PricewaterhouseCoopers is investing $1 billion in artificial intelligence technology like ChatGPT while also pouring money into geospatial technology to track rising sea levels and other signs of climate change as well as predictive analytics auditing technology, virtual reality and more. PwC demonstrated several of the products it’s been developing, and
The Internal Revenue Service’s Knowledge Management Program for disseminating employee advice and information has been difficult to use, and the employees who are supposed to be subject matter experts don’t always have the necessary experience, according to a new report. The report, released Monday by the Treasury Inspector General for
The Institute of Internal Auditors sent Congress a legislative proposal recommending that all cryptocurrency exchanges operating in the U.S. should possess an independent internal audit function to provide objective assurance over their internal controls. The proposal comes after the high-profile collapse last year of the crypto exchange FTX and other
Schulman Lobel LLP, a New York-based accounting firm, acquired the tax compliance division of DFP Partners, and merged with Tanton Grubman CPAs LLP and Steinberg Shebairo LLP, also in New York. The three recent mergers and acquisitions added over $7 million in billings and more than 30 new employees to
No prize in the box; slick; Pacific time; and other highlights of recent tax cases. Vancouver, Washington: Saul Valdez, owner of a business that offered immigrants a variety of services, has pleaded guilty to tax fraud. An unlicensed tax preparer, he led his immigrant customers to believe he was filling
A group of senators on both sides of the aisle is asking the Internal Revenue Service’s new commissioner, Daniel Werfel, to warn taxpayers and tax professionals about the emerging threat of tax scams produced by artificial intelligence programs and chatbots like ChatGPT. Sen. Chuck Grassley, R-Iowa, Maggie Hassan, D-New Hampshire,
Dumping bad clients; another crypto challenge; no IRS notice; and other highlights from our favorite tax bloggers. Debt do us part Well-worn paths Tax Pro Center (https://proconnect.intuit.com/taxprocenter/): Getting Off the Hamster Wheel Dept.: How to take the occasion of season’s end to dump the troublesome clients. Procedurally Taxing (https://procedurallytaxing.com): Has
BDO USA LLP unveiled its initial sustainability report Monday, highlighting areas where it has made progress in its environmental, social and governance efforts. The report focuses on the firm’s initiatives during fiscal year 2022, between May 1, 2021 and April 30, 2022. Among them, BDO launched a Center of Excellence
The verdict for this year’s tax season is that it was one of the most normal in years, without any of the craziness of the first three season of the COVID pandemic, or the massive tax law changes of the few years before that — and that’s all reflected in
Victims of severe storms, straight-line winds and tornadoes in Oklahoma on April 19 and 20 now have until Aug. 31 to file various federal individual and business returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency. Individuals and households that reside