Enjoy complimentary access to top ideas and insights — selected by our editors. Use yesterday to have a better tomorrow. Here are three questions you can respond to to use as a guide to make tomorrow better. 1. What clients do you dread getting a call from? There are two
This simple question above deserves a simple answer, which will hopefully lead to additional questions and dialogue. The simple answer is … only as fast as knowledge can be retrieved (accessed). Nick Sonnenberg, author of “Come Up for Air,” states that many organizations fail to realize that complexity scales exponentially
The Internal Revenue Service and the Treasury continue to release guidance and tools around the clean energy tax credits included in the Inflation Reduction Act and other legislation. Businesses, tax-exempt organizations or entities such as state, local and Indian tribal governments can now register for associated tax credits using the
Individuals and businesses in parts of Tennessee affected by severe storms and tornadoes that began earlier this month now have until next June to file various federal individual and business tax returns and make tax payments. The Internal Revenue Service is offering relief to any area designated a disaster area
The Public Company Accounting Oversight Board issued a staff report sharing the results of the inspections conducted by its “target team” in 2022. A group of PCAOB inspectors who conduct in-depth reviews across audit firms, the target team focuses on areas of emerging audit risk. For 2022, it had three
The IRS has granted about $1 billion in penalty relief to some 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pandemic. Most getting the relief make less than $400,000 a year. During COVID-19, the IRS temporarily suspended mailing of automated reminders
Too much money; five little letters on how clients might see you; loss-harvesting season; and other highlights from our favorite tax bloggers. Manual AI Weird Keller Advisors (https://ritakeller.com/wordpress/): Think some of your clients are weird? Imagine what they think of you. The Tax Times (https://www.thetaxtimes.com): A look at the IRS
The New York judge in Donald Trump’s civil fraud trial denied the former president’s request for an immediate verdict in his favor, criticizing his defense and suggesting his star witness was motivated by money. The witness, accounting expert Eli Bartov, “is a tenured professor, but all that his testimony proves
Under Development; lack of security; CI at work; and other highlights of recent tax cases. Trenton, New Jersey: Business owner Khuram Raja, of Locust Valley, New York, has admitted to evading personal income taxes. During tax years 2016 to 2018, he owned and operated a company that provided construction and
Enjoy complimentary access to top ideas and insights — selected by our editors. The use of artificial intelligence is becoming so common in everyday life that even the accounting profession is embracing the change. AI innovation is the hot topic at accounting events, the IRS is continuing to roll out