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Featured….
Wolters Kluwer Adds Features to TeamMate+ to Enhance Internal Audits and Data Quality
Schellman Acquires Connor Consulting
Avalara Recognized as a Leader in Three IDC MarketScape Reports on Worldwide Tax Automation
IRS: $53 Million in TCE and VITA Grants Awarded for 2025
Contributors….
Randy Johnston
Brian Tankersley
Darren Root, CPA, CITP, CGMA
Becky Livingston
Ken Berry, JD
Webinars and CPE….
Archived Webcast – Struggling with Workflow Chaos? Discover How Identifying Your Offerings Changes Everything!
CPE Webinar: Top 10 Payroll Tasks to Prepare for Year-End
Events….
Accounting
Intuit Connect 2024 – Oct. 28-30
Get inspired by influential speakers and expert-led sessions on topics such as QuickBooks tools and services, Mailchimp, firm growth, client advisory, and more.
SYNERGY 2024 Conference – Nov. 6-9, 2024
From AI-driven solutions to cutting-edge advancements in digital transformation, find out what’s next from Thomson Reuters at SYNERGY 2024
Ensuring Success 2024 – CPAs Can Earn Up to 14 Hours of Free CPE in December
The end of the year is almost here, and that means you need to check if you have all of your CPE completed. A lot of us have just gotten out of extension season, then the election, but if you need more CPE, Ensuring Success is an easy way to earn up to 14 hours of CPE credits in 2 days, from your own office or laptop. And it’s free.
Federal Court Blocks Enforcement of Corporate Transparency Act and BOI
A new federal law that would require most LLCs, corporations and partnerships to file disclosures with the Treasury Department, including Beneficial Ownership Information, has been halted by a Texas federal judge.
Corvee to Launch Professional Tax Prep System Under Its ‘Instead’ Brand
Corvee announced that the the company’s tax management platform, Instead, has been approved by the Internal Revenue Service to offer e-filing tax preparation software, and is nearing completion of the corresponding capabilities to prepare associated state, city and other related jurisdictional tax filings.
Payroll
IRS Reminds Retirees of RMD Requirements by Year-End
Required minimum distributions (RMDs) are amounts that many retirement plan and IRA account owners must withdraw annually.
ESG
Wolters Kluwer Adds Features to TeamMate+ to Enhance Internal Audits and Data Quality
The new capabilities will enable internal audit teams to streamline planning, improve data accuracy, and enhance governance.
Mergers and Acquisitions
Schellman Acquires Connor Consulting
Headquartered in Birmingham, Alabama, and led by founder and Managing Partner, Cindy Wyatt, INSYTE CPAs has built a stellar reputation in the areas of risk management, internal control, and business processes.
Accounting
Avalara Recognized as a Leader in Three IDC MarketScape Reports on Worldwide Tax Automation
Avalara, Inc., a provider of tax compliance automation software for businesses of all sizes, today announced that it has been named a Leader in three IDC MarketScape reports covering tax automation solutions for SMB, Enterprise, and VAT.
Taxes
IRS: $53 Million in TCE and VITA Grants Awarded for 2025
The agency awarded grants to 41 Tax Counseling for the Elderly and 315 Volunteer Income Tax Assistance applicants.
CAS
AICPA and CPA.com Benchmark Survey: Client Advisory Services (CAS) Practices Report 17% Growth
CAS practices that participated in the survey reported a median growth rate of 17% and are highly optimistic about the continued opportunity of the practice area.
Small Business
Small Businesses Using GenAI Report Hiring Success and More Satisfaction With Their Employees
Generative artificial intelligence, or GenAI, takes prompts, input, and data from a user and is capable of using that data, in addition to a vast amount of training data, to create new content. If used well, GenAI has the ability to increase human productivity, efficiency, and creativity.
Taxes
Tax Court Refutes PTSD Tax Claim
The Court concluded that the taxpayers had not established sufficient grounds for proving their argument. Accordingly, the full settlement is taxable.
Small Business
Bill Launches 1099 Filing Solution
The 1099 filing offering from BILL is an all-in-one solution that enables businesses to manage their AP needs and 1099-NEC and 1099-MISC forms together from a single platform.
Firm Management
Professionals on the Move – December 2024
Professionals on the Move is a round-up of recent hiring and promotion announcements from around the profession.
Accounting
LeaseCrunch to Host Webinar with Guidance on Navigating Year-End Lease Challenges
Designed for finance professionals and accountants, this session will provide critical tools and best practices to streamline year-end lease accounting.
Small Business
Intuit and Amazon Expand Partnership to Help Small Business Sellers
QuickBooks will become Amazon’s preferred partner for financial management solutions integrated directly in Amazon Seller Central, the Amazon site where sellers manage their businesses.
Auditing
PCAOB Publishes Refresher for Auditors on Audit Committee Communications
The PCAOB said its staff continues to identify numerous deficiencies related to auditor communications with audit committees.
Auditing
PCAOB Lays Out 2025 Inspection Priorities
The staff report includes key risks and considerations for auditors, questions for audit committees, and more.
Payroll
Growth of Sports Betting May Be Linked to Financial Woes, New Studies Find
Missouri voters are the latest to approve sports betting, making it legal in 39 states and the District of Columbia.
Accounting
AICPA & CIMA Announce Inaugural Graduates of the Registered Apprenticeship for Business Partner Program
The apprenticeship graduates are established professionals that entered the program to enhance their skillsets to meet the ongoing talent demands of the finance and accounting profession.
Accounting
Indiana CPA Society Honors 20 Outstanding CPAs and Related Professionals
This year’s winners were announced at the annual INCPAS CPA Celebration on November 22 at The Crane Bay Event Center.
Payroll
Fear Over Trump Tariffs Sending Americans Into Debt, Study Reveals
A recent survey found that a third of consumers are stockpiling items and taking on additional debt because they fear higher prices.
Payroll
U.S. Job Growth Bounces Back in November
Employers added 227,000 jobs in November, led by healthcare and leisure and hospitality, according to new government data.
Taxes
Treasury and IRS Offer Guidance on Energy Efficient Home Improvement Credit
The revenue procedure provides procedures and requirements that a manufacturer of specified property must follow to be treated as a qualified manufacturer.
Firm Management
What Clients Expect From Their Accountants
Findings highlight the need for seamless technology, proactive communication, and personalized service.
Payroll
Dayforce Wallet Surpasses $5 Billion Milestone
Dayforce Wallet, the company’s flagship on-demand pay solution, has delivered over $5 billion USD through on-demand pay, early direct deposit, and paycard to employees.
Payroll
Hiring Platform Remote Eases Challenge of Finding Global Talent
The initial rollout of capabilities includes Matches, a new way to help companies find top global talent ideal for customers’ open positions, sourced from Remote’s pool of active, qualified job-seekers from all over the world.
Small Business
AMEX Report Shows Small Businesses are Embracing Tech, Eyeing Growth in 2025
Looking back on 2024, 70% of small businesses say their business became stronger following a period of uncertainty, and nearly three-quarters (74%) expect a period of stability for their business in 2025.
Taxes
Corvee to Launch Professional Tax Prep System Under Its ‘Instead’ Brand
Corvee announced that the the company’s tax management platform, Instead, has been approved by the Internal Revenue Service to offer e-filing tax preparation software, and is nearing completion of the corresponding capabilities to prepare associated state, city and other related jurisdictional tax filings.
Taxes
IRS Criminal Investigation Division Releases Its FY 2024 Highlight Reel
IRS-CI initiated more than 2,667 criminal investigations, obtained 1,571 convictions, and reclaimed its 90% conviction rate in FY24.
Small Business
AICPA Releases Statement on BOI Injunction, FinCEN Appeal
A federal court in Texas has issued an injunction barring enforcement of the Corporate Transparency Act and BOI reporting, until the case is resolved.
Auditing
PCAOB Says Audit Firm Culture is Tied to Audit Quality
Taking a deep dive into internal firm culture, a new PCAOB staff report discusses several factors that can impact audit quality.
Auditing
PCAOB Punishes New York Audit Firm, Three Partners for Deceiving Inspection Staff
The PCAOB doled out $465,000 in total fines, permanently revoked the registration of Raines & Fischer, and barred three of its partners.
Technology
Overview of 2024 CCH Connections- The Accounting Technology Lab Podcast – Nov. 2024
Brian Tankersley, CPA, and Randy Johnston provide a recap of the 2024 CCH Connections user conference.
Sales Tax
Sovos Handled Taxes on Nearly 300 Million Transactions During Black Friday and Cyber Monday
Sovos achieved record-breaking performance during this year’s Black Friday and Cyber Monday shopping events.
Auditing
PCAOB Revokes Israel-Based Audit Firm’s Registration, Bars Partner
The sanctions against Weinstein International CPA and Idan Weinstein are for violating rules on three issuer audits.