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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. 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.
The requirements for small businesses and their accountants are due to be phased in over 2026 and 2027. What this means for accountantsAccountants can play a crucial role in supporting businesses as they comply with the new climate reporting requirements. In the end, it’s just maths. There’s something for everyone.
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.
Accountants are central to bridging this gap. Without active accountant involvement, organizations risk over-relying on passive technological defenses. All rights reserved. EDT 2 Min Read Facebook Twitter LinkedIn Email Fraud drains billions of dollars from businesses annually, affecting economies around the world.
2, 2026, to file returns and pay any taxes that were originally due during this period. All rights reserved. EDT 2 Min Read Facebook Twitter LinkedIn Email Individuals and businesses in New Mexico affected by severe storms, flooding and landslides that began on June 23 now have until next Feb. 15, 2025.
EDT 3 Min Read Facebook Twitter LinkedIn Email Wipfli's offices in Wausau, Wisconsin Courtesy of Wipfli LLP Wipfli, a Top 20 Firm based in Milwaukee, received a minority investment of roughly 40% from New Mountain Capital, making it the latest accounting firm to score private equity funding. All rights reserved.
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.
All rights reserved. Meaden & Moore acquires ChainRing Advisors Mark Kasinec Meaden & Moore has acquired ChainRing Advisors, a Cleveland-based advisory and management consulting firm, and appointed its founder, Mark Kasinec, as director of advisory services.
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.
It also applies to 2024 contributions to IRAs and health savings accounts for eligible taxpayers and to estimated tax payments normally due on April 15, June 16 and Sept. All rights reserved. 3 to file various federal individual and business returns and make tax payments.
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.
The Governmental Accounting Standards Board is juggling a variety of projects to improve accounting for state and local governments as they come under pressure from the threat of reduced funding from the federal government. "If All rights reserved.
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. All rights reserved.
The Acknowledgement of Fact Information Document Request process will be eliminated by 2026 due to concerns over limited value and extended timelines. All rights reserved. The IGM provides guidance for: Phasing out the AOF Document Request process in exams. Through this year, taxpayers can choose whether to use AOF. Expanding use of AIR.
The National Association of Tax Professionals ( [link] ): This "You Make the Call" looks at Edna and Stacy, who own the accounting practice Counting Cowgirls LLC, and who purchased a 2025 Subaru Forester and wrapped it with a vinyl graphic to promote their business. All rights reserved.
Roger Russell Senior Editor, Accounting Today mailto linkedin For reprint and licensing requests for this article, click here. All rights reserved. Conducting scenario planning around the potential outcomes will help companies get ready to move quickly whenever the legislation is approved."
31, 2026, deadline for recognizing those deferred gains is only some 17 months away. All rights reserved. EDT 2 Min Read Facebook Twitter LinkedIn Email The well-oiled firm; refundable credits in states; taxing settlement money; and other highlights from our favorite tax bloggers.
Establishing a robust accounts payable audit trail is also made more efficient through the adoption of a digital payment system. All rights reserved. EDT 4 Min Read Facebook Twitter LinkedIn Email Now more than ever, businesses globally have become increasingly susceptible to financial fraud.
Samuel Corum/Bloomberg The Internal Revenue Service wont adjust current income-tax withholding levels for workers and employers to account for President Donald Trumps new tax law, delaying savings from retroactive cuts for most taxpayers. All rights reserved.
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. All rights reserved. More than 95% of processed returns were e-filed and some 62% resulted in refunds.
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.
In this eye-opening episode, Blake and David unpack the Government Accountability Office's sobering projection that federal debt will double the size of the economy by 2047. 1, 2026 [link] Bridging the Gap: New CPA Licensure Legislation To Address the CPA Shortage [link] $5,000 DOGE check? Is the U.S. Call us and. Is the U.S.
By Michael Cohn 1h ago Accounting Private sector loses 33K jobs Private sector employers cut 33,000 jobs in June, the first decline in over two years, while annual pay grew 4.4% All rights reserved. with the bill limiting how much students and their parents can borrow for college from the government.
ALABAMA Machen McChesney, Auburn, promoted: Emma Farris to manager, Mary Elizabeth Bond to supervisor, and Ally Bean, Cole Dewberry and Keeley Leisure to senior accountants. All rights reserved. relocate offices; and more news from across the profession. relocate offices; and more news from across the profession.
Emily Birnbaum and Erik Wasson Bloomberg News Tax Trump tax plan MORE FROM ACCOUNTING TODAY Practice management CPA develops tools for accountants with dentist, veterinarian clients Bassim Michael has created Practice Gauge, a cloud-based analytics platform for his fellow accountants to use with their dentistry and veterinary clients.
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.
MASSACHUSETTS CRR, Wakefield, partnered with Liberty Partners to launch a new platform, Bridgepoint Alliance, to help lower-to-middle-market accounting firms reduce the complexities and administrative burdens. All rights reserved. He became instrumental in the field of taxation, with a specific focus on state and local taxes.
That’s where the best accounting software for CPAs and accounting firms comes into play. Investing in the best accounting software for CPAs and accounting firms designed to facilitate the operations of accounting business is a prudent decision. million ( Source : Finances Online ).
Show Notes KPMG Moves into Small Business Tax and Accounting Services with Spark — Accounting Today — Big 4 accounting and business consulting firm KPMG LLP, is making a play for the small business tax and accounting services market with the launch of a new online system called KPMG Spark. His mission?
Accounting automation has become a game-changer in the financial world. Accounting automation can help streamline operations, reduce errors, and save time and resources. In a survey, 58% of accountants said automated accounting led to increased efficiency. What is Accounting Automation?
Accounting Ledgers, Schedules, and Journals: These documents detail your company’s assets and liabilities, income and expenses, as well as profits and losses. Company records in Singapore can be kept either manually or electronically, provided they are readily auditable. How Should Company Records Be Kept in Singapore?
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.
Moreover, proper invoicing practices are highly crucial during tax audits. Discrepancies can trigger further scrutiny, penalties, or audits, which will only cost your business dearly. It’s a high necessity for financial auditing, legal verification, and historical analysis. That includes paper, electronic, or both versions.
Let us, for example, see how document automation workflow can help the Accounts Payable Department in the procure-to-pay process – a routine business operation that involves a significant amount of paperwork, approvals, and routing. Projections indicate that by 2026, this market is expected to reach a value of $19.6
Moving on, they take a look at recent audit failures, particularly the FTX case and discuss the controversial Beneficial Ownership Information reporting requirements and some potential issues for small businesses. Will Be Empty by 2026 [link] Big Banks are Taking Hits from Commercial Real Estate [link] Need CPE? We appreciate you!
She deposited the refund check into a trust bank account and immediately transferred most of the balance to a separate bank account, both of which she controlled. All rights reserved. EDT 6 Min Read Facebook Twitter LinkedIn Email Making use of refunds; playing defense; how to use thin air; and other highlights of recent tax cases.
Bonuses and Additional Wages Record all year-end bonuses, including Annual Wage Supplement (AWS) Confirm payment dates bonuses paid after 31 Dec 2024 fall into YA 2026 Ensure CPF is applied correctly Additional Wages are subject to a separate CPF ceiling Reconcile year-to-date bonus payments to avoid excess or missed CPF 2.
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