Machine learning algorithms are nothing new to QuickBooks, which has been leveraging them more and more over the last few years as part of its drive toward greater automation. However Michael Hitchcock, director of product management of accounting and tax at Intuit’s QuickBooks, thinks they can do so much more.
Ernst & Young is pausing its plans to spin off the consulting side of the global network as a separate publicly traded company as it works to appease warring partner factions. EY US chair and managing partner Julie Boland reportedly told her fellow partners during a call Wednesday that the
Over-dependency; from one cell to another; the wrong kind of thinking green; and other highlights of recent tax cases. Boise, Idaho: Tax preparer Andres Sanchez, 33, has been found guilty of willfully aiding and assisting in the preparation and filing of six fraudulent returns for clients. The jury, which was
The Public Company Accounting Oversight Board issued an advisory Wednesday warning investors to exercise caution when it comes to the so-called “proof of reserve” reports that some cryptocurrency companies have been touting. The warning comes after a number of auditing firms have already stopped providing this limited form of assurance
The changing CPA exam; evils of voicemail; CHIPS may fall; and other highlights from our favorite tax bloggers. Open FBAR Virginia – US Tax Talk (https://us-tax.org/about-this-us-tax-blog/): How in “the taxpayer-friendly case” Aroeste v. United States, “sure to be appealed by “the undoubtedly furious IRS,” the court determined that FBAR filing is not
Praxity Global Alliance, an association of independent accounting, tax and advisory firms, reported record revenues for 2022 of $8.77 billion Monday, an 11.7% increase over 2021 at constant exchange rates. The total represents the combined incomes of Praxity’s member firms in more than 120 countries. The alliance reported that its
The Internal Revenue Service is cautioning taxpayers to beware of a new scam involving the Form W-2, in which fraudsters are urging people to use wage information on a tax return to claim false credits so they can score a big tax refund. One scheme that’s been circulating on social
CohnReznick, a Top 25 Firm based in New York, has expanded in Florida by adding Daszkal Bolton, a Regional Leader headquartered in Boca Raton, effective March 1. The merger represents the latest M&A deal for CohnReznick in Florida and other parts of the country. The firm now has approximately 350
Up in Michigan; no touching; gone Pro; and other highlights of recent tax cases. Biloxi, Mississippi: Tax preparer Gena Michelle Hall, 37, has been sentenced to 30 months in prison for making a materially false statement on a return. Hall worked at the tax prep business Tax Pros, and between
The Institute of Internal Auditors released for public comment Wednesday a draft of the proposed changes it wants to make to its International Professional Practices Framework, especially its International Standards for the Professional Practice of Internal Auditing. The 90-day public comment period opened Wednesday and runs through May 30. The