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By now almost all of us have had this happen—a client calls to say they’ve received a 5747c letter from the IRS. They are being told to appear in person at a main IRS office (not necessarily one of the smaller community offices) along with two years of “everything they have” to verify their identity. […]
The Internal Revenue Service and its tax industry partners warned tax professionals Tuesday that takeovers of tax professionals’ accounts by cybercriminals are on the rise. The warning is part of a new public awareness campaign by the IRS, state tax authorities and tax industry leaders called “Don’t Take the Bait,” warning tax professionals about email […]
Accountants looking for another reason to justify technology investments in their firms should consider this: The firm’s next business clients are likely to require accounting services that are all or mostly digital. Moreover, younger business owners, in particular, expect accounting services that are in the cloud and accessible on mobile devices. Those are among the […]
(Bloomberg) Senate Majority Leader Mitch McConnell’s new proposal to simply repeal Obamacare appears to be dead less than 24 hours after he dropped his replacement plan for lack of support among fellow Republicans. GOP Senators Susan Collins, Shelley Moore Capito and Lisa Murkowski said Tuesday they’ll oppose a repeal of the Affordable Care Act. McConnell […]
Deloitte has introduced a new tool that helps companies analyze how they might fare under various tax reform alternatives under consideration in Washington. Deloitte’s Tax Reform Navigator uses actual and projected financial data to demonstrate how potential tax reform proposals may affect a company. The web-based tool compares company data side by side and measures […]
Federal tax rules and regs are always subject to change, so tax lawyer and CPA David De Jong keeps a comprehensive, running list of the top developments over the previous 12 months, including legislative developments, court cases, and IRS pronouncements. De Jong, a partner in the Rockville, Md., firm Stein Sperling Bennett De Jong Driscoll […]
The Association for Accounting Marketing has launched a new blog highlighting strategies to help CPA firms grow. The new CPA Growth Trends blog contains advice from accounting marketers on topics such as marketing, communications, public relations, business development, technology, sales and practice management. “This blog isn’t about keeping up with trends—it’s about setting them,” said […]
The rap singer DMX was arrested and charged with tax fraud for allegedly evading $1.7 million in taxes. The U.S. Attorney’s Office for the Southern District of New York, along with the Internal Revenue Service’s Criminal Investigation unit, accused the 46-year-old performer Thursday of engaging in a scheme to conceal millions of dollars in income […]
QuickBooks Online releases June updates This month, QBO announced that the dashboard will no longer include unaccepted transactions from bank feeds. The PL widget will now align with numbers on the dashboard PL in order to provide greater visibility on financials. Users will also be able to filter dashboard insights by date to allow for […]
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