CPA Practice

NOVEMBER 11, 2024

The Future Of Individual Tax Prep Is Brighter Than Ever While AI has been everywhere in the last few years, practical AI built into traditional platforms is being augmented by platforms to help with productivity. Sifting through what is in the market and coming to market, it is clear that tax preparation will be more profitable than ever.

accounting firms 111

accounting firms Technology accounted Account 111

CPA Practice

JANUARY 26, 2024

23, 2024, to two years in prison for a scheme to file false tax returns, and to two years in prison for an unrelated online romance scam. According to court documents and statements made in court related to the tax scheme, Iona Coates owned and operated Bits & Bytes Accounting Services Inc.,

Florida 109

Florida tax preparation Tax tax return 109

CPA Practice

APRIL 18, 2023

By David Wichner, The Arizona Daily Star, Tucson (TNS) A tax preparer in Tucson, AZ, already awaiting trial on drug-smuggling charges has been indicted by a federal grand jury, accused of filing fraudulent tax returns to reap inflated fees. In September, Nour was arrested entering the U.S.

Arizona 98

Arizona tax preparation Tax tax return 98

Snyder

OCTOBER 30, 2022

How much do small businesses pay in taxes? How to file income tax? How to file self-employment tax? How to file employment tax? How to file excise tax? How to file estimated tax? Tax preparation tips: How to prepare in 5 steps. When are 2022 taxes due? General Tax Calendar.

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ThomsonReuters

DECEMBER 6, 2023

James Creech, a senior manager with Baker Tilly’s tax advocacy and controversy team, explained that the origin of the current issues with the ERC can be traced back to before the health emergency and the absence of tax preparer oversight. “Tax preparation is kind of the Wild West,” Creech began.

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Going Concern

SEPTEMBER 25, 2023

In the indictment that was unsealed on Tuesday, prosecutors allege that Mitchell and Shreiteh allegedly recruited independent business owners, self-employed workers, and other businesses to provide them with personal information, bank statements, and other documents which they then submitted for PPP loans, prosecutors said.

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ThomsonReuters

MARCH 3, 2025

Agentic AI presents an opportunity to significantly elevate the role of accountants from once-a-year tax preparers to year-round tax consultants. Conduct large-scale document analysis, allowing users to process and assess high volumes of information.

Tax 93

Tax accounted Account accountant 93

ThomsonReuters

NOVEMBER 26, 2024

If there is one thing accountants and tax preparers know for sure, it’s that an efficient tax workflow is key to remaining competitive in an increasingly digital tax and accounting landscape. To achieve this, many forward-looking accountants and tax preparers are shifting toward a fully digital tax workflow.

Technology 52

Technology accounting firms Tax tax preparation 52

MyIRSRelief

DECEMBER 15, 2022

Here are some steps you can take to tackle the task: Take an inventory: First, make a list of all the records you have, including bank/credit card statements, invoices, receipts, and other documents. What is income tax preparation service? What is business tax preparation service?

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tax accountant Tax tax preparation accounted 130

CTP

JANUARY 17, 2025

This refundable tax credit was designed to help businesses whose employees were impacted by the COVID-19 pandemic, but within just a few years, the government had detected over $2.8 Taxpayers and tax preparers alike will want to check the news to keep tabs on the credits and deductions the IRS is currently scrutinizing.

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audit Tax auditor tax return 96

ThomsonReuters

FEBRUARY 13, 2024

1040 preparation, financial advisement, bookkeeping). penalty for late document submission). hourly, per service), document the precise charge for each service and display the total amount due in an emphasized font. Develop consistent file-naming conventions for invoices and other supporting documents. Billing totals.

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tax preparation Tax tax return cpa firm 52

ThomsonReuters

NOVEMBER 26, 2024

However, AI-powered tools can automate data entry by extracting information from documents like invoices, receipts, and financial statements. This minimizes manual effort, reduces errors, and accelerates tax preparation. If your firm hasn’t yet adopted an AI-powered tax research solution, you’re in luck.

Technology 52

Technology tax preparation accounting firms Tax 52

ThomsonReuters

OCTOBER 6, 2023

Tax season is hard enough: you don’t need to make it harder on your team and clients with outdated technology and a stagnant process. Modernizing document collection Requesting and gathering the necessary client documents and data is the first phase of the tax prep process and often the most challenging.

tax preparation 64

tax preparation Tax tax return Technology 64

Going Concern

NOVEMBER 8, 2024

PwC accused of interfering in Australian tax leaks probe [ Financial Times ] PwC has been accused of interfering in Australia’s political and regulatory affairs after documents revealed the Big Four accounting group warned its local firm against co-operating with investigations into a damaging tax leaks scandal without permission.

Florida 98

Florida Mississippi audit auditor 98

ThomsonReuters

JANUARY 23, 2025

However, the integration of AI-powered tax technology can change all that, offering immediate and transformational benefits that can positively impact your firm this tax season and all year round. Lets take a look at how AI can significantly reduce stress for accountants during tax season. Automate repetitive tasks.

Tax 52

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MyIRSRelief

FEBRUARY 8, 2023

Tax Preparation, Tax Planning, and Tax Representation: Understanding the Importance of Professional Assistance Tax preparation, tax planning, and tax representation are all crucial components of managing your finances and ensuring that you meet your tax obligations.

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MyIRSRelief

MARCH 29, 2024

In the bustling city of Whittier, California, businesses face a myriad of tax-related challenges that can significantly impact their operations and financial health. From business tax preparation to dealing with unpaid back taxes and navigating complex audits, the tax landscape can be daunting.

California 130

California tax services business tax Tax 130

CPA Practice

MARCH 19, 2024

By Sean Emery, The Orange County Register (TNS) A former Orange County tax preparer convicted of carrying out a tax fraud in which prosecutors say he attempted to claim more than $10 million from the IRS and numerous state tax authorities was sentenced on March 18 to 10 years in federal prison.

tax preparation 69

tax preparation California Tax tax return 69

Accounting Insight

MAY 2, 2025

Theres hardly time to stay on top of each clients basic needs yet alone advising them on their tax affairs. This is now made possible through Intelligent Automation, giving accountants the ability to automate the personal tax return process; from collating documents, to submitting to HMRC. Time and cost savings.

Technology 59

Technology accounting firms Tax tax return 59

MyIRSRelief

OCTOBER 3, 2022

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service.

tax services 147

tax services California Tax tax preparation 147

CPA Practice

SEPTEMBER 19, 2024

This would make sure you are using the latest data available at the time to complete tax filings. Organize and Prepare Client Documentation Proper documentation is the step to a successful tax filing. Steps to Follow Pre-Tax Season Meetings: Present clients before the filing season commences.

Tax 132

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MyIRSRelief

JANUARY 8, 2021

These types of tax firms offer a wide range of products and services designed to help expats with all kinds of things dealing with their taxes. In this article we are going to talk about three specific services; Tax planning, Tax preparation, and Tax representation.

Tax 147

Tax tax preparation tax planning income tax 147

CPA Practice

SEPTEMBER 25, 2023

18 it warned five tax preparation companies that they could face thousands of dollars in fines for using clients’ confidential data for purposes other than tax preparation, such as advertising. The Federal Trade Commission (FTC) said on Sept.

tax preparation 105

tax preparation Tax Finance Technology 105

CPA Practice

JUNE 24, 2024

Tax Preparation Checklist: A comprehensive list of documents and information needed from clients for tax preparation, such as income statements, expense receipts, and previous tax returns. Invoice Template: For billing clients for services rendered.

accounting firms 124

accounting firms cpa firm accounted Account 124

CPA Practice

FEBRUARY 17, 2023

Tax season is always stressful. Hurried filers inundate tax preparers working furiously to help their clients file on time while the dreaded tax deadline looms. However, it’s important to pause and reflect on your data privacy standards, digital communication norms, and potential vulnerabilities this tax season.

tax preparation 122

tax preparation Tax cpas Legal 122

CPA Practice

OCTOBER 29, 2024

For example, you can use AI in your workflow to automate: Notifications Approvals Document management When it comes to communication, you can also leverage the power of AI to draft, edit and even reply to emails to keep your inbox under control. Streamline Tax Preparation One area where AI can really shine is in tax preparation.

accounting firms 111

accounting firms accounted Account accountant 111

ThomsonReuters

FEBRUARY 28, 2025

She explained that previously, a good documentation package (“R&D study”) would have prepared this information for an IRS exam. Now, it is required when the tax return is due. million and gross receipts equal to or less than $50 million, the increased documentation requirements will still pose challenges.

Tax 52

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Going Concern

JULY 21, 2023

Big 4 Senator calls for Deloitte to face fresh grilling over claims ex-partner David Milo shared military documents [ ABC News (Australia)] A federal senator says reports of a former Deloitte partner leaking confidential defense documents demonstrate the “threat” consulting firms pose to Australia.

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audit Tax Manufacturing Government 98

ThomsonReuters

DECEMBER 4, 2024

Filing business tax returns is no doubt an intricate process, but with the right workflow, accounting firms can streamline the process, reduce errors, and ensure compliance. Gather and organize client documents 2. Prepare and review the tax return 4. Jump to ↓ 1. Review deduction and credit opportunities 3. Partnership.

tax return 52

tax return business tax accounting firms Tax 52

CPA Practice

FEBRUARY 3, 2023

TNS) A Columbus, GA-based tax preparer has pleaded guilty in federal court to charges that she submitted false claims for tax credits for her clients and also failed to pay her own personal taxes. As tax season is currently underway, citizens should be reminded that committing tax fraud will lead to criminal prosecution.”

tax preparation 52

tax preparation Georgia Tax tax return 52

CPA Practice

APRIL 5, 2024

TNS) A Kennewick tax preparer cost the United States $42 million in lost tax revenue between 2017 and 2020 after filing tax returns that were riddled with errors, fabrications and fraudulent entries, alleges the Department of Justice. Taylor prepared 779 returns for S corporations between tax years 2017 and 2020.

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tax return Tax tax preparation income tax 103

xendoo

FEBRUARY 23, 2022

How Much Time Does it Take an Accountant to Prepare Taxes? The time it takes an accountant to do taxes depends on the complexity of your return and how quickly you make your tax information and necessary documents available to them. . It is better to plan ahead before the tax filing deadline.

tax preparation 94

tax preparation Tax tax return accounted 94

CPA Practice

APRIL 17, 2023

Categories for this year’s awards range from online tax, research and accounting systems, to remote engagement, practice management, document automation, workflow tools, apps for collaboration, mobile productivity and more. WINNER: TheTaxBook – Tax Materials Inc.

quickbooks 130

quickbooks payroll Technology audit 130

Randal DeHart

DECEMBER 16, 2022

Most construction business owners who reach out to us describe this as their "Year End Madness" to prepare their documents for the tax accountant. Bottomline - pay your taxes right, but it doesn't have to be more than what you owe. The year is almost over. Fourth-quarter and year-end deadlines are approaching.

Construction 97

Construction tax preparation quickbooks tax accountant 97

CPA Practice

DECEMBER 22, 2023

A Georgia man was sentenced on December 19 to two years in prison for evading his personal federal income taxes. According to court documents and statements made in court, from 1999 to 2021, Samir Patel, of Statesboro, was a tax return preparer at a national return preparation business.

Georgia 52

Georgia tax preparation Tax income tax 52

ThomsonReuters

NOVEMBER 8, 2022

With strong documentation, you can formulate a plan, gain approval, and implement/augment technology to streamline your accounting processes. . Here’s how to start: Document your processes. Identify all the steps in your tax workflow process, including all systems and software you and your staff use on a daily basis.

Technology 105

Technology accounted Account accountant 105

CTP

OCTOBER 17, 2022

Even if your business only has one administrator and one tax preparer, that is your team. Before a system was put in place, the business owner was involved in answering the phone, redirecting calls, and closing sales, even though their primary strength was tax preparation. The solution? Other controls can include….

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