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Accounting software giant Intuit has introduced new cloud-hosting capabilities for Lacerte and ProSeries products, in partnership with Right Networks, which has provided cloud hosting for Intuit products for almost two decades. The new offerings, named Hosting for Intuit ProSeries and Hosting for Intuit Lacerte, will allow users of each suite to eliminate on-site servers if […]
Paro, a Chicago-based company that uses technology to bring freelance accounting and finance professionals together with companies that have short-term and temporary staffing needs, has raised $10 million in funding. The company plans to use the money from the recent fundraising round to expand its suite of workflow automation tools and to pursue more enterprise […]
The IRS has issued additional guidance on common questions regarding the tax treatment of a cryptocurrency hard fork (when a single cryptocurrency splits in two). A new set of FAQs also addresses virtual currency transactions for those who hold it as a capital asset. Some taxpayers with virtual currency transactions may have failed to report […]
Cloud computing has not only transformed how businesses and people conduct their daily activities, it has also clouded the landscape for taxing such technological advancements. In 1998, the same year Google was founded, the Internal Revenue Service finalized the regulations governing the taxation of cloud computing transactions. With a reboot so clearly overdue, the IRS […]
Thomson Reuters has released Checkpoint Engage PCR (preparation, compilation and review), a new product in its Checkpoint suite of research and guidance products. Checkpoint products engage an editorial team made up of accounting, legal and other experts to write guidance and create engagement templates. Checkpoint Engage PCR, which is a web-based solution, is designed to […]
Taxes in retirement; problems with plateauing; savings ahead for filers; and other highlights from our favorite tax bloggers. Mind the gap Procedurally Taxing (https://procedurallytaxing.com): Chico v. Commissioner points out the benefits to the “good” spouse when the other spouse files a fraudulent return. Tax Vox (https://www.taxpolicycenter.org/taxvox): “The Tax Cuts and Jobs Act cut federal tax […]
The Internal Revenue Service could make better use of its data to ferret out abusive tax schemes involving charities and other tax-exempt groups, including syndicated conservation easements, according to a new report. The report, from the Government Accountability Office, found the IRS doesn’t consistently analyze data from its existing databases to help identify these kinds […]
WithumSmith+Brown is commemorating the passing of one of the CPA firm’s founders, Fred Withum, who died Sept. 30, 2019 — a day before his 85th birthday. Withum and his partners founded the firm in 1974 with six employees in a small office in Milltown, New Jersey. The firm is now headquartered in Princeton and has […]
Payroll processors are anticipating closer scrutiny after a high-profile scandal involving MyPayrollHR, a Clifton Park, New York-based company that suddenly collapsed last month after its CEO reportedly absconded with $35 million in payroll and tax withholding deposits for its customers, prompting paycheck deposits to briefly disappear from the bank accounts of employees who work at […]
Fyle, which makes an artificial intelligence-enabled expense management platform, has updated its software and also launched an integration with the messaging app WhatsApp. Other software enhancements include an API integration for banks and card issuers, as well as ACH payment integration. Fyle already integrates with Google G Suite and Microsoft Office 365. Fyle also announced […]
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