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IRS Provides Tax Relief to All of Florida After Hurricane Milton
GASB Asks For Input on Infrastructure Assets Proposals
RSM US and RSM UK Plan Merger of Transatlantic Units
The Missing Piece of Your M&A Plan: Merging Process & Technology
Contributors….
Randy Johnston
Brian Tankersley
Darren Root, CPA, CITP, CGMA
Becky Livingston
Ken Berry, JD
Webinars and CPE….
CPE Webcast Nov. 14. – Selecting the Right Payroll Partner for Your Business Growth
CPE Webcast Oct. 24. – Stop Resisting Change & Start Controlling It
Events….
Technology
K2 Artificial Intelligence Conference – June 20 – 8 Hours CPE Available
K2 Enterprises will host the Accountant’s Artificial Intelligence Conference, a new virtual event that is set to make an indelible mark on your professional skill set.
Taxes
Tax In Motion 2024 Federal Tax Forum – June 25-26, 2024
Join RSM’s highly anticipated two-day federal tax forum for comprehensive sessions covering crucial updates in federal tax regulations and practices.
IRS Provides Tax Relief to All of Florida After Hurricane Milton
Because of hurricanes Debby, Helene, and Milton, affected taxpayers have until May 2025 to file returns and make tax payments.
How the Accounting Community is Rallying Around Victims of Hurricane Helene
CPA Practice Advisor wants to highlight those who have begun or are in the process of mobilizing efforts to help those impacted.
2024InnovationAwards
The 2024 Tax and Accounting Technology Innovation Awards Announced
CPA Practice Advisor has announced the 2024 Tax and Technology Innovation Award winners and finalists. Now in their 21st year, the awards highlight technologies that advance the profession.
Accounting Standards
AI and Privacy Regulations – The Accounting Technology Lab Podcast – Oct. 2024
Hosts Brian Tankersley, CPA, and Randy Johnston discuss how the privacy implications of artificial intelligence and new regulations attempting to address these issues.
Taxes
IRS Provides Tax Relief to All of Florida After Hurricane Milton
Because of hurricanes Debby, Helene, and Milton, affected taxpayers have until May 2025 to file returns and make tax payments.
Accounting
GASB Asks For Input on Infrastructure Assets Proposals
Several proposals on the accounting for infrastructure assets are on the table to review and provide feedback.
Firm Management
RSM US and RSM UK Plan Merger of Transatlantic Units
The merger would establish a partner-owned multinational organization spanning locations across the U.S., the UK, Canada, Ireland, India and El Salvador, supported by 23,000 professionals, with combined annual revenues of $5 billion U.S.
The Missing Piece of Your M&A Plan: Merging Process & Technology
Firm leaders often overlook a critical aspect of uniting two firms: integrating processes and technology.
Taxes
Tax Gap For 2022 Estimated At $696 Billion, IRS Says
The projected gross tax gap for 2022 is down $12 billion from a revised 2021 tax gap of $708 billion, the agency said Oct. 10.
Accounting
Numeric Raises $28 Million in Series A Funding
The new $28 million in funding comes on the heels of a $10 million seed round announced five months ago.
Financial Reporting
Validis Launches Upload Functionality to Streamline Data Collection
The new Upload functionality now makes Validis accessible to all businesses, regardless of their accounting package.
Payroll
SSA Issues 2.5% COLA Increase For 2025
The Social Security Administration’s cost of living adjustment for 2025 is the lowest increase recipients have received in years.
Small Business
Convenience Stores Face Many Challenges on Regulated Business Licenses
The multitude of products sold may require obtaining licenses from federal, state, county, and local jurisdictions.
Taxes
NYU School of Professional Studies to Host the 83rd Institute on Federal Taxation in New York and San Diego
Designed for professionals who handle federal tax matters, the IFT provides high-level updates, insights, analyses, and practical advice from America’s top tax authorities on the latest federal tax trends and developments.
Firm Management
WorkflowCon 2024 Virtual Event to Offer Accounting Firms Guidance on Building Sustainable Growth
The speaker lineup includes industry powerhouses like Brandon Hall, Logan Graf, Kelly Rohrs, Dawn Brolin, Erica Goode, Keila Hill-Trawick, Kellie Parks, Zane Stevens, Chad Davis, and Nancy McClelland. Over 1,000 accountants and bookkeepers are expected to attend this 100% virtual and free event.
Financial Planning
Avantax Adds New Advisor Members with Approximately $390 Million in Combined Asset Management
Financial professionals transferring to Avantax receive the tax-intelligent tools, technology, resources and home office support needed to help clients pursue their financial goals.
Small Business
Alcohol Sellers in Alaska Need New License to Ship Directly to Consumers
As of January 1, 2024, beverage alcohol producers must have a license to ship alcohol directly to consumers in Alaska.
Taxes
Trump Pledges to Eliminate Income Taxes on Americans Living Abroad
His plan could allow wealthy Americans to move to low-tax countries and avoid any tax obligations.
70% of Finance Professionals Plan to Invest in AI in Next 5 Years
60% of respondents who had already deployed an AI-related Finance project characterized the deployment as successful.
Accounting
How the Accounting Community is Rallying Around Victims of Hurricane Helene
CPA Practice Advisor wants to highlight those who have begun or are in the process of mobilizing efforts to help those impacted.
Small Business
Small Businesses Hit a Hiring Slump Across the U.S. in September, CBIZ Index Shows
After rebounding in August, hiring significantly slowed last month among small businesses throughout the country, CBIZ said.
Small Business
Businesses Boarding Up as Floridians Go Inland to Avoid Hurricane Milton
About 1,440 people had checked into Orange County’s 11 shelters by noon, including 116 people with special needs, a county official said.
Taxes
AICPA Comments on Dual Consolidated Losses, Disregarded Payments
The AICPA highlighted several areas of concern in the proposed regulations from the Treasury Department and the IRS.
Payroll
Finance Sector Hit Hardest By Job Scammers, Report Finds
The report from Heimdal Security reveals job scammers’ top tactics and targets based on an analysis of 2,670 social media posts.
Accounting
Bloomberg Tax & Accounting Launches Innovation Studio
The new AI Assistant is the first feature released within the Innovation Studio, which is being called “an ideation environment.”
Payroll
Private Assets in 401(k) Plans Pique Investors’ Interest
Over one-third of plan participants would allocate assets in private equity and private debt, a Schroders survey found.
Taxes
Taxfyle and Column Tax Partner on End-to-End Embedded Tax Solution
The solution will support users with offerings such as DIY taxes, on-demand tax consultations, and full-service professional tax offerings.
Small Business
Maine Nonprofits Get Blanket Sales Tax Exemption
As of January 1, 2025, thousands of nonprofits in Maine will be eligible for a blanket exemption.
Technology
The Future of Tax: How Corporations Can Leverage New Technology for Tax Efficiency
Digitalization is reshaping the way tax is collected, paid, and managed. According to the survey, 90% of respondents reported seeing progress being made towards digital streamlining and automation in tax processes.
Auditing
Finance Leaders Want Their Organization’s Audit Firm to Use AI—Immediately
Before engaging with an auditor, 64% of finance leaders say they look for the audit firm to use AI, according to a new BDO USA report.
IRS
Treasury, IRS Issue Guidance on Long-Term, Part-Time Employees in 403(b) Plans
In addition, the Treasury Department and the IRS announced a delayed applicability date for related final 401(k) regulations.
Taxes
Wolters Kluwer Provides Insights Into 2024 Natural Disaster Tax Relief Options
Crucial tax relief opportunities may be available to those affected by recent natural disasters, such as Hurricane Helene.
AICPA Submits Comments Regarding ‘Once Out, Always Out’ Pillar 2 Rule
The association recommends the OECD clarify that a Multinational Enterprise group (MNE Group) is only required to meet the Transitional CbCR Safe Harbour for …
Taxes
IRS Proposes Regs to Exempt Tribal-Owned Companies From Income Tax
During discussions with Treasury, tribes had requested rules on the federal tax classification of entities owned by tribes.
Payroll
Talking About Money is More Taboo than Politics or Religion, According to Survey
Money is such an awkward topic that only 38% of U.S. adults feel comfortable discussing their bank account balances with family and close friends…