Fri.Apr 18, 2025

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Navigating digital transformation: The role of tax departments

ThomsonReuters

Blog home For businesses worldwide, digital transformation is key to staying ahead of their competitors. But did you know that the tax department plays a crucial role in this process? Our infographic, “ Ready for takeoff? Why your tax department should be involved from the start ,” is your guide to understanding this essential partnership.

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IRS DRP 2.0 Contract Language: Would You Sign It?

CPA Practice

Many IRS employees, who didn't take the first deferred resignation offer earlier this year, jumped at the chance to take the buyout this time around, while others have decided to ride it out, hoping they will be spared from the reduction in force plans at the tax agency.

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Trending Sources

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On the move: EY names San Antonio office MP

Accounting Today

Carr, Riggs & Ingram appoints CFO and chief legal officer; TSCPA hosts accounting bootcamp; and more news from across the profession.

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Maryland Lawmakers Consider Taxing Services and Intellectual Property

CPA Practice

Maryland needs more tax revenue. Taxing business services and/or intellectual property and media rights could help the Old Line State fill a looming $3 billion budget gap.

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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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Tech news: Certinia announces spring release

Accounting Today

Certinia announces spring release; Intuit acquires tech and experts from fintech Deserve; Paystand launches feature to navigate tariffs; and other accounting tech news and updates.

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Indiana Becomes Latest State to Reform CPA Licensure Rules

CPA Practice

Governor Michael Braun (R) signed HEA 1143 into law on April 16, 2025, making Indiana one of the first 10 states to adopt an additional pathway to CPA licensure.

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More Trending

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Social Security Administration Implements New Anti-Fraud Measures it Says Will Enhance Telephone Claim Processing

CPA Practice

The agency says these steps will further modernize the agencys services and strengthen program integrity

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Failure Rates in MLM (Multi-Level Marketing)

FraudFiles

More than 99% of people lose money in multi-level marketing (MLM). In Chapter 7 of Dr. Jon Taylors book, The Case (For and) Against Multi-Level Marketing, he details the failure rates of participants in multi-lievel marketing companies. In order to analyze the true failure rates and to calculate actual profits or losses from participation in [.

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May 19 CPE Webcast: Emerging Technology for an Efficient Audit

CPA Practice

Emerging technologies are rapidly changing auditing. From enhanced accuracy to streamlined workflows, these innovations are transforming the way CPAs and auditors work. But how can you harness the potential of these tools to stay ahead of the curve?

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A Tax Opinion Letter, Complex Transactions, Special Requirements, and How the Los Angeles-Based Tax Firm of Mike Habib, EA Can Help

MyIRSRelief

In the intricate world of tax compliance and planning, businesses and individuals often encounter complex transactions that require specialized expertise to navigate. Whether its a corporate restructuring, a high-stakes merger, or a sophisticated investment strategy, the tax implications of these transactions can be daunting. One of the most critical tools in ensuring compliance and mitigating risk is the tax opinion letter.

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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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The Tax Law Roundup – April 2025

CPA Practice

The Tax Law Roundup is a collection of recent sales, VAT and other transactional and business operations tax news compiled and shared with us by the transaction and business tax experts at Avalara.

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Trading For Sales Vs. Trading For Profit In the Construction Business

Randal DeHart

Times were tough, so Remodeler John decided to lower prices below those of his competitors. He promoted a charge-out rate 20% below the industry average, explaining that his overheads were lower than those of larger companies. The turning point came after advice from his mentor. "You're selling yourself short, John," said the mentor. "With your qualifications and experience, you should charge at least as much as other businesses if not more.

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IRS Workers Whose Roles Are ‘Deemed Critical’ Get Rejected For DRP 2.0

CPA Practice

The IRS is telling some employees who have requested to take the latest deferred resignation offer from the Department of the Treasury that they're ineligible if their positions within the tax agency are "deemed critical.

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S Corporation Overview and Compliance

Dent Moses

Advantages of an S Corporation An S corporation offers several key advantages for small and closely held businesses. One of the most notable is pass-through taxation, which allows income, deductions, and credits to flow through to the shareholders personal tax returns, avoiding the double taxation faced by traditional C corporations. Other key benefits include: – Limited Liability Protection Shareholders personal assets are generally shielded from business liabilities. – Tax Efficie

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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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After the Deadline: How CPAs Can Use Child Care Tax Credits to Deliver Year-Round Value to Business Clients

CPA Practice

The Employer-Provided Child Care Credit (IRC 45F). It allows employers to claim up to $150,000 in annual federal tax credits for supporting Child Care.

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The Practice Management Playbook: How to Get The Most Out of Canopy

Canopy Accounting

Introduction So, youve made the investment in practice management software - bravo ! Now its time to use it to its full potential. Too often, firms invest in a platform like Canopy and only scratch the surface of its capabilitiesand trust us, there are A LOT of capabilities. Thats why we put together the Practice Management Playbook. It lays out 7 plays to help you run a more efficient, organized, and client-focused firm.

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Lili Partners with eCommerce Platforms to Offer Tailored Banking and Accounting Solutions for Online Businesses

CPA Practice

This integration provides instant access to store earnings, automated bookkeeping and tax management, and efficient international payment solutions, streamlining financial operations for growing businesses.

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The Importance of Fiduciary Oversight in Managing Self-Insured Health Plans

Withum

Fiduciary oversight is essential for self-insured health plan sponsors to ensure the financial integrity of the plan and protect participant benefits. Recent Department of Labor (DOL) investigations into fiduciary failures highlight the importance of adhering to best practices when monitoring third-party administrators (TPAs), pharmacy benefit managers (PBMs), and other vendors.

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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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Review and Interview with SafeSend – The Accounting Technology Lab Podcast – April 2025

CPA Practice

In this video and podcast, Randy Johnston and Brian Tankersley, CPA, discuss Thomson Reuters Safe Send. Watch the video, listen to the audio podcast below, or read the transcript.

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Acting IRS commissioner replaced by Treasury official

Accounting Today

Gary Shapley, who was named only days ago as acting commissioner, is being replaced by Deputy Treasury Secretary Michael Faulkender.

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Bessent Replaces Acting IRS Commissioner in Musk Power Struggle

CPA Practice

Treasury SecretaryScott Bessent appointed his deputy,Michael Faulkender, as the next acting chief of theIRSafter reports the current leader of the agency, Gary Shapley, had been installed at the urging ofElon Muskwithout Bessents knowledge.

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