liscio

While many pundits in the profession claim that tax returns (read compliance) are going away, I don't think that will be true anytime soon.

Cyber insurance is now one of the most expensive lines on a firms’ business insurance policy.

By now, most tax preparers are aware they need to comply with the FTC Safeguards Rule and IRS Publication 4557.  Failure to do so could result in stiff penalties.

It only takes one breach to destroy a firm’s good reputation, and breaches are stressful and costly to remediate.  Plus, most firms cannot afford the possible FTC penalties for non-compliance.

Practitioners who fall under the ruling may be subject to an investigation by the FTC which could result in steep penalties and fines for not complying - up to $43,000 per day.

The challenge facing professionals today is that practitioners from all firm sizes are having to spend too much of their time doing low-value administrative work, instead of ...

Most practitioners pride themselves on delivering accurate, complete, and timely information to clients, and engaging with them in a friendly and focused way.

It's tempting to rely on familiar tools and processes that have worked in the past, but leading edge firms are taking steps now to understand what’s ahead and...