Mon.Jul 03, 2023

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IRS warns of new scam involving unclaimed refunds

Accounting Today

The Internal Revenue Service is cautioning taxpayers to beware of a new scam in which fraudsters are sending out cardboard envelopes from a delivery service asking for personal info.

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ERC IRS Audit Representation: Your Comprehensive FAQ Guide

MyIRSRelief

ERC IRS Audit Representation: Your Comprehensive FAQ Guide The Employee Retention Credit (ERC) has been a lifeline for many businesses during challenging times, providing substantial relief. However, with the IRS actively scrutinizing ERC claims, it’s crucial for businesses to understand their rights and options when facing an audit. In this FAQ article, we dive into the intricacies of ERC IRS audit representation , answering common questions and shedding light on the audit process, rights

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Trending Sources

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Original Hype Man and Coffee Enthusiast Peter “Sugar Bear” Olinto is Leaving Becker

Going Concern

We had to go way back in the archive for this image. In a LinkedIn post on Friday , Becker superinstructor and the man single-handedly propping up the coffee shop industry Peter Olinto announced that he is leaving Becker. “I am NOT RETIRING!!” he said in a follow-up comment. He writes: Hello LinkedIn connections and current/former students.

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IRS Has Improved Services, But Still Needs Work, Says Taxpayer Advocate

CPA Practice

By Kiplinger Consumer News Service (via TNS). The IRS has made significant progress processing its backlog of most tax returns and has cut telephone hold times, according to the Taxpayer Advocate Service (TAS). But other IRS services are still lacking. A review of the 2023 filing season identified the shortfalls. “The taxpayer experience vastly improved during the 2023 filing season.

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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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Kraken ordered to turn over its users' information to the IRS

Accounting Today

The ruling comes amid a deepening U.S. crackdown on cryptocurrency.

Tax 105
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5 Common Challenges That Financial Controllers Face

AccountingDepartment

Managing the accounting department is a vital task for any company. As the ultimate authority on the organization's financial affairs, the Financial Controller oversees all aspects of financial operations, from day-to-day tasks to long-term strategic planning. To excel in this role, the controller must possess exceptional skills in data analytics, team management, communication, and financial technology.

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7 reasons CAS is right for you

Accounting Today

If your ambition is to deliver premium services to your clients, the time to turn the spotlight on client advisory services is this very moment.

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Fast, simple, secure payments with Chaser Pay: An embedded payments solution for SMEs

Accounting Insight

Chaser, the global accounts receivables software launched Chaser Pay. This innovative payment solution is seamlessly integrated within Chaser’s accounts receivable software, making it simple, secure, and efficient for businesses of all sizes to process payments. Using Chaser Pay, businesses can process payments, receive funds for overdue invoices, and reconcile transactions.

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SEC's use of in-house judges will get Supreme Court review

Accounting Today

The Supreme Court will review a ruling that cast a constitutional cloud over the use of in-house judges to handle cases pressed by the Securities and Exchange Commission.

Account 96
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Dext appoints Emily Westgate as new CMO

Accounting Insight

Dext , the pre-accounting platform, has today announced the appointment of Emily Westgate as the new Chief Marketing Officer. Westgate joins Dext from Signal AI, the external intelligence company, where she was key to driving the company’s messaging and growth. With over 20 years of experience, Westgate is an experienced marketing leader in high growth and corporate environments within the technology industry.

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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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Tax pros worried about impact of BEPS and ChatGPT

Accounting Today

Global tax professionals are concerned about the impact of the OECD's base erosion and profit shifting plan, as well as artificial intelligence technology.

Tax 85
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Hidden Benefits of Accounting Systems Integration

Analytix Finance & Accounting

According to a Finances Online report , more organizations are now recognizing the power of accounting software in the industry. In the past few years, the adoption of cloud-based accounting technology has changed the way businesses carry out their accounting and finance management tasks. Through cloud-hosted accounting software, businesses acquire a faster and more efficient way to manage audits, tax preparation, banking, and payroll.

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Thomson Reuters adding AI to tax software

Accounting Today

The company plans to invest $100 million per year in artificial intelligence starting next year, with plans to integrate the technology in its tax research and tax preparation systems as well as other areas.

Tax 75
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Happy 4th-of-July, 2023

Insightful Accountant

The U.S. Congress proclaimed "The Star Spangled Banner" as our National Anthem in 1931. Let us all show how "proud we are to be Americans" on this July 4th by flying the 'Star Spangled Banner' high!

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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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Art of Accounting: 500th column

Accounting Today

Ed Mendlowitz has reached a landmark in his weekly articles for Accounting Today.

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Chicago Minimum Wage Increase Takes Effect July 1, 2023

Nancy McClelland, LLC

Chicago Office Of Labor Standards Minimum Wage Chart The City of Chicago and Cook County both saw increases to their minimum wage requirements as of July 1, 2023 (they have fiscal years that end June 30, which is why we see their updates at this time each year, rather than January 1, which is when the State of Illinois changes usually go into effect).

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July 2023 Employee Spotlight: Roxanne Raynor

Summit CPA

As a hybrid firm , not only do we serve our clients remotely, but our team members are often distributed as well. We understand the accounting, bookkeeping, cash flow management, and tax nuances of running a distributed company. We pride ourselves on our ability to provide the highest quality Virtual CFO services while being hybrid, and we couldn't do any of it without our amazing team.