Taxes
National Taxpayer Advocate Finds Hope in IRS Plan
She also shares hope that with long-term funding and prudent management, there is light at the end of the tunnel for taxpayers and practitioners who have experienced problems.
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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Taxes
IRS 10-Year Strategic Operating Plan Includes Major Changes and Goals: Improved Service, Digital Transformation
As the IRS begins implementation of this plan, the agency will work with the public, partners and oversight groups to ensure the transformation work meets the needs of taxpayers and the nation.
Accounting
AICPA Sends Recommendations for Clarification and Expansion of Certain Provisions of Rev Proc. 2022-19
“Revenue Procedure 2022-19 provided much needed guidance and relief for S corporations which inadvertently terminate their S election,” said Jon Williamson, Senior Manager – AICPA.
Payroll
New York State Society of CPAs Launches “Smart Money Habits” Financial Literacy Initiative
The newly created initiative is meant to educate and empower the public regarding vital aspects of financial literacy.
Firm Management
Progress of Women in Leadership is Stalling
Grant Thornton’s latest research reveals it has been slow, increasing only half a percentage point to 32.4% in the past year, and only 13% since the research was first undertaken in 2003.
Payroll
There's a Gender Gap in Home Buying, Too
In 2016, 19.4% of young single women owned a home, compared with 29.6% of young single men — a gap of 10.1 percentage points.
Small Business
Small Business Jobs and Wages Saw Modest Increase in March
The March report also showed average hourly earnings increased slightly from the previous month to 4.64 percent.
Payroll
Americans Forecast to Spend $24 Billion on Easter in 2023
Eighty-one percent of Americans will celebrate the holiday and spend an average of $192.01, the highest figure on record.
Accounting
AuditDashboard Successfully Completes 7th SOC 2 Type 2 Audit
The independent attestation affirms AuditDashboard’s information security practices, policies, procedures, and operations meet the rigorous System and Organization Controls (SOC) standards ...
Taxes
Arkansas and Mississippi Storm Victims Get Tax Deadline Extension to July 31
This means eligible taxpayers will have until July 31 to file and pay tax returns, as well as to make 2022 contributions to their IRAs and health savings accounts.
Small Business
2023 Retail Sales Forecast to Grow 4% to 6%
The National Retail Federation has issued its annual forecast, anticipating that retail sales will grow between 4% and 6% in 2023.
Accounting
Illinois CPA Society Announces 2023-2024 Board of Directors
The Illinois CPA Society has formally announced its new board of directors for the April 1, 2023, to March 31, 2024, fiscal year.