News
Midsummer update: CPA licensure program continues to add students
July 29, 2024
Experience, Learn and Earn (ELE), a program designed to ease attainment of the final 30 hours of the education requirement for CPA licensure, has grown since it began offering online courses last semester.
IRS shares more warning signs of incorrect claims for the Employee Retention Credit; urges businesses to proactively resolve erroneous claims to avoid penalties, interest, audit
July 26, 2024
As the Internal Revenue Service intensifies work on the Employee Retention Credit, the agency today shared five new warning signs being seen on incorrect claims by businesses.
IRS enhances online accounts, adds more e-file business forms
July 25, 2024
The Internal Revenue Service and the Treasury Department reported further progress Thursday on offering more online tools and expanded taxpayer service, including six new features for the Individual Online Account, a new Spanish version of the Business Tax Account, and additional business forms that can be filed electronically.
Curbing burnout: Advice for making sure you switch off from work
July 24, 2024
A clinical psychologist and leadership coach introduces tactics and mindsets to help leaders and professionals avoid burning out at work.
Only 1% of CFOs have automated over three quarters of their financial processes: report
July 24, 2024
Although lots of resources and hype have gone towards digital transformations, few have used the technology to overhaul finance yet, according to McKinsey.
CT now sitting on $4.1 billion budget reserve
July 23, 2024
Last budget surplus surged $300 million in final weeks of fiscal year.
How Kamala Harris may shift the crucial tax debate in this year's election
July 23, 2024
The new presumptive presidential nominee for the Democratic Party carries a long paper trail in tax policy. That history may alter the debate in a pivotal election ahead of a looming deadline next year.
FinCEN estimates millions of hours will be spent seeking BOI access
July 22, 2024
Entities seeking access to beneficial ownership information (BOI) will spend over 8.7 million hours filling out paperwork in the first year and over 3.6 million in the second year, the Financial Crimes Enforcement Network (FinCEN) said in an estimate Monday.
The road to November: What tax pros' clients think about the election
July 21, 2024
Few American elections have had as much at stake as this year's, and clients have a lot on their minds concerning November.
Forget the great resignation, we're now in our big stay era
July 20, 2024
As the adage goes, the grass isn't always greener. This rings true for American workers who have started shunning the idea of the Great Resignation, AKA leaving their jobs in droves, in favor of remaining in their current roles.
CFO Peer Audit: How is your progress on AI implementation and guidance?
July 19, 2024
Finance leaders from DUDE Products, e.l.f Beauty, Fireworks Over America and the Portland Pickles share how they are using AI within their finance teams.
Can ‘less is more’ apply to the working week?
July 18, 2024
Is it possible to get as much work done in four days as five? The answer may not be what you expect and the benefits for staff are undeniable.
Final and proposed regs. issued on retirement plan RMDs
July 18, 2024
The IRS on Thursday issued final regulations (T.D. 10001) that update the rules for required minimum distributions (RMDs) from qualified plans; Sec. 403(b) annuity contracts, custodial accounts, and retirement income accounts; individual retirement accounts and annuities (IRAs); and certain eligible deferred compensation plans.
NASBA CEO Elect Daniel Dustin Appoints Four to Leadership Team
July 18, 2024
The National Association of State Boards of Accountancy (NASBA) President and CEO elect Daniel J. Dustin, CPA, has selected Kent A. Absec, Brenner Allen, Esq., William A. Emmer, CPA, and Sedrik Newbern to join the leadership team at NASBA, effective August 1, 2024. These changes to leadership follow the retirement of current NASBA President and CEO Ken L. Bishop.
‘Biggest IT failure ever’: Its impact and the lessons learned
July 18, 2024
As a faulty update from a cybersecurity firm knocks out IT systems across the world, Bill Mew examines what went wrong, what the impact was, and what lessons need to be learned.
72% of CFOs got a raise in 2023: report
July 17, 2024
That’s much more than the 50% of CEOs who said the same, according to new data from Compensation Advisory Partners.
90% of CFOs say ESG issues will be a major focus over the next 5 years
July 17, 2024
A large majority of finance chiefs say they feel the heat on sustainability issues from multiple stakeholder groups.
How the Accountant Shortage Is Rippling Through the Startup World
July 17, 2024
The are fewer CPAs, which is a problem for entrepreneurs, but while some lament the loss, others are looking to fill it.
Warning for EBP audit firms: Service agreements creating headaches
July 17, 2024
An effort aimed at streamlining access to pertinent information for auditors of employee benefit plan (EBP) financial statements is creating concerns that auditors and firms may be subject to the risk of violations of laws, regulations, and professional standards, as well as increased financial risk.
IRS crypto enforcement could get tougher
July 15, 2024
The Internal Revenue Service could be doing a better job of cracking down on tax noncompliance by users of virtual currency or digital assets, according to a new report.