Thu.May 08, 2025

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AI-Powered iXBRL Tagging: The Future of Financial Reporting is Smarter, Faster — and Less Risky

Accounting Insight

iXBRL which promotes transparency and standardisation in financial disclosures, has become vital than ever with HMRC being one of the early adopters. While essential for compliance, traditional tagging methods are often time-consuming and cumbersome. While iXBRL service providers have serviced their clients in quick turnarounds even less than 24 hours in many cases, Accounting Firms, CFOs and Finance pros are always pressed for time especially during the filing season.

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SaaS taxability: A comprehensive guide

TaxConnex

How do states look at SaaS (software as a service)-oriented businesses and sales tax requirements? The short answer is, Many ways. The longer answer is, Many, many, many ways. The complexity of sales taxes and SaaS is a confluence of factors, including almost a decade of upheaval in states tax statutes and the advent and lightning development of whats become everyday technology (and how the technology is delivered).

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Trending Sources

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Gusto Picks Melio to Launch Bill Pay and Invoicing Solution

CPA Practice

Melio and Gusto are partnering to make it easier for small and midsized businesses to pay employees, contractors, vendors, and get paid via invoices from one platform.

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What Is an Owner’s Draw in Accounting?

Patriot Software

As a business owner, you likely pay wages to employees. But when it comes to paying yourself, what do you do? Depending on your type of business structure, you might be able to pay yourself an owners draw. What is an owners draw?

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Pay transparency leads to more engaged employees

Accounting Today

The taboo around discussing and comparing accounting salaries is slowly fading.

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Pour One Out For the IRS Employees on Mandatory Overtime the Next Two Weekends

Going Concern

According to Federal News Network based on an internal memo they’ve seen, human error-checkers at the processing center in Kansas City are going to have a rough two weeks ahead: This years tax filing season is over, but the IRS is setting mandatory weekend overtime hours for some employees to process tax returns flagged with possible errors. IRS Input Correction Operation (ICO) employees at the submission processing center in Kansas City, who are trained to resolve several types of common

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The impact of early AI adoption

ThomsonReuters

Jump to The bottom line Advanced AI Embrace AI New technology Embracing cutting-edge technologies like artificial intelligence has always helped tax professionals boost efficiency and gain a strategic advantage. In todays competitive landscape, taking action is what counts. For tax professionals, adopting technology early isnt just talk its a strategic move that leads to superior tax research and service delivery.

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Tax Fraud Blotter: Patently false

Accounting Today

An unclean sweep; quite an education; Ferrari fever; and other highlights of recent tax cases.

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Your Making Tax Digital for Income Tax checklist

Accounting Insight

Get your accounting practice Making Tax Digital for Income Tax ready with our comprehensive checklist. We walk you through whats required from HMRC, and the steps you need to follow to get ready for the change. The sooner you prepare for MTD, the less stress youll have when it comes to the April 2026 deadline. The MTD checklist includes: What MTD for Income Tax is and what it means for accountants.

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IESBA offers Q&A on tax planning ethics standards

Accounting Today

The International Ethics Standards Board for Accountants staff posted guidance to support adoption of its Tax Planning and Related Services Standards.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Extend Launches Open-source AI Toolkit for Smarter Finance Workflows

CPA Practice

These integrations allow Extends users to query their financial data using natural language, perform advanced analytics and generate custom reports, and automate workflows.

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Why M&A Is Reshaping the Future of Accounting — and What Firms Must Do About It

Accounting Insight

Accounting might not be known for drama but right now, its having a bit of a plot twist. The M&A wave isnt just rolling in; its redrawing the landscape. It is no longer about firms getting bigger, but about how they are being reimagined. M&A has shifted from a growth tactic to something much more fundamental: a strategic response to a profession in flux.

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Choosing Outsourced Accounting Services: What Every Business Owner Should Know

AccountingDepartment

Opting for outsourced client accounting services can significantly conserve time and resources for your business. Nevertheless, locating a reliable outsourcing partner can be difficult. But how can you be sure youre choosing an outsourced accounting service you can trust? A few characteristics of trustworthy, competent, and reliable accounting services will help you know the provider you chose is the right one.

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Firms aim to upgrade PM systems, tech infrastructure

Accounting Today

Tech-forward CPA firms reported a variety of areas in need of a tech upgrade, especially practice management systems and tech infrastructure.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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Strategies to Reduce Employee Theft

FraudFiles

It might be hard to believe, but each and every day companies are losing money because they not only give employees opportunities to steal, they encourage it. How? By not providing adequate oversight. A clerk, for example, sees that an error in an account wasnt caught by anyone. A purchasing manager notices that no one [.

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Xero and Karbon Partner to Streamline Firm Workflow

CPA Practice

Xero has announced integration with Karbon to deliver a solution designed to help accounting professionals save time, simplify workflows and boost productivity.

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7-Figure Firm, 4-Hour Workweek: Leadership Strategies to Scale Without Burnout

Canopy Accounting

Learn how Dr. Jackie Meyer, CPA, scaled her firm to 7 figures while working just four hours a week. In this 50-minute webinar, you'll learn practical leadership strategies, proven frameworks, and real-world tips to grow profits and protect your peace.

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How to Intuit Enterprise Suite: Project Task Templates

Insightful Accountant

Intuit Enterprise Suite has incorporated new 'template' technology for projects and tasks. This 'How to ERP' expands on our previous project feature for IES.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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South Carolina Treasurer’s Office Under Investigation by State’s Inspector General

CPA Practice

The investigation follows a House decision not to take up aSenateresolution to remove Curtis Loftis as state treasurer this year over a $1.8 billion accounting error.

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Guide: Project Rescue Playbook

Withum

How to Identify Early Warning Signs and Take Action Quickly Download Guide Projects often show early signs of risk, long before failure is obvious. Deadlines slip, teams lose focus and budgets expand, sometimes before anyone realizes the project is at risk. The good news? Most at-risk projects can still be recovered with the right course correction.

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Ignition Launches AutoCollect to Help SMBs ‘Wipe Out’ Late Payments

CPA Practice

With AutoCollect, customers can automatically import and get paid for invoices created in their accounting software, including QuickBooks Online and Xero, directly within Ignition.

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Top Remote Tax and Accounting Candidates of the Week | May 8, 2025

Going Concern

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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State CPA Society News & Updates – May 2025

CPA Practice

State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories.

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Be Careful What You Ask for – Inexpensive QSBS Advice Is Not Always Helpful

Withum

We are seeing an increasing number of entrants in the market offering advice regarding qualified small business stock (QSBS). The advice can be informal, but often it comes in the form of opinions, memos, or attestations. Some providers offer their services for unusually low fees, and some suggest the need for annual updates. Sometimes the providers offer quality advice for low fees, and other times they offer boilerplate advice with little value.

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Republicans discuss raising SALT cap to $30K

Accounting Today

The state and local tax issue has been one of the most contentious for the House GOP to resolve.

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What Does It Mean When Something Is Paid in Arrears?

Patriot Software

You might extend credit to customers so they dont pay right when they receive a good or service. When you invoice a customer, you include payment policy terms that detail when the money is due. You might bill in arrears, or the customer may pay in arrears.

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How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.

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House Democrats propose expanded QBI deduction for small biz

Accounting Today

Rep. Gwen Moore introduced legislation to expand the Section 199A Qualified Business Income deduction to provide more money to the smallest businesses.

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Aiwyn Acquires Taxa, Launches Aiwyn Tax

CPA Practice

The addition of its new tax solution allows Charlotte, NC-based Aiwyn to deliver core tax capabilities within the Aiwyn ecosystem, including automated preparation, AI-enabled review, and real-time collaboration.

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From Apple to GM, tariffs to cost companies tens of billions

Accounting Today

Among companies that have disclosed financial projections, GM sees a $5 billion hit this year, while Apple expects $900 million in higher costs this quarter.

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Louisiana Unemployment Benefits Could Have Stricter Rules

CPA Practice

Louisiana could require residents who get unemployment insurance to do more to find new jobs if a bill advancing in the legislature becomes law.

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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.