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ERC IRS Audit Representation: Your Comprehensive FAQ Guide The Employee Retention Credit (ERC) has been a lifeline for many businesses during challenging times, providing substantial relief. However, with the IRS actively scrutinizing ERC claims, it’s crucial for businesses to understand their rights and options when facing an audit. In this FAQ article, we dive into the intricacies of ERC IRS audit representation , answering common questions and shedding light on the audit process, rights
By Kiplinger Consumer News Service (via TNS). The IRS has made significant progress processing its backlog of most tax returns and has cut telephone hold times, according to the Taxpayer Advocate Service (TAS). But other IRS services are still lacking. A review of the 2023 filing season identified the shortfalls. “The taxpayer experience vastly improved during the 2023 filing season.
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The Internal Revenue Service is cautioning taxpayers to beware of a new scam in which fraudsters are sending out cardboard envelopes from a delivery service asking for personal info.
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In part 1, we looked at the mounting financial costs of maintaining sales tax compliance with the thousands of tax jurisdictions nationwide. Now let’s look at how some companies have tried to game the system – and what to do so you don’t have to run that risk. Rolling the dice What have companies done to avoid complying with sales tax regs where they have economic or physical nexus?
Every business owner loves growth. It's simple. But what's not so simple is if the business can handle growth. When businesses are operating on dated enterprise resource planning (ERP) systems, it's easy to outgrow and be throttled back on growth because of it.
Every business owner loves growth. It's simple. But what's not so simple is if the business can handle growth. When businesses are operating on dated enterprise resource planning (ERP) systems, it's easy to outgrow and be throttled back on growth because of it.
If you’re a leader within an accounting firm, you’ve likely heard of advisory services and their lucrative impact. This trend is picking up pace as traditional accounting firms seek more strategic and meaningful work that goes beyond just tax returns. Offering your clients proactive advice through accounting advisory services is especially important as the regulatory and legislative landscape continues to become increasingly complex.
By Alexandra Francel, EA, MST. Whether it’s summer or any other time of the year when you feel as if you just have to get away, there’s a big question on the minds of employers and business owners. Can I mix my business travel and a vacation, and if so, am I allowed to deduct those expenses? Good news: Yes, it may be possible. With proper planning and recordkeeping, business expenses may be deducted, as long as certain requirements are met.
In 2024, the IRS will launch a pilot test of its free, direct e-file system for individual tax returns. This would be the first time the IRS offers direct electronic filing, rather than having the filing administrated through a third-party. This comes as more taxpayers than ever have turned to e-filing software. The pilot program has sparked interest in taxpayers as shown by a poll conducted by the IRS, but there is still much to learn about this new program.
Essential onboarding activities should be concentrated in the first month and quarter, and gradually taper off over the next twelve months. The post Employee Onboarding Roadmap for Startups appeared first on Burkland.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
We had to go way back in the archive for this image. In a LinkedIn post on Friday , Becker superinstructor and the man single-handedly propping up the coffee shop industry Peter Olinto announced that he is leaving Becker. “I am NOT RETIRING!!” he said in a follow-up comment. He writes: Hello LinkedIn connections and current/former students.
By Mia Gindis, Bloomberg News (TNS) A recent study of students attending four-year colleges and universities in 2022 found that two-thirds of the graduating male respondents received paid internships compared to less than half of women, despite women representing 70% of the 2,140 seniors surveyed. The research, conducted by the National Association of Colleges and Employers, is in line with other findings from previous years, suggesting that undergraduate work experiences might set the stage for
Effective Aug. 1, 2023, the noted thought leader will take the reins of the North American independent membership association of leading mid-market technology professionals, consultants and product/service providers.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
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. See ya. Talent Dear Recent Grads: Accounting is Cooler Than You Think [ LinkedIn ] A tipster sent in this recent LinkedIn post by CBIZ president Chris Spurio, calling it “tone deaf” and “dishonest.” Added
Private sector employment increased by 497,000 jobs in June and annual pay was up 6.4 percent year-over-year, according to the June ADP National Employment Report produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab. The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market.
CPA firms have been recruiting more people without accounting degrees and backgrounds as a way to fill their open jobs while expanding diversity in their workforce.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
When PwC Australia CEO Tom Seymour stepped down in May after it was confirmed he’d received tainted emails containing confidential government tax intel leaked by former partner Peter Collins, it seems the firm hoped sacrificing him was enough to settle the matter and move on. Spoiler: it was not. While us Yanks were picking up hot dog buns and fireworks in preparation for the 4th, PwC Australia was pushing out a press release to announce eight partners connected to the tax scandal were on
By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) There’s a new IRS scam to watch out for. Some people are receiving cardboard envelopes in the mail containing the IRS masthead and the wording: “in relation to your unclaimed refund.” Monday, the agency warned that the mailings are a scam to trick taxpayers into providing sensitive information to thieves.
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In this second part of Murph's mini-series on "clues to Top 100 from 2023 Aware Recipients', he provides valuable insight into how maximized 'App engagement' is the key to scoring in many different award categories.
By Jenna Anderson, Inc. (TNS). Despite concerns about inflation and interest rates, small business owners were more optimistic about the national economic outlook in the second quarter of 2023, according to a recent survey. The latest Small Business Index , a survey of small businesses from MetLife and the U.S. Chamber of Commerce, shows an increase in overall confidence from 60 to 63.1 since the first quarter of the year.
While we’re on the topic of the CPA exam, this is your eleventy billionth reminder to sit for BEC before the CPA Evolution disciplines replace it in 2024. If you have passing credit for BEC before 2024 hits then you don’t have to worry about choosing one of the new disciplines assuming you pass the other sections before that credit expires.
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If your QBO Company-file is less than 60 days old, you can simply purge all the data from it and start over. Otherwise, you must cancel your subscription and start a new one.
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Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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