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Tipalti Adds Expense Management to Finance Automation Platform
New NovaTax Research Platform Offers State & Federal Tax Libraries, Analysis and News
Avalara Shares New Integrations and APIs in Advance of Avalara NEXT, Its Annual Virtual Conference for Developers
IRS Promises Fewer Audits of EITC Claims
Contributors….
Becky Livingston
Garrett Wagner
Richard D. Alaniz
Randy Johnston
Webinars….
CPE Webinar September 28, 2023: Source Doc Gathering, Delivery & E-Sign Issues
CPE Webinar September 27, 2023: Guide to Data Security, Compliance, & Outsourcing for Accounting Firms
Events….
Webcast: Sept. 27: Proactive Tips to Future-Proof Your Firm with Automation, AI, and CAS
“Future proofing” has been a ubiquitous post-pandemic buzzword. But how can you actually set your firm up for success? The answer is two-fold: automation/AI and client advisory services (CAS).
Accounting
Reimagining Accounting Workflow: WorkflowCon 2023 Coming in October
This two-day conference promises to equip industry professionals with the knowledge and tools necessary for unprecedented success.
IRS Establishing New Unit to Crack Down on Tax Dodging by Pass-Throughs
Group within LB&I will be tasked with holding large partnerships and other pass-throughs accountable on tax compliance.
AI Systems Take Center Stage in 2023 Innovation Awards
The Innovation Awards are presented to honor new or recently enhanced technologies that benefit tax and accounting professionals and their clients through improved workflow and efficiencies, increased accessibility, enhanced collaboration, greater accuracy, or other means.
Tipalti Adds Expense Management to Finance Automation Platform
The expense management solution integrates with Tipalti’s platform, which automates AP, procurement, cards and mass global payments to improve financial visibility and reduce errors and fraud.
New NovaTax Research Platform Offers State & Federal Tax Libraries, Analysis and News
NovaTax has partnered with Tax Analysts, a provider of original tax and accounting content, to deliver select federal and state tax news to practitioners through the NovaTax research system.
Avalara Shares New Integrations and APIs in Advance of Avalara NEXT, Its Annual Virtual Conference for Developers
Avalara is the first tax compliance provider available in Salesforce Service Cloud, Salesforce’s customer service software solution used by commercial and retail professional services businesses.
IRS Promises Fewer Audits of EITC Claims
After years of auditing some taxpayers with lower incomes at higher rates, the commissioner of the IRS said that will change.
CohnReznick Puts Down Roots in Denver
The top 20 firm will be opening its 30th office in the U.S. early next month, located in LoDo Towers in Denver’s lower downtown area.
Sam Bankman-Fried’s Bid for Jail Release Denied by Appeals Court
The former FTX co-founder has been dealt a series of setbacks as he gears up for his fraud trial, which is scheduled in two weeks.
Most Americans Haven’t Had a Pay Raise in 3 Years
Even as inflationary pressures have risen, most people haven’t seen a wage increase since the start of the pandemic, study shows.
72% of U.S. Workers Have an Unhealthy Relationship with Their Jobs, Survey Finds
A study of employees in 12 countries revealed that many struggle with self-worth, mental health, and feelings of being a failure.
Survey: Two-Thirds of Gen Zers Never Fully Read Job Contracts
Not reading what you’re about to sign can become increasingly problematic as you enter your post-college years.
Marcum Adds 31 to the Partnership
The top 15 firm promoted 31 individuals to partner at the start of September, with women making up 39% of the class.
Microsoft is Rolling Out Generative AI in Windows and Office app
Microsoft’s Copilot-branded AI assistants will provide a unified experience across operating systems, applications and devices.
Eide Bailly to Merge in California CPA Firm Raimondo Pettit
The merger, which will bring six Raimondo Pettit partners and 55 staff into Eide Bailly, is expected to happen on Oct. 30.
Revived Andersen Accounting Firm Sees Revenue Up 19% This Year
The consultancy, created by former partners of Arthur Andersen, expects revenue to exceed $1.9 billion, CEO Mark Vorsatz said.
PwC Partner Pay Drops Below £1 Million as U.K. Profit Declines
PwC will pay its U.K. partners an average of £906,000 for the latest financial year, down from a record £1.02 million in 2022.
Partners at PwC in Australia Brace for Pay Cut as Tax Scandal Hits Profit
The Big Four firm will cut partner pay by 30% next year following the tax document leaking scandal that wiped out profit for 2023.
IRS Establishing New Unit to Crack Down on Tax Dodging by Pass-Throughs
Group within LB&I will be tasked with holding large partnerships and other pass-throughs accountable on tax compliance.
Total Audit Fees Paid by S&P 500 Clients Reached All-Time High in FY 2022
However, the nearly 4% increase in audit fees over FY 2021 was less than the year-over-year inflation rate in 2022 of 6.5% in the U.S.
Great Resignation Turns Into the Great Stagnation for the Big Four Firms in the U.K.
Britain’s accountants, auditors and advisers are clinging to their jobs, nervous that their negotiating power has sharply dropped.
Deloitte Set to Cut More Than 800 Jobs in the U.K.
The move by the Big Four firm is in response to a slowdown in demand and an easing in the pace of workers choosing to leave.
CLA Expands in New York Via Acquisition
The top 10 accounting firm now has its second location in New York after acquiring Long Island-based Richards, Witt & Charles.
PCAOB Looks to Amend Rule on Auditors’ Liability for Audit Firm Violations
The proposal would hold auditors and others more accountable when they negligently cause their firm to violate auditing standards.
A Cautionary Tax Planning Tale: Timing and Formalities Are Critical
A business owner learned the hard way not to dawdle or cut corners when it comes to tax plans involving the sale of a business.
Uncertain Times Call for Creative Estate Planning Strategies
Flexibility is key so you can adjust your plans to address changes in your goals or accommodate shifts in tax legislation.
4 Tips on Managing a Multigenerational Workforce
It’s already tough hiring and retaining CPAs, and the risk of losing staff at all levels of experience is high. But you can improve your chances of holding onto valued talent by …
Sidney Kess, Tax Attorney and Author, Has Died at Age 97
Kess was called an “inspiration,” “a wonderful man,” and “one of the visionaries of the profession” by those who admired him.
Consider These Two Common Strategies to Optimize Your Taxes
Roth IRA conversions could reap significant savings, and tax-loss harvesting can offset capital gains taxes on winning investments.
IRS Looks to Hire 3,700 Agents to Pursue Wealthy Tax Dodgers
The agency is ramping up compliance efforts against high-income earners, partnerships, large corporations, and promoters.
Hunter Biden Sues IRS Over Tax Disclosures by Agency Employees
The son of President Joe Biden alleges that so-called IRS whistleblowers illegally disclosed information about his taxes.
IRS Proposes Tweaks to R&D Tax Credit Form
Stakeholders have until Oct. 31 to provide feedback on the proposed changes to Form 6765 the IRS unveiled on Friday.
Webcast: Sept. 27: Proactive Tips to Future-Proof Your Firm with Automation, AI, and CAS
“Future proofing” has been a ubiquitous post-pandemic buzzword. But how can you actually set your firm up for success? The answer is two-fold: automation/AI and client advisory services (CAS).
IRS Looks to Provide Businesses with More Tax Certainty and Issue Resolution Tools
The IRS included this initiative in its Strategic Operating Plan, which outlines how it will use funding from the Inflation Reduction Act.
EY Survey Reveals Why Gen Z and Millennial Employees Might Quit in 2024
A new survey from EY across 20 countries shows a significant gap between what employees want and what employers are offering.