A lot of different tasks make up the work of running a tax preparation practice. It’s only natural that a preparer might find some of those tasks more enjoyable than others. “My support staff is amazing, and, for the most part, do the jobs I don’t want to do,” said
BQE software, which makes a voice-enabled accounting and invoicing software suite, has snagged a growth investment from Serent Capital, an investment firm that focuses on tech-enabled services companies. The sum of the investment was not disclosed. BQE Core, the company’s flagship product, is a cloud-based platform that centralizes and automates
The National Conference of CPA Practitioners is asking the IRS to postpone the tax deadline from May 17 until June 15 and to make it apply to quarterly estimated payments. The open letter Monday from NCCPAP comes after the Internal Revenue Service and the Treasury Department agreed last week to
Accounting Today is accepting submissions for its report recognizing the Best Accounting Firms for Technology. This is the third year the publication will recognize firms in this category. Given the growing importance of technology to the profession, the report will highlight a range of firms of different sizes that represent
The COVID-19 pandemic could give remote employees around-the-clock access to company funds with little supervision and lead to embezzlement. The pandemic may be providing opportunities for financial fraud that have yet to come to light. The Association of Certified Fraud Examiners released a report in December that showed the observed
Fewer than two out of every 100 taxpayers reporting over $1 million in income were audited by the Internal Revenue Service in fiscal year 2020, according to a new report. The report, released Thursday by Syracuse University’s Transactional Records Access Clearinghouse, found that while the ranks of millionaires have nearly
The IRS will automatically process refunds for individuals who paid taxes on their unemployment benefits before Congress passed a law making those payments tax-free, Commissioner Chuck Rettig said. The automatic refund will mean that many recipients of unemployment benefits who have already filed their returns for 2020 won’t have to
The House voted to provide an extra two months for the Paycheck Protection Program, giving businesses until May 31 to apply for forgivable loans during the pandemic. The House passed the PPP Extension Act on Tuesday evening after lawmakers heard from small businesses, lenders and an official from the American
The Internal Revenue Service posted a Spanish version of its Form 1040 and instructions Tuesday and made available publications and online information in other languages. For the first time ever, the IRS posted a Spanish language version of Form 1040, known as Form 1040(SP), and related instructions for both 1040(SP)
The Internal Revenue Service has failed to collect more than $2.4 billion from wealthy individuals who owe the federal government back taxes, according to a Treasury Department watchdog report. Auditors were only able to recoup about 39 percent of the more than $4 billion in unpaid taxes owed by a