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Isaac M. O'Bannon

Managing Editor

isaac.obannon@cpapracticeadvisor.com

Isaac M. O'Bannon is the managing editor and digital content manager for CPA Practice Advisor (www.CPAPracticeAdvisor.com), drawing on two decades of experience covering the areas of professional accounting, taxation, business productivity and consumer technologies. Prior to CPA Practice Advisor, O'Bannon was a consultant at firms in San Francisco, Denver and Tulsa, serving clients that included Logitech, Polycom, Hilti, Microsoft, the Stanford Research Institute, the University of Oklahoma's College of Engineering and other technology leaders. He is a U.S. Navy veteran. Email: isaac.obannon - @ - cpapracticeadvisor.com

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Small Business

Retail Sales Rose in April as Consumers ‘Remained Engaged’

The U.S. Census Bureau has announced that overall retail sales in April were up 0.4% from March and up 1.6% year over year. In March, sales were down 0.7% month over month but up 2.4% year over year.

Accounting

U.S. Companies Embrace Automation and Digitization

The number of companies in the U.S. that automate some of their work is expected to climb to 74% in three years, up from 65% this year and 51% three years ago.

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Payroll

Job Satisfaction in U.S. Hits All-Time High

62.3 percent of US workers were satisfied in 2022—up from 60.2 percent in 2021. That’s the highest level recorded since the survey began in 1987. Satisfaction has now surged for two consecutive years.

Accounting

Illinois CPA Society Honors 2023 Women to Watch Award Recipients

Each year, Women to Watch Awards are presented in two categories, Emerging Leader and Experienced Leader.

Accounting

AICPA and Other Groups Call Attention to New Beneficial Ownership Information Reporting Requirements

BOI is an anti-money laundering initiative enacted through the Corporate Transparency Act (CTA) in 2021.

Taxes

IRS Publishes Initial Guidance for Domestic Content Tax Credit

Domestic content is generally defined as steel, iron or manufactured products that are manufactured or produced in the United States.

Accounting

Survey Shows Drop in Consumer Trust in Banks

Opinions on financial institutions acting “honestly and ethically” shifted among those with different racial backgrounds in the two polls.

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Accounting

Expensify Expands Employee Reimbursements Globally

Businesses simply link their local bank account and pay employees at any time. Expensify will handle the rest.

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Firm Management

Massachusetts Society of CPAs Awards 51 Scholarships

MassCPAs also hosted its second Virtual 5K Walk/Run Fundraiser in April, raising an additional $1,297 to help fund scholarships for accounting students in Massachusetts. 

Taxes

AICPA Supports Extending Tax Mailbox Rule to E-Filed Returns and Payments

This practice – known as the “mailbox rule” – already applies to payments and documents sent to the IRS through traditional mail.

Small Business

Imports Climbing But Remain Below Pandemic Peaks

Import cargo volume at the nation’s major container ports should climb steadily through this summer but will remain below record-setting levels seen during most of the pandemic...

Income Tax

New Jersey CPA Pleads Guilty to $2.5 Million Tax Fraud

Benkoil admitted his conduct resulted in a tax loss to the IRS of nearly $2.5 million and has agreed to pay full restitution.