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We live in an age of enormous technological advancement, yet most finance organizations continue to operate with significant manual intensity. Take a leading payments company as a case study. While this company’s customers’ payments quickly flow in the digital domain, every month a large, globally-distributed team of finance professionals use an array of spreadsheets, process […]
Lukka, which makes a tax preparation platform for cryptocurrency, has debuted Lukka Library, an interactive collection of academic papers dealing with controversial legal and tax questions that lack official guidance or regulatory frameworks. The papers are mostly short form, and each addresses a specific issue and is meant to provide viewers with cutting-edge perspectives on […]
COVID-19 is affecting us all, whether that’s through staying home or the unknown financial impacts that are snowballing. Couple that with tax season and your stress is likely running high. Not only are you fielding calls from clients looking for help and support with the decisions they need to make, your staff is looking to […]
The National Association of State Boards of Accountancy, the American Institute of CPAs and testing administrator Prometric announced on Thursday an emergency CPA Exam testing period in response to the ongoing COVID-19 outbreak. “We understand candidates are concerned about their testing options and, therefore, we are implementing this emergency testing period to provide additional testing […]
AccountingSuite, which makes accounting software with built-in inventory management features, has integrated its software with Tax1099, an IRS-approved, cloud-based e-filing system for the 1099 MISC form and 40 other forms. The integration is aimed at improving the e-file experience for businesses with contractors. The integration allows users of both systems to pull data from an […]
This is the new reality: We are all remote now. It’s hard to see an end date, but it’s even harder to imagine what will happen when all 50 states get the all-clear from our leaders. Will everything go back to normal, just like that? The coronavirus pandemic has already had a domino effect, shutting […]
Advancements in technology have significantly reduced the risk of tax preparation errors, but not all of them. While some of the items below seem obvious, even the most seasoned CPAs and tax professionals have been known to commit these tax preparation no-nos. Whether you are a 20-year accounting veteran or just entering the field, it […]
The Internal Revenue Service is taking a “sweeping series of steps” to assist taxpayers on issues ranging from payment guidelines to compliance actions during the coronavirus outbreak. The changes — part of a new “People First Initiative” — include postponing certain payments related to installment agreements and offers in compromise, and limiting certain enforcement. The […]
CFOs can play a crucial role in guiding employees, particularly those in the finance and accounting functions, during the turmoil of the coronavirus pandemic, which is roiling the stock market and leading to mass layoffs. Doreen Remmen, CFO of the Institute of Management Accountants, sees her fellow CFOs trying to contend with the crisis. “So […]
The pandemic has officially pushed filing day for the federal government and a growing list of states into the summer. As it’s done to many other aspects of society, the outbreak has also upended the definition of “reprieve” for preparers. Is it a real breather? And what are clients saying? “Breather? Ha!” said John Dundon, […]
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