RogerRossmeisl

JUNE 27, 2025

If you’ve recently received a settlement or award from a lawsuit, or you’re expecting one, you may be wondering how the IRS views this money. Will you need to pay taxes on it? The short answer: It depends on the type of damages you received. Understanding the basic rules can help you avoid surprises. Taxable vs. nontaxable awards Not all lawsuit settlements or awards are treated the same under federal tax law.

Legal 130

Legal Tax CPA 130

MyIRSRelief

JUNE 27, 2025

When overwhelming tax debt threatens your financial stability and future, an Offer in Compromise (OIC) may provide the lifeline you need to resolve your tax obligations and regain control of your finances. This powerful IRS program allows qualifying taxpayers to settle their tax debts for less than the full amount owed, but navigating the complex application process requires expert knowledge, strategic planning, and professional representation to achieve successful outcomes.

Tax 130

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Accounting Today

JUNE 27, 2025

The Pennsylvania Legislature passed a bill that establishes an additional path to CPA licensure, and it awaits Gov. Josh Shapiro's signature.

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ThomsonReuters

JUNE 27, 2025

Jump to ↓ What is a stablecoin? Key regulatory requirements under the GENIUS Act Tax implications for stablecoin holders and issuers What to watch: State vs. Federal oversight Action steps for tax and accounting professionals Preparing for the future of digital assets The digital asset landscape is evolving rapidly — and with it, the regulatory frameworks that govern how these assets are issued, used, and reported.

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CPA Practice

JUNE 27, 2025

Intuit said the new AI agents will automate workflows and, when combined with human experts, deliver real-time insights and improve cash flow for businesses.

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Withum

JUNE 27, 2025

For business owners, selling a company is more than a transaction – it’s often the culmination of years, if not decades, of dedication and hard work. Yet, many sellers enter the market unprepared for the level of financial scrutiny demanded by today’s sophisticated buyers. In the current M&A environment, especially among private equity and institutional investors, historical profitability alone is no longer sufficient.

Non-Profits 52

Non-Profits Tax 52

Accounting Today

JUNE 27, 2025

Author Login Subscribe ACCOUNTING Accounting Accounting standards International accounting ESG CAS Accounting Accounting standards International accounting ESG CAS TAX Tax Tax preparation IRS Tax Planning Corporate taxes Tax fraud Tax Legislation International taxes Tax Tax preparation IRS Tax Planning Corporate taxes Tax fraud Tax Legislation International taxes AUDIT Audit Audit standards PCAOB SEC Audit Audit standards PCAOB SEC PRACTICE MANAGEMENT Practice management Recruiting Retention Acc

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Going Concern

JUNE 27, 2025

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 Insight

JUNE 27, 2025

Mercia is proud to announce that we have won the ESG/Sustainability Initiative of the Year Award at the International Accounting Awards 2025, in recognition of our groundbreaking Sustainability Assurance Manual (International). This innovative solution offers audit practitioners a comprehensive, one-stop methodology to support their clients on the journey to sustainable reporting.

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Ryan Lazanis

JUNE 27, 2025

Most accounting firms think about percentages when they think of profit margins, but I’ll teach you how to increase your profits to the levels you want. The post How to Increase Your Accounting Firm’s Profit Margins appeared first on Future Firm.

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Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

Account

Accounting Insight

JUNE 27, 2025

Quadient findings show Government departments owed at least £290K but owe at least £1.7 million UK government departments have been waiting on payment for nearly two decades, despite strict regulations designed to ensure timely payments, new Freedom of Information (FOI) data obtained by Quadient (Euronext Paris: QDT), reveals. The oldest outstanding invoice traces back to March 2006, while the government itself is still to pay invoices from as far back as June 2007 – in both cases pre-dating 200

Government 40

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CPA Practice

JUNE 27, 2025

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Accounting Today

JUNE 27, 2025

AI-driven firms fail to mention that if their AI-generated tax advice results in an audit, their customers, not the firms themselves, are held legally liable.

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CPA Practice

JUNE 27, 2025

The top 100 accounting firm and the ERP platform announced a strategic partnership that will allow businesses to gain access to a co-sourced accounting model that blends technology and expert advisory services.

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accountant accounted Account accounting firms 85

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

accounting and finance

Accounting Insight

JUNE 27, 2025

TaxAssist Accountants has recently launched a new resourcing solution to help its network of over 400 practices manage recruitment challenges and scale their businesses efficiently. Resourcing by TaxAssist has been specifically designed for TaxAssist practices and integrates fully into their operations, systems and best practices. It provides franchisees with access to experienced accountants and bookkeepers who will work as a seamless extension of the local team.

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Withum

JUNE 27, 2025

Managing a real estate portfolio can be both rewarding and complex, with numerous financial and operational tasks demanding your attention. As you pursue your passion and grow your portfolio, you will realize there is still so much to do. There are vendors to be paid, tenants to be invoices, lease renewals to track, CAM charges to calculate, employees to be hired and payroll taxes to be remitted timely.

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Accounting Today

JUNE 27, 2025

Author Login Subscribe ACCOUNTING Accounting Accounting standards International accounting ESG CAS Accounting Accounting standards International accounting ESG CAS TAX Tax Tax preparation IRS Tax Planning Corporate taxes Tax fraud Tax Legislation International taxes Tax Tax preparation IRS Tax Planning Corporate taxes Tax fraud Tax Legislation International taxes AUDIT Audit Audit standards PCAOB SEC Audit Audit standards PCAOB SEC PRACTICE MANAGEMENT Practice management Recruiting Retention Acc

Technology 59

Technology Pennsylvania tax preparation Illinois 59

Randal DeHart

JUNE 27, 2025

As a construction bookkeeper, I've had a unique vantage point, watching countless projects unfold from the first bid to the final payment. While the hammers and blueprints are the visible signs of progress, it's the numbers behind the scenes that truly tell the story of a company's health. And let me tell you, those numbers often whisper warnings before they start screaming.

Construction 77

Construction bookkeeping financial statements Finance 77

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

Tax

CPA Practice

JUNE 27, 2025

The accounting platform built for landlords and real estate investors has launched Ledgy, an AI tax assistant designed to simplify and support the bookkeeping and tax experience for rental property owners.

Real Estate 59

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Going Concern

JUNE 27, 2025

That’s according to this article in FT anyway : Accountancy firms courting private equity were falling prey to “Fomo”, MHA chief executive Rakesh Shaunak told the Financial Times. “Everybody wants to be part of that feeding frenzy . . . I think IPO is the right option.” Shaunak said public accounting firms had more strategic freedom than those owned by private equity, where options might be constrained by a high debt load and a focus on boosting profit so investors can exit after a few yea

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Accounting Today

JUNE 27, 2025

Author Login Subscribe ACCOUNTING Accounting Accounting standards International accounting ESG CAS Accounting Accounting standards International accounting ESG CAS TAX Tax Tax preparation IRS Tax Planning Corporate taxes Tax fraud Tax Legislation International taxes Tax Tax preparation IRS Tax Planning Corporate taxes Tax fraud Tax Legislation International taxes AUDIT Audit Audit standards PCAOB SEC Audit Audit standards PCAOB SEC PRACTICE MANAGEMENT Practice management Recruiting Retention Acc

Tax 52

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Insightful Accountant

JUNE 27, 2025

Skip to main content Search Learn More About Our Premium Content | Subscribe To Our Newsletters facebook twitter youtube linkedin instagram RSS Accounting Platforms General Ledger Payroll & Merchant Services Vendor Corner APPS Directory Top ProAdvisor Awards Top ProAdvisor Awards People & Business Practice Management APP Academy Tax Practice News Webinars/Events In Person Events Free Webinars Webinar Archives Podcasts Premium Content Top ProAdvisor Awards People & Business Home Top P

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Accounting Web

JUNE 27, 2025

General practice Tags Business advice Capium Practice management

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Ace Cloud Hosting

JUNE 27, 2025

With the evolving cyber threat spectrum, data security has become non-negotiable for the accounting industry. Therefore, firms are always looking to improve their security posture. However, you cannot achieve an.

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Accounting Web

JUNE 27, 2025

Financial reporting

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Accounting Today

JUNE 27, 2025

The remarks give Republican negotiators additional breathing room as lawmakers remain at loggerheads over several issues in the massive economic package.

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Accounting Web

JUNE 27, 2025

Practice strategy Tags Leadership and strategy Start up in practice Strategy

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CPA Practice

JUNE 27, 2025

According to federal data released Friday morning, consumers spent nearly $30 billion less in May than in April, shrinking the economy and putting economists on high alert.

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Accounting Today

JUNE 27, 2025

Senate Republicans appear to be making progress in resolving differences with House Republicans in the state and local tax deduction and other matters.

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CPA Practice

JUNE 27, 2025

“It’s not the end-all. It can go longer,” Trump told reporters at a White House press conference on June 27. “But we’d like to get it done by that time, if possible.

Tax 66

Tax tax planning 66

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.

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