Accounting

CFOs in the U.S. and Mexico are increasingly concerned about the ramifications of the novel coronavirus pandemic, according to a new survey by PricewaterhouseCoopers, with 87 percent of the CFOs polled expressing great concern for their businesses and 80 percent anticipating COVID-19 will decrease their revenue or profits this year. This is the second poll
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We live in an age of enormous technological advancement, yet most finance organizations continue to operate with significant manual intensity. Take a leading payments company as a case study. While this company’s customers’ payments quickly flow in the digital domain, every month a large, globally-distributed team of finance professionals use an array of spreadsheets, process
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Lukka, which makes a tax preparation platform for cryptocurrency, has debuted Lukka Library, an interactive collection of academic papers dealing with controversial legal and tax questions that lack official guidance or regulatory frameworks. The papers are mostly short form, and each addresses a specific issue and is meant to provide viewers with cutting-edge perspectives on
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Erin Collins will start her term as the National Taxpayer Advocate on March 30 — earlier than expected. Collins is taking up her post earlier ahead of schedule due to the national emergency created by the coronavirus pandemic. “I can’t imagine a more critical time to lead the Taxpayer Advocate Service,” she said. She replaces
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Quite an education; food for thought; Motion denied; and other highlights of recent tax cases. Tampa, Florida: A federal court has permanently barred Steven Doletzky, formerly doing business as Liberty Tax Service, from operating a prep business and preparing federal returns for others. The court also ordered Doletzky to disgorge $175,000 that the U.S. alleges
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AccountingSuite, which makes accounting software with built-in inventory management features, has integrated its software with Tax1099, an IRS-approved, cloud-based e-filing system for the 1099 MISC form and 40 other forms. The integration is aimed at improving the e-file experience for businesses with contractors. The integration allows users of both systems to pull data from an
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The American Institute of CPAs joined forces with the International Franchise Association and payroll companies Paychex and Intuit in issuing an open letter Sunday to President Donald Trump, U.S. Treasury Secretary Steven Mnuchin, Small Business Administrator Jovita Carranza and members of Congress proposing expedited funding for small businesses amid the coronavirus pandemic via payroll processing.
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The American Institute of CPAs and the Chartered Institute of Management Accountants have announced that Engage 2020, the annual accounting and finance conference held in Las Vegas, will be postponed until an unspecified date “later this year” due to the ongoing coronavirus pandemic. Originally set for June 7-11, the rescheduled event is “still being set,”
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Republicans and Democrats in the Senate have released separate sets of tax proposals aimed at alleviating the effects of the coronavirus pandemic, in contrast to the two bipartisan bills that have been signed into law already. Senate Majority Leader Mitch McConnell, R-Kentucky, released his proposal Thursday afternoon, centered around giving “recovery checks” of up to
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With offices closed, and staff and clients scattered, maintaining relationships (and sanity) can be hard. Below are eight tactics to manage a disrupted work environment for the duration, and help maintain productivity and healthy relationships. The first four are specifically for firm leaders and managing partners, and the last four are for everyone trying to
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