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Meeting the Staffing Demands: How Automation is Transforming Accounting Firms

CPA Practice

It provides essential services due to the complexity of tax laws and the importance of offering valuable tax-saving advice to clients; and that’s just the tax half of the industry. However, today, it struggles to replace those who leave the profession.

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Legal Tax Expert Discusses AI in IRS Auditing and the Future of the ERC

ThomsonReuters

“I think that’s where I’m more worried about it,” James Creech, a senior manager with Baker Tilly’s tax advocacy and controversy team, began. ” However, there is some uneasiness about the use of AI in IRS audits by not realizing the full picture of a tax return. 6651 and Code Sec.

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Understanding the Inflation Reduction Act of 2022

ThomsonReuters

These appropriations are to remain available through the end of 2031. According to the CRS, the number of unprocessed tax returns at the end of the 2022 filing season rose from 7.4 Clearly, the question from clients is, “Will I be audited?” Taxpayer Services. million in 2019 to 35.8 million in 2021 and 13.3

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Life Insurance and Business Valuation After the Connelly Decision

Withum

It is important to note that the best practice would be to get a qualified appraisal and attach to the estate tax return to meet “adequate disclosure” and significantly reduce audit risk. The first defense against an estate tax audit is a qualified appraisal. million, the price paid by the company.

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