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EDT 3 Min Read Facebook Twitter LinkedIn Email The accountant the world urgently needs has evolved far beyond the traditional role we recognized just a few years ago. We must confront a critical question: If we continue to train accountants solely to file tax reports, are we truly equipping them for the challenges of todays world?
EDT 1 Min Read Facebook Twitter LinkedIn Email Andrew Harrer/Bloomberg Tax year 2026 and filing season 2027 are the target date for retiring the Filing Information Returns Electronic, or FIRE, system. All rights reserved. FIRE will not be available for submissions in filing season 2027.
Sovos ( [link] ): The IRS will decommission the Filing Information Returns Electronically system in January 2027; all 2026 returns will need to use the new IRS Information Returns Intake System. All rights reserved. The window for preparation is closing fast. By Paige Hagy June 16 Like what you see?
Accounting Technology Fraud prevention Fraud MORE FROM ACCOUNTING TODAY Practice management BDO names Matt Becker next CEO Matthew Becker, BDO USAs national managing principal of tax, has been ratified by a principal-wide vote to succeed Wayne Berson as the firms next CEO, effective July 1, 2026. All rights reserved.
Madison Street Advisors offers tax planning and preparation, focusing on audit mitigation strategies and reduction of audit profiles. It also offers bookkeeping services, audit defense and resolution, and other business services. "We All rights reserved.
CONNECTICUT FASB, GASB and FAF logos on the wall at headquarters in Norwalk, Connecticut Courtesy of GASB The Financial Accounting Foundation board of trustees announced it is seeking nominations for new members to join the Financial Accounting Standards Advisory Council for an initial one-year term beginning Jan. All rights reserved.
By Chris Gaetano June 20 Audit Senate Parliamentarian rejects PCAOB provision in tax bill The provision would have eliminated the Public Company Accounting Oversight Board and transferred its responsibilities to the Securities and Exchange Commission. All rights reserved. For individual taxpayers, this means Oct.
Were on the cusp of 70 years old next year in 2026, and I think this is probably the most exciting day of Sax history as we start this journey," Damiano said. "I All rights reserved. Partnering with our sponsor, well be able to invest in our people and ultimately grow our practice to remain competitive in the industry.
Most of the questions deal with Statement 103 , the financial reporting model improvements standard that GASB issued last year, which will take effect in 2026. He hopes to issue an exposure draft, with another round of due process on a document written more like a final standard in early 2026 with a final standard expected in early 2027.
If youre in solar or wind and you want the [Investment Tax Credit], that basically means you have to have whats called the beginning of construction by July 4, 2026. It has people in the renewable energy industry questioning what will they need to do to meet the beginning of construction test by July 4, 2026. All rights reserved.
By Roger Russell July 2 Accounting North Carolina signs licensure changes bill into law North Carolina Gov. Make sure you're getting it all Accounting Today is a leading provider of online business news for the accounting community, offering breaking news, in-depth features, and a host of resources and services.
By Roger Russell 7h ago Accounting North Carolina signs licensure changes bill into law North Carolina Gov. Make sure you're getting it all Accounting Today is a leading provider of online business news for the accounting community, offering breaking news, in-depth features, and a host of resources and services.
Establishing a robust accounts payable audit trail is also made more efficient through the adoption of a digital payment system. By Roger Russell 7h ago Accounting North Carolina signs licensure changes bill into law North Carolina Gov. All rights reserved. By Paige Hagy 7h ago Like what you see?
The service received nearly 141 million individual income tax returns and processed about 138 million this tax season, according to the National Taxpayer Service "Objectives Report to Congress" for Fiscal 2026. The IRS will need to rapidly hire and train thousands of new Taxpayer Services employees before the 2026 filing season."
2, 2026, to file returns and pay any taxes that were originally due during this period. 15, 2026; Quarterly payroll and excise tax returns normally due on July 31, Oct. 31, 2026; Calendar-year partnerships and S corps whose 2024 extensions run out on Sept. All rights reserved. Affected individuals and businesses have until Feb.
By Roger Russell 7h ago Accounting North Carolina signs licensure changes bill into law North Carolina Gov. Make sure you're getting it all Accounting Today is a leading provider of online business news for the accounting community, offering breaking news, in-depth features, and a host of resources and services.
All rights reserved. relocate offices; and more news from across the profession. relocate offices; and more news from across the profession. Cohen & Co., Cleveland, announced a donation commitment of $100,000 to Cleveland Guardians Charities, via the Cohen & Co.
By Roger Russell 7h ago Accounting North Carolina signs licensure changes bill into law North Carolina Gov. Make sure you're getting it all Accounting Today is a leading provider of online business news for the accounting community, offering breaking news, in-depth features, and a host of resources and services.
Administration officials view the bill as a cornerstone of their economic messaging strategy to win over voters in the 2026 midterm elections when control of the House and the Senate will be at stake. All rights reserved. Undocumented immigrants, in most cases, are not eligible for the program.
Their co-managing roles are scheduled to last a year, with Andrews assuming the managing partner role on July 1, 2026, and becoming the first female and first non-Plung family member in that position in the firms 104-year history. All rights reserved. Pittsburgh.
That’s where the best accountingsoftware for CPAs and accounting firms comes into play. Customer management software enables businesses to organize and track customer information, deadlines, and conversations, resulting in more efficient interactions and improved client satisfaction.
In a survey, 58% of accountants said automated accounting led to increased efficiency. US accounting services show that nearly 75% of accounting tasks can be automated. This could explain the high growth of the accountingsoftware industry, estimated to reach $12 billion by 2026.
billion in 2026, quadrupling from 2022. According to The Federal Reserve , at launch in July 2023, 35 financial institutions were participating in the FedNow Service Network. Customizable approval hierarchies and audit trails help AP teams retain control over their processes. As of May 2024, that number had ballooned to 758.
Audit Trail and Reporting: Throughout the automated procure-to-pay process, the system maintains a comprehensive audit trail, documenting each action taken on the documents. This audit trail serves as a record for compliance purposes, internal audits, and reporting requirements.
Trial on the remaining counts will be in 2026. By Michael Cohn July 3 Technology Tech news: Wolters Kluwer adds document summaries, tool directory to CCH AnswerConnect Plus, FileAI announces V2 platform launch; Foxit launches PDF and Document Workflow APIs; and other accounting tech updates. All rights reserved.
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