GrowthForceBlog

MARCH 22, 2024

7 min read Most business leaders are familiar with their year-end financial closing process because it's closely associated with tax reporting. Key Takeaways What Is a Month-End Close: A month-end close is a set of bookkeeping and accounting tasks that are performed at the end of each month in a business to close out the month-long accounting period… Prepare Your Financial Statements: Your business's basic financial statements are the primary deliverables generated during the month-end close.

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Accounting Today

MARCH 22, 2024

KPMG Digital Gateway adds gen AI capacities; Chime now offers in-app tax filing; Financial Cents new ReCats tackles uncategorized client transactions; and other accounting tech news

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CPA Practice

MARCH 22, 2024

The IRS said on Friday that it will likely end its moratorium on processing new employee retention credit (ERC) claims later this spring. In a news release, the IRS said: A specific [ERC processing] resumption date hasn’t been determined but, at this point, the IRS anticipates it will be sometime in the late spring. This pause will help the IRS review the ERC inventory with strong, new measures of scrutiny in place.

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audit Tax 119

Cherry Bekaert

MARCH 22, 2024

Succeeding in today’s business environment requires agility and rapidly adapting to change. For finance leadership and teams, this requires constantly analyzing, reforecasting, rethinking new data, and determining new approaches to drive business. No matter your industry, organizations must automate and streamline core financial management functions.

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Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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CPA Practice

MARCH 22, 2024

The Internal Revenue Service has issued Notice 2024-30 that expands certain rules for determining what an energy community is for the production and investment tax credits. The IRS also released Appendix 1 PDF, identifying additional Metropolitan Statistical Areas (MSAs) and non-MSAs that meet the Fossil Fuel Employment threshold, and Appendix 2 PDF, identifying additional MSAs and non-MSAs that qualify as energy communities in 2023 by meeting the Fossil Fuel Employment threshold and the unemplo

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Tax 115

Accounting Today

MARCH 22, 2024

The Internal Revenue Service has been making progress on catching up with its backlog of unprocessed tax returns, but more work needs to be done, according to a new report.

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tax return Tax 112

Accounting Today

MARCH 22, 2024

The Internal Revenue Service's efforts to halt fraudulent claims for the Employee Retention Credit have protected more than $1 billion since the IRS instituted a processing moratorium.

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Tax 109

DMCL

MARCH 22, 2024

Congratulations to Senior Manager, Christina Chi , for being chosen as a 2024 Moore North America Emerging Leader Award winner! Christina is one of five recipients of this year’s award, selected from across the Moore North America network of firms. The award acknowledges her contributions to Moore, DMCL, the local community, and the accounting profession as a whole.

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CPA Practice

MARCH 22, 2024

By Aidan Quigley, CQ-Roll Call (via TNS). House appropriators breathed a sigh of relief Friday as the House narrowly passed the massive $1.2 trillion wrapup spending package under suspension of the rules, which requires a two-thirds majority. The chamber passed the 1,012-page bill by a vote of 286-134, with 101 Republicans and all but 22 Democrats backing the bill.

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Accounting Today

MARCH 22, 2024

Dan Rotta, 77, was charged in Miami with hiding assets from the IRS in two dozen secret Swiss accounts between 1985 and 2020.

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Randal DeHart

MARCH 22, 2024

As a construction company owner, you're the architect of your business's vision and culture. But some of the foundation often needs to catch up in the hustle to improve services, chase sales, and keep the lights on. Core values—those guiding principles that shape your company's identity—are more than words on a wall or a statement in a handbook. Getting leads and doing the work is only part of the answer.

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Accounting Today

MARCH 22, 2024

PBMares establishes new risk advisory consulting practice; Weaver adds a tax partner; and more news from across the profession.

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Texas Tax 109

Going Concern

MARCH 22, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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Accounting Today

MARCH 22, 2024

An unlikely pair of lawmakers is teaming up to propose legislation to eliminate tax breaks for corporate M&A activity.

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Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

Going Concern

MARCH 22, 2024

With Janet Truncale heading out of EY’s Financial Services Organization (FSO) and into the big seat as EY Global Chair and CEO when Carmine Di Sibio steps down on July 1 , someone’s got to fill her shoes. And the winner is…Americas FSO Tax Managing Partner Shawn Smith. A quick stalk of his LinkedIn tells us Smith has been at EY since he graduated from Clemson in 1991 and has been climbing ladders ever since.

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Accounting Today

MARCH 22, 2024

As accounting leaders use technology to increase efficiency and reduce workloads, they're finding further benefits in the form of improved accuracy and quality.

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SkagitCountyTaxServices

MARCH 22, 2024

Well, since we’re in full deja vu mode right now with the presidential election bid and this year’s Super Bowl outcome… let’s talk about the Employee Retention Credit… again. Because this week is the deadline for withdrawing ineligible claims — March 22. That’s FRIDAY. If you claimed and received the ERC, but were ineligible and need to repay it, you can go to the Voluntary Disclosure Program page and see if you can do that… and how to do it.

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Accounting Today

MARCH 22, 2024

A new Hinge study details the marketing tactics of high-growth accounting firms.

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Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology

CPA Practice

MARCH 22, 2024

The IRS is investigating the recently fired interpreter for Los Angeles Dodgers star Shohei Ohtani after he was implicated in a scandal involving illegal sports gambling and significant financial theft from his longtime friend. The Associated Press reported on March 21 that interpreter Ippei Mizuhara and his alleged bookmaker Mathew Bowyer are under criminal investigation through the IRS’s Los Angeles Field Office.

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Withum

MARCH 22, 2024

Most people are aware that we are in tax filing season with individual returns due April 15th (or April 17th for those living in Maine and Massachusetts). Extensions are permitted that will postpone the due date, but the payments cannot be extended and balances due and the first quarter estimated taxes, if required, must be paid by the original due date of April 15 th or 17 th.

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CPA Practice

MARCH 22, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, discuss and review FedNow , a new instant payment infrastructure developed by the Federal Reserve that allows eligible depository institutions of different sizes across the U.S. to provide instant payment services. Use the video player below to watch, or the podcast player below to listen to the podcast. == Or use this podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.

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Patriot Software

MARCH 22, 2024

Florida’s beautiful beaches, booming economy, and status as a tax-friendly state make it an attractive spot for entrepreneurs. The Sunshine State even claimed the title of the third-best state to start a business in 2024. Of the 3.5 million business entities in Florida, almost 2.5 million are limited liability companies (LLCs).

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Advertiser: Paycor

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

CPA Practice

MARCH 22, 2024

By Brian Gordon, Raleigh News & Observer (TNS) With offices overlooking right field of Durham Bulls Athletic Park, the tax compliance software provider Avalara intends to add 100 workers to its downtown location in Durham, NC, by the end of the year. “Tax compliance is a high growth industry,” Avalara’s chief revenue officer, Kimberly Deobald, said in an interview Wednesday.

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Canopy Accounting

MARCH 22, 2024

In accounting, efficiency isn't just a goal — it's a necessity. Thankfully, accounting templates offer a bridge to this efficiency, providing a foundation for standardization, consistency, and clarity that empowers firms to deliver superior service while saving hours of time and managing resources effectively.

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Account accountant accounted 52

Nancy McClelland, LLC

MARCH 22, 2024

The IRS is offering an amazing deal to those who either fraudulently or mistakenly claimed Employee Retention Credits (ERC) to which they weren’t entitled. If a taxpayer claimed and received ERC funds, and for whatever reason now realizes that they may not actually have qualified (either for a particular period or for the whole thing) — they can return 80% of the money to the IRS and call it a day.

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CPA Practice

MARCH 22, 2024

Wolters Kluwer has launched its CCH Tagetik Global Minimum Tax expert solution in North America. The solution will support multinational companies headquartered in North America to collect, align, calculate and report integrated financial and tax data in accordance with Organisation for Economic Co-operation and Development (OECD) Pillar Two tax requirements.

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Finance

Menzies

MARCH 22, 2024

Menzies LLP - A leading chartered accountancy firm. This new law which is expected to come into force in September 2024 gives workers the right to request more predictable hours, not a right to have them changed. Details will be contained in separate regulations, and ACAS has published a draft Code of Practice which will be finalised following a consultation period.

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Anders CPA

MARCH 22, 2024

Welcome to the 1st episode of the CannaBiz Success Show! In this inaugural episode, Guillermo welcomes Pat Helmers , an advocate for the cannabis industry and founder of Habanero Media. Pat discusses the power of podcasting for cannabis businesses and the benefits of interview-based podcasting. The conversation also covers current challenges and opportunities within the cannabis industry.

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Non-Profits Texas CPA Retail 52

Menzies

MARCH 22, 2024

Menzies LLP - A leading chartered accountancy firm. Changes from 1 January 2024 Any worker may carry over: Up to 8 days of leave into the next year with agreement with the employer. Additional allowances are dependent on the employer’s terms. Up to 28 days of leave into the next year for untaken statutory leave which is due to maternity or other family-related leave.

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Accounting Today

MARCH 22, 2024

Notice 2024-30 expands rules for determining an "energy community," among other things.

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Tax 70

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