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The new breed of audit

TaxConnex

In years past, auditors could show up at your door asking to look at your records. Audits remain an important tool for tax jurisdictions to evaluate the level, or lack thereof, of sales tax compliance within a business. Now that’s much less common. Fear and loathing. In TaxConnex’s recent? market survey ,?

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IRS Information Letters Address Substantiation Rules for Health FSA Debit Card Programs

ThomsonReuters

IRS Information Letters 2021-0003 (Dec. 14, 2020) and 2021-0013 (Apr. Letter 2021-0003. Letter 2021-0013. The review of additional information can be avoided if an independent third party provides information at the time and point of sale to verify that the charge is for a medical expense (real-time substantiation).

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Latest product news — December 2022

Xero

Here are the latest features we’ve introduced to new reports: We’re introducing a current financial year by month report as well as a Bank Reconciliation report pack. The old template will still be available if you need to catch up on your 2021 filing. We’ve released a new 2022 Schedule C report template for advisors in the US.

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A (not so) mini budget…?

Inform Accounting

The Government has set an ambitious target to achieve a trend rate of growth of 2.5%, achieved by tax incentives to encourage investment in the UK. The Government has set an ambitious target to achieve a trend rate of growth of 2.5%, achieved by tax incentives to encourage investment in the UK. Cost of Energy.

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Guide to tax forms for environmental tax breaks?

ThomsonReuters

Jump to: What environmental tax breaks are available? Helping your clients with claiming environmental tax credits As sustainability initiatives gain momentum, the IRS continues to encourage environmentally conscious actions through a range of tax incentives. What environmental tax breaks are available? 

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The rise of ESG accounting and what it means for auditors

ThomsonReuters

In recent years, however, the momentum within the U.S. Given the increased focused on ESG, this blog marks the first in a series dedicated to ESG and its impacts on the accounting profession. Then there’s the tax implications. More specifically, ESG-related tax incentives. has gained speed.

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Now the Profession Is Losing Experienced Accountants Too

Going Concern

Mark Maurer at Wall Street Journal wrote today about a young man named Omer Khokhar who realized after six years in accounting that he was done. Khokhar earlier this year joined JPMorgan Chase as a treasury sales associate in its commercial real-estate banking division. Here we are again talking about the accountant shortage.

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