Randal DeHart
JUNE 21, 2024
In the construction industry, unexpected challenges can arise at any moment. Numerous factors, from material delays to unforeseen weather conditions, can disrupt project timelines and budgets. From terrorism to fire, from extreme weather or earthquakes to cyber-attacks – how would your business cope if it was affected? Would your staff know what to do?
Withum
JUNE 21, 2024
Many dealerships’ operations were brought to a halt due to the second cyberattack on CDK Global software and its impact is still being felt today. “Late in the evening of June 19, we experienced an additional cyber incident and proactively shut down most of our systems,” CDK said in a statement per CNN. CDK provides over 15,000 dealerships software to support dealer operations.
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Accounting Today
JUNE 21, 2024
The Internal Revenue Service released a revised draft version of Form 6765, the Credit for Increasing Research Activities, in response to feedback.
CPA Practice
JUNE 21, 2024
A Florida man pleaded guilty yesterday to evading taxes on income he earned from commercial fishing in Massachusetts. According to court documents and statements made in court, Christopher Garraty, of New Port Richey, and formerly of Newport and East Greenwich, Rhode Island, worked as a commercial fisherman and deckhand for fishing companies operating out of New Bedford, Massachusetts.
Speaker: Gary Dmitriev
Automation promises increased efficiency and reduced costs, but how do you sift through the hype to find the right solution for your organization? Our upcoming webinar aims to demystify the process of selecting and implementing automation tools. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals.
Accounting Today
JUNE 21, 2024
Notice 2024-55 from the IRS explains exceptions to the additional tax for certain emergencies, and for victims of domestic abuse.
CPA Practice
JUNE 21, 2024
The Internal Revenue Services says that, following a detailed review, it expects to deny tens of thousands of improper high-risk Employee Retention Credit claims while starting a new round of processing lower-risk claims to help eligible taxpayers. “The completion of this review provided the IRS with new insight into risky Employee Retention Credit activity and confirmed widespread concerns about a large number of improper claims,” said IRS Commissioner Danny Werfel.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
JUNE 21, 2024
In Notice 2024-55 (PDF) issued on June 20, 2024, the Internal Revenue Service is providing guidance on exceptions to the additional tax incurred when taxpayers with tax-deferred retirement accounts take an early permissible retirement plan distribution for emergency personal expenses, and for victims of domestic abuse. This was added by the SECURE 2.0 Act of 2022, and the provisions became effective on January 1, 2024.
GrowthForceBlog
JUNE 21, 2024
9 min read June 21st, 2024 Last year, the global ERP software market was valued at $71.41 billion, and it's estimated to expand from 2024's $81.15 billion to $238.79 billion by 2032. More than 70% of large businesses use ERP software , and more than 53% of businesses experience a positive ROI as a result of implementing ERP solutions. Key Takeaways What Is ERP: The term "enterprise resource planning” refers to a platform that integrates multiple software systems to facilitate the global manageme
AccountingDepartment
JUNE 21, 2024
In this celebratory episode of Beyond the Books, host Andrea Boccard is joined by Amy Harold to discuss the prestigious Inc. Best Workplaces award.
Accounting Today
JUNE 21, 2024
The IRS will deny tens of thousands more pandemic-era employee credit claims it deems potentially fraudulent in the coming weeks, as it remains in a holding pattern for processing new claims.
Speaker: Aaron Jacob, VP of Accounting Solutions & Reagan Cook, GTM Lead
Are you struggling to navigate the complexities and challenges that come with crypto accounting? 🤔 This new webinar will cover everything businesses need to know to get started with crypto accounting after incorporating crypto into their business models! Industry experts Aaron Jacob and Reagan Cook of TaxBit will thoroughly explore the prevalent operational hurdles encountered by accounting teams when interacting with crypto on the books, and detail how software solutions can effectively
Going Concern
JUNE 21, 2024
14. That’s (up to) how many hours a week EY’s global VP of tax Marna Ricker says she’s seeing their people save with AI tools. Here she is in an ad interview with Microsoft’s WorkLab : Q: You’ve been driving AI transformation at EY, and you have been watching it reshape the broader world of tax services. How is it changing your industry?
Accounting Today
JUNE 21, 2024
Nigeria's tax agency dropped accusations of tax fraud against Tigran Gambaryan, but a separate money-laundering case brought against the former IRS employee by the anti-graft agency resumed in the capital, Abuja.
CPA Practice
JUNE 21, 2024
By Amrita Choudhary, Kiplinger Consumer News Service (TNS) The evolution of artificial intelligence (AI) has significantly influenced all aspects of human life, such as business, education, law, accounting and many more. AI technology has enabled individuals and organizations to handle huge chunks of data within the shortest time, computerize repetitive and tedious tasks and hasten the decision-making approach.
Accounting Today
JUNE 21, 2024
Workiva launches Workiva Carbon for ESG; TaxDome launches AI reporting feature; Protiviti using new "ProtivitiGPT" to enhance internal ops; and other accounting tech news.
Advertiser: Paycor
There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.
Going Concern
JUNE 21, 2024
Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. TAX CANDIDATES FTE Tax Manager | Candidate ID # 21914340 Certifications: CPA Education: BS Accounting Experience (years): 10 years accounting and tax experience Work ex
Accounting Today
JUNE 21, 2024
The Federal Accounting Standards Advisory Board says that, for federal government accounting purposes, seized digital assets aren't monetary unless they come from a central bank.
CTP
JUNE 21, 2024
An experienced tax planner will tell you that you can put together the best techniques, angles, and methods for creating a tax plan, but none of it will matter without implementation. If you create the ultimate money-saving tax plan, hand it off to your client, and they fail to take the next steps, that plan won’t save them a dollar. What is the solution here?
Accounting Today
JUNE 21, 2024
Over 500 internal penetration tests conducted from 2021-23, RSM professionals found only 1.6% of organizations had no vulnerabilities at all. Most had at around 8.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
Acterys
JUNE 21, 2024
Businesses need to be equipped to handle whatever uncertainties the future may bring, from market shifts to technological changes and regulatory updates. That’s where a scenario planning template comes in handy. These templates are invaluable for businesses looking to map out potential future scenarios and develop strategies to handle them effectively.
Accounting Today
JUNE 21, 2024
Cross-selling is the lifeblood of every professional services firm, but it's also the bane of law and accounting firm partners.
Withum
JUNE 21, 2024
In an exciting development, Oracle NetSuite was recently recognized by Frost & Sullivan, a renowned global research and consulting firm, with the 2024 Global Company of the Year Award for Leading Innovation in Cloud Business Management Solutions. This award demonstrates NetSuite’s excellence in the industry and showcases its strong technology and ability to innovate and deliver unparalleled value to its customers.
Accounting Today
JUNE 21, 2024
The Treasury Department provided formal notification to Russian authorities that it's partially suspending a tax treaty as relations worsen over the war in Ukraine.
Advertiser: Paycor
HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.
CPA Practice
JUNE 21, 2024
The Internal Revenue Service has released a new draft Form 6765 , Credit for Increasing Research Activities, also known as the Research Credit. ( [link] ) The IRS received helpful comments from various external stakeholders that have informed several revisions the IRS is making to reduce taxpayer burden. The feedback and changes will alleviate taxpayer burden, provide taxpayers with a consistent and predefined format and improve the information received for tax administration.
Accounting Today
JUNE 21, 2024
Global Reporting Initiative CEO Eelco van der Enden plans to step down at the end of the year when his three-year contract concludes.
Going Concern
JUNE 21, 2024
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.
Accounting Today
JUNE 21, 2024
The senator dismissed concerns from budget watchdogs that it could increase the deficit by $250 billion or even more over a decade.
Speaker: James Kahler, COO of Full Course
Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.
CPA Practice
JUNE 21, 2024
By Caitlin Reilly, CQ-Roll Call (TNS) The GOP party line on the expiring 2017 tax law has been to extend and make it permanent, but changing politics and growing debt has House Republicans charged with reviewing the provisions shifting away from that message. Lower tax rates on individuals, relief from the alternative minimum tax, treatment of money U.S. companies make abroad, small business deductions and other provisions established by 2017 law are set to expire at the end of next year.
CPA Practice
JUNE 21, 2024
By Caitlin Reilly, CQ-Roll Call (TNS) Senate Finance Chair Ron Wyden said committee Democrats left a meeting on next year’s tax battle aligned on the need for wealthy individuals and multinational corporations to pay more in taxes. Wyden, D-Ore., said he would work with other Democrats on the panel to come up with a “menu” of possible revenue raisers, as preparations heat up for next year’s expiration of many provisions in the 2017 tax law.
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