Mon.Jan 27, 2025

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2025 Tax Filing Season Starts As IRS Begins Accepting Tax Returns Today

Insightful Accountant

The Internal Revenue Service opened the 2025 tax filing season today and is accepting and processing federal individual tax year 2024 returns.

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Ethical wills can be a crucial tool for estate planning

Accounting Today

They give advisors an opening into deeper conversations with clients, while their clients can express the larger vision behind their hopes for the future.

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What Should You Do If You Suspect Your Tax Preparer Is Being Investigated by the IRS?

CPA Practice

The following is a detailed look at why your preparer's legal troubles place you at risk, what signs might indicate they are under scrutiny, and which immediate steps you can take to protect yourself from civil and criminal tax exposure.

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Deloitte acquires cloud ERP/HCM platform

Accounting Today

Big Four firm Deloitte announced that it has acquired substantially all the assets from cloud ERP/HCM automation platform SimplrOps.

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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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Deloitte Acquires SaaS Technology Company SimplrOps

CPA Practice

The Big Four firm said Jan. 27 that it has acquired SimplrOps, a San Jose, CA-based boutique enterprise software-as-a-service technology company known for streamlining and automating Workday, SAP, and Oracle operations and implementations.

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Seven indicted in huge COVID-relief fraud

Accounting Today

The charges include filing for over $600 million in false Employee Retention Credits and other funds.

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More Trending

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Art of Accounting: How to be a great employee, manager, partner, advisor and team member

Accounting Today

Whether you are the lowest-level employee or highest-level CPA firm owner or partner, your job is to provide services for the person hiring or engaging you.

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Clarification on Applicability of GST Provisions on Vouchers | Circular No. 243/37/2024-GST Dated 31st December 2024

VJM Global

The applicability of GST Provisions on vouchers has always been a matter of litigation wherein GST officials take different opinions creating ambiguity and litigations. Several questions are prevailing in the Industry to the taxability of vouchers such as: whether transactions in vouchers are considered a supply of goods or services; whether GST is leviable on the trading of vouchers by distributors or sub-distributors; Is GST applicable to unredeemed vouchers (breakage)?

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IAASB and IESBA debut sustainability assurance, ethics standards

Accounting Today

The International Auditing and Assurance Standards Board and the International Ethics Standards Board for Accountants launched their sustainability standards.

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SEC Issues SAB 122, Officially Rescinding SAB 121

Withum

On January 23, 2025, the U.S. Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin (SAB) 122 officially rescinding SAB 121. SAB 121 was issued by the SEC on March 31, 2022. The purpose, per the SEC, was to provide guidance on the accounting for obligations to safeguard crypto-assets that an entity holds for its platform users. Some of the key points from SAB 121: Safeguarding Obligations and Measurement : Entities that hold crypto-assets for their users would have been requi

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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CFOs plan smaller pay raises this year

Accounting Today

Fewer CFOs expect to give out pay increases to employees in 2025 and the raises are likely to be smaller, according to a new survey from Gartner.

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Common accounting terms for not for profit organisations

Accounting for Good

Are you a Not For Profit organisation? We know the terms and acronyms in accounting can be overwhelming at times.

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Intuit tests new interface combining QBO and Mailchimp

Accounting Today

Intuit is testing a new user interface that will combine features from QuickBooks Online and Mailchimp, both Intuit properties.

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Accounting services not for profit

Accounting for Good

For many not for profit organisations having an internal finance department is costly. Outsourcing this function to professionals makes economic sense.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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Sales Tax Trip Tuesday Time - January 2025

Insightful Accountant

That's right, Sales Tax Tuesday is back, but with a few changes. We are taking one four state trip per month and paying sales and other taxes in every state along the way. So join us for this first adventure. departing Wichita, Kansas.

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Scott Bessent Easily Confirmed as Trump’s Treasury Secretary

CPA Practice

The hedge fund manager is poised to be a key player asCongressfaces down more than $4 trillion in expiring tax cuts at the end of this year, which he warned during his confirmation hearing would have devastating consequences if allowed to lapse.

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Tax Deferral Opportunities Through New ETF Conversions: Section 351 Application

Insightful Accountant

Recent innovations in ETF structures are expanding tax-advantaged portfolio restructuring options for clients with concentrated positions in appreciated securities leveraging Section 351 of the IRS Code.

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Intuit Rolls Out Test of New Interface Combining QBO and Mailchimp

CPA Practice

Intuit said on Monday that it has begun testing a new QuickBooks interfacethat creates a combined QuickBooks and Mailchimp platform experience, which the Mountain View, CA-based company said will help businesses accelerate productivity and profitability.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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Acumatica Summit 2025 Day 1

Insightful Accountant

Live from Las Vegas, Murph brings you the latest news from the Acumatica Summit 2025.

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Donor-Advised Funds Are Growing, But If You Have One, You Should Shrink It

CPA Practice

The point of a donor-advised fund is to put money in the hands of charities, not grow it like another investment account.

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Why the Human Element is Your Biggest Asset as a Business Advisor

Canopy Accounting

Looking for a way to give your firm a competitive advantage over the hundreds of thousands of licensed CPAs, experienced EAs, and talented business advisors in the U.S.?

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Cutting Services or Raising Taxes: State Lawmakers Weigh How to Fill Big Budget Gaps

CPA Practice

Leaders of several states are proposing cutting social programs such as child care, victim services and Medicaid, or raising taxes on cigarettes, spirits or households with the highest incomes, to balance state budgets.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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DeepSeek's overnight fame strains its systems, draws attacks

Accounting Today

The fallout from the seemingly overnight surge in interest around the Chinese AI upstart was swift, and severe.

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SD Mayer Merges in Ronald Ruttenberg & Co. CPAs in California

CPA Practice

Weeks after merging in San Francisco-based accounting firm Bogdan & Frasco, top 400 firm SD Mayer & Associates announced another deal on Monday, this time joining forces with Burlingame, CA-based Ronald Ruttenberg & Co. CPAs.

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IRS starts tax season with hiring freeze and rescinded job offers

Accounting Today

The IRS kicked off tax season facing a hiring freeze imposed by President Trump in an executive order and uncertainty over $20 billion in budget cuts.

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IRS Takes Some Job Offers Off the Table as Tax Season Begins

CPA Practice

Tax season 2025 began on Monday, but for some people who were set to start a career at the IRS during the agency's busiest time of the year, their new opportunity has come to a screeching halt because of a hiring freeze put in place by President Donald Trump during his first week in office.

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Trump repeats pledge to eliminate taxes on tips

Accounting Today

President Trump reiterated his pledge to eliminate taxes on income from tips during a rally in Las Vegas, where the hospitality and service industry is dominant.

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Trump Touts Proposal to End Taxes on Tips During Las Vegas Visit

CPA Practice

The pledge to end taxes on tipped income, first introduced over the summer at a rally in service industry-reliantLas Vegas, became a key pitch in his winning presidential campaign.

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Turning the Tide: How Mike Habib EA’s Los Angeles-Based Firm Appeals Negative Tax Outcomes

MyIRSRelief

Tax disputes can feel like an uphill battle. Whether youre facing an unexpected audit result, a denied tax claim, or a hefty penalty from the IRS, the emotional and financial toll can be overwhelming. For many taxpayers, the idea of challenging the IRS seems daunting, if not impossible. However, with the right representation, appealing negative tax outcomes is not only possible but can lead to significant victories.

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Anders Selects the Cystic Fibrosis Foundation – Gateway Chapter as 2025 Charity of Choice

Anders CPA

Anders has named the Cystic Fibrosis Foundation Gateway Chapter as its 2025 Charity of Choice, coinciding with the 20th anniversary of the firms Charity of Choice program. Dedicated to funding research and providing support for those impacted by cystic fibrosis (CF), the foundation aligns with Anders ongoing commitment to community impact. Since 2005, the Anders Charity of Choice program has raised over $400,000 to support causes such as Missouri Veterans Endeavor, Lydias House, The Child Advoc

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.