AI can now do most of the boring, routine, repetitive work like data entry, transaction coding and AP/AR, which raises the question of what exactly the human accountants will be doing. According to several major software vendors featured during the Institute of Management Accounting’s technology showcase, the answer apparently is
The Internal Revenue Service said Friday that more than 1.2 million taxpayers only have until April 15 to claim a total of approximately $1.2 billion in refunds for tax year 2022. Processing Content The IRS estimates the median refund amount is $686, with about half of them for a greater
GI series; On the eve of redemption; telecom con; and other highlights of recent tax cases. Processing Content Burlington, North Carolina: A Burlington woman has been sentenced to 25 months in federal prison after pleading guilty to helping clients file false tax returns. Tracey Hernandez, 39, pleaded guilty to one
The Internal Revenue Service issued a notice Wednesday extending temporary relief for another year on using alternative methods for brokers of digital assets, such as cryptocurrency. Processing Content Notice 2026-20 extends the temporary relief provided last January under Notice 2025-7 for an additional year. The notice allows eligible taxpayers to
Auvenir, an accounting and compliance technology provider founded as a Deloitte venture, has officially launched as an independent company that now styles itself Streamworks Tech. The Big Four firm sold the company to its own management team. Processing Content Neeraj Sharma, chief operating officer of Streamworks, said in an interview
While small business solutions company Xero has spent years adding AI features to its platform, Diya Jolly, chief product and technology officer, said this is the year the company intends to spread the technology throughout the core of its product. Processing Content “2026 is about moving from AI as a
The Supreme Court recently heard oral arguments in a case revolving around whether a county in Michigan violated the constitutional rights of a homeowner whose property was foreclosed on and sold for far more than he owed in taxes, but far less than it was probably worth. Processing Content The
The Internal Revenue Service confirmed Friday that Treasury Secretary Scott Bessent’s term as acting IRS commissioner has expired, although he will continue to oversee the IRS as part of his duties running the Treasury Department. Processing Content Bessent became acting commissioner of the IRS after the departure last August of
The Internal Revenue Service changed the submission process earlier this week for groups that intend to operate as 501(c)(4) tax-exempt organizations, requiring them to submit their forms electronically through Pay.gov, a move that could have political ramifications ahead of the midterm elections. Processing Content Starting March 9, 2026, Form 8976,
A change made by the Internal Revenue Service in its instructions for claiming the new tax deduction for tips is making it more difficult for self-employed and gig economy workers to claim, and may require their tax preparers to submit amended or superseding tax returns. Processing Content The IRS issued