CPA Never under estimate the value
The IRS opened its annual Dirty Dozen list with scams that trick recipients into clicking a suspicious link, filling out personal and financial information, or downloading malware onto their computer.
Source: JOA News
Read More here – Dirty Dozen list from IRS opens with phishing, smishing scams
More than 70% of finance executives have worries related to privacy, ethics, and accuracy, but some respondents in an AICPA & CIMA survey say they’re moving ahead with implementation of generative AI tools.
Source: JOA News
Read More here – Organizations moving forward with generative AI despite concerns, survey shows
The appropriations act enacted over the weekend that kept the federal government from shutting down included $12.3 billion for the IRS, but also codified an agreed-upon $20 billion cut in money allocated by the Inflation Reduction Act.
Source: JOA News
Read More here – Latest federal budget includes billion rescission for IRS
Four in five M&A professionals see deal volume increasing over the next six months, which should come as no surprise to accounting firms considering a recent flurry of activity.
Source: JOA News
Read More here – A firm grasp on reality: M&A activity expected to rise
On the deadline for businesses to offer to repay erroneous employee retention credit claims under the voluntary disclosure program (VDP), the IRS said assessments account for $572 million of the revenue, with the VDP and the claim withdrawal process accounting for the rest.
Source: JOA News
Read More here – Enforcement, voluntary programs yield over billion from ERC claims
The IRS would reduce the notice of third-party contact with respect to the determination or collection of the taxpayer’s tax liability to 10 days from 45 days in several circumstances involving statutory periods for assessments and collections that expire in one year or less.
Source: JOA News
Read More here – Taxpayer notice of third-party contact shortened under proposed regs.
If you’re a CFO struggling to retain talent, it may be time assess whether you’re keeping up with the competition in terms of offering a flexible work schedule and adequate compensation.
Source: JOA News
Read More here – How financial services companies are responding to employee demands
Allowing taxpayers to communicate with the IRS almost entirely online will free the agency’s workers to handle other tasks, Commissioner Danny Werfel said in a speech Monday.
Source: JOA News
Read More here – Werfel says digital initiatives can transform ‘iconically unpopular’ IRS
The March installment of the monthly newscast series covered topics ranging from year 2 lease accounting issues and commercial real estate risks to SAS No. 145 updates for auditors and fraud risks during audits.
Source: JOA News
Read More here – A&A Focus recap: Lease challenges, SAS 145, and fraud
The top 10 firm is the largest to strike a deal with private equity but isn’t the first. Four other noteworthy deals have been struck in the past two years.
Source: JOA News
Read More here – Grant Thornton deal continues the private-equity investment trend
