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SurePrep, which makes tax automation software for the professional tax return preparation market, has received a “significant minority investment” from Bregal Sagemount, a growth-focused private capital firm. Financial terms of the investment were not disclosed. Tax automation software is becoming an increasingly attractive investment, with the current administration’s overhaul of tax law, as well as […]
It’s always exciting to start working with a new client. You’ve got a clean slate, high expectations and unlimited potential. But how do you establish yourself from day one as your new client’s most trusted advisor instead of just their tax preparer? It all starts with the client onboarding process. Before bringing in your next […]
Teased at this year’s QuickBooks Connect conference in San Jose, Intuit has now released new artificial intelligence-enabled tools for QuickBooks Online Advanced, Intuit’s offering for more complex and growing small and mid-sized businesses. “Intuit introduced QuickBooks Online Advanced last year to disrupt and transform the small business mid-market by providing innovative tools that solve the […]
Canopy Tax debuted a professional tax preparation product in June of this year. This week, the company abruptly shut down the product and told customers it would no longer support Tax Prep for the 2019 tax season. Canopy Tax is going through extensive changes. Over the past year, the Lehi, Utah-based company laid off approximately […]
The Internal Revenue Service and the Treasury Department issued final regulations Friday confirming that individuals who take advantage of the increased gift and estate tax exclusion amounts that are in effect from 2018 to 2025 under the Tax Cuts and Jobs Act won’t be adversely affected after 2025 when the exclusion amount is scheduled to […]
Payment app Veem now offers locked exchange rates, which means businesses can budget for a payment in a foreign currency knowing the exact exchange rate for up to 92 days in advance. When Veem came on the scene, it was easy to bill them as just another payments app. In reality, they have made achievements […]
Not to worry; oh, brother; Crown and out; and other highlights of recent tax cases. Inglewood, California: Preparer and ex-state Franchise Tax Board employee Cubby Wayne Williams, 64, of Alhambra, California, has been found guilty of federal criminal charges accusing him of defrauding the IRS out of millions by declaring bogus withholdings used to fraudulently […]
Most taxpayers envision Internal Revenue Service audits as intrusive investigations resulting in criminal sentences. Today, nothing could be farther than the truth. The IRS’s auditing power has been greatly diminished in the past decade. IRS audit resources have been reduced by 28 percent in the last decade and the audit rate has dropped from 0.9 […]
The Institute of Internal Auditors intends to overhaul its Certification in Risk Management Assurance and Internal Audit Practitioner programs next year to meet evolving demands and stay ahead of various risks. The IIA will be relaunching its CRMA exam next October to reflect the kind of in-depth organizational knowledge and advanced skills needed for risk […]
The International Federation of Accountants has named its first-ever board that has a majority of female members. Five of the eight board members approved this year at IFAC’s annual council meeting are women. As a result, 12 of IFAC’s 23-member board are now women. Six of the eight board members approved at last week’s meeting […]
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