcement Muscles in 2023
Total enforcement activity reached its highest level since 2017 and monetary penalties doubled compared to the record set in 2022.
Security
The Accounting Technology Lab Podcast – Cybersecurity for High Net Worth Clients – Apr. 2024
Hosts Randy Johnston and Brian Tankersley, CPA, discuss cybersecurity issues and strategies for managing high net worth clients.
Firm Management
Crowe Adds Southern California Accounting Firm KMJ Corbin & Company
KMJ’s audit and tax capabilities and industry sector specialization will offer an unrivalled client experience and augment Crowe’s ability to serve the ever-expanding needs of its client base in California.
Firm Management
CohnReznick Launches Digital Advisory Practice, Aligns with Top Solutions Providers
The digital practice empowers businesses to unlock their full potential through innovative enterprise applications, advanced data analytics, and transformative AI strategies.
Accounting
Fortune Includes 7 CPA Firms in 2024 ‘100 Best Companies to Work For’ List
The same seven public accounting firms that made Fortune’s list for 2023 also made this year’s ranking—just their positioning changed.
Taxes
Feds Cracking Down on Unlawful Tax Return Preparers
Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.
Taxes
COUNTERPOINT: IRS Should Not Be Trusted With Direct File
Despite its recent trendiness in certain circles, Direct File has little potential for good—and much for bad.
Taxes
POINT: IRS Direct File Simplifies Doing Taxes, Saves Money
The new IRS Direct File tool represents government at its best: saving families time and money.
Payroll
New Grads to Face Active Hiring Market, Higher Starting Salaries
Average starting salaries for entry-level financial reporting accountants are $54k-67K. Internal auditor starting salaries average about $50-55K.
Auditing
PCAOB Proposal Would Require Audit Firms to Disclose a Variety of Metrics
The proposal would direct firms to provide more information, like involvement of partners and auditor turnover, to investors.
Auditing
PCAOB Wallops KPMG Netherlands With Record $25M Fine For Exam Cheating
Rampant cheating on internal training exams occurred from 2017 to 2022 and the firm lied about its knowledge of it, the PCAOB said.
Technology
Webinar: Effortless Tax Prep and Workflow: Say Goodbye to Client Frustrations
Erase client frustration with automated tax return delivery they will want to adopt.
Accounting
Jason Staats Set to Face RightTool in 2024 ABC Tournament Final
Voting for the championship match between CPA Jason Staats and QuickBooks automation tool RightTool ends April 12.
Accounting
Ex-Trump Finance Chief Sentenced to Five Months in Jail For Perjury in Fraud Case
Former Trump Organization CFO Allen Weisselberg pleaded guilty to two first-degree perjury counts in March.
Accounting
FloQast Secures $100 Million in Series E Funding, Achieving $1.6 Billion Valuation
With this latest investment, FloQast achieves a post-money valuation of $1.6 billion, underscoring its position as a leader in the accounting and finance technology sector.
Sales Tax
Oklahoma to Exempt Groceries from State Sales Tax
Come August 2024, the Sooner state will cut back by providing a partial sales tax exemption for food for home consumption.