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January 28, 2022

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Tax Strategy: What to watch for in a difficult tax season

By Mark A. Luscombe      

While there's much that remains uncertain, there are a host of complications we can already identify. View story →

IRS agrees to ease automated penalty notices

By Michael Cohn       6 min read

After coming under pressure from an array of tax and accounting professional associations and hundreds of members of Congress, the Internal Revenue Service said Thursday it would suspend issuance of some of its automated penalty notices to taxpayers, but tax and accounting groups say the agency isn’t providing enough relief. View story →

RELATED

AICPA updates practice aid for crypto accounting and auditing →

The American Institute of CPAs has updated its practice aid for accounting and auditing of digital assets, with added material on cryptocurrency.

QuickBooks adds products to get money faster

By Daniel Hood       1 min read

QB Get Paid Upfront and QB Early Pay let small businesses and their employees access their money more quickly. View story →

Cybersecurity and forensic accounting join forces to combat criminals

By Eric Hines, Nathan Fisher       4 min read

The solutions to these complex problems are best guided by multifaceted teams adept at bridging the gap between technology and finance. View story →

Business leaders focus on combating inflation, retaining talent, transforming tax

By Michael Cohn       4 min read

CEOs are turning their attention away from the pandemic to fighting inflation, according to a survey by PwC. View story →

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Vice-chair appointed to International Sustainability Standards Board

By Michael Cohn       4 min read

IASB vice-chair Sue Lloyd will become vice-chair of the new board, while Value Reporting Foundation CEO Janine Guillot will be special advisor to the ISSB's chair.  View story →

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AICPA updates practice aid for crypto accounting and auditing

By Michael Cohn       2 min read

The American Institute of CPAs has updated its practice aid for accounting and auditing of digital assets, with added material on cryptocurrency. View story →

Congress asks IRS to stop fines for taxpayers caught in backlog

By Laura Davison       2 min read

The service is under pressure from lawmakers to stop penalties and pause automated collections from taxpayers who have been caught in a processing backlog. View story →

Biden ally in House floats lower child tax credit income cap

By Erik Wasson and Billy House       3 min read

A top House Democrat suggested Thursday that his party scale back eligibility for child tax credits as a way to unlock President Joe Biden’s stalled economic agenda.  View story →

Steinhoff wins approval for $1.6B global settlement

By Janice Kew       2 min read

The company can start paying out $1.6 billion to investors who lost out in the wake of the retailer’s 2017 accounting scandal. View story →

Tax Fraud Blotter: Always some relief in giving up

By Jeff Stimpson       5 min read

An airy idea of loans; did they have a deal for you; bar flies; and other highlights of recent tax cases. Read story →

GRI CEO expects to work with ISSB on ESG standards

By Michael Cohn       10 min read

Eelco van der Enden is planning to work with the nascent board, while maintaining GRI’s independence. Read story →

Sage, BOSS Network launch grant for Black women entrepreneurs

By Sean McCabe       2 min read

The "Invest in Progress" grant will award $10,000 to 25 Black women business owners to support their first five years in business. Read story →

Entering ‘another miserable tax season’

By Roger Russell       6 min read

Things are going to get difficult, and practitioners shouldn’t expect help from the IRS, experts warn. Read story →

Surgent honors late VP with updated scholarship

By Sean McCabe       1 min read

Surgent Accounting & Financial Education renamed (and increased the amount of) its university scholarship award, honoring former vice president Paul Wiese, who passed away in 2021. Read story →

RESOURCES

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Positioning your accounting firm for growth in 2022 and beyond

Tuesday, March 1, 2022 2:00 PM EST

Despite the ongoing pandemic, time marches on, with accountants looking ahead at everything from client services and prospecting to technology and staff investments. Please join us to learn more about how your firm should be positioning payroll services and other offerings to drive business opportunities. Learn More →

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